Reconstructing Keynesian Macroeconomics Volume 1

Reconstructing Keynesian Macroeconomics Volume 1
Author: Carl Chiarella
Publisher: Routledge
Total Pages: 422
Release: 2012-03-29
Genre: Business & Economics
ISBN: 1136650369

This book represents the first of three volumes offering a complete reinterpretation and restructuring of Keynesian macroeconomics and a detailed investigation of the disequilibrium adjustment processes characterizing the financial, the goods and the labour markets and their interaction. It questions in a radical way the evolution of Keynesian macroeconomics after World War II and focuses on the limitations of the traditional Keynesian approach until it fell apart in the early 1970s, as well as the inadequacy of the new consensus in macroeconomics that emerged from the Monetarist critique of Keynesianism. Professors Chiarella, Flaschel and Semmler investigate basic methodological issues, the pitfalls of the Rational Expectations School, important feedback channels in the tradition of Tobin’s work, and theories of the wage-price spiral and the evidences for them. The book uses primarily partial approaches, the integration of which will be the subject of subsequent volumes. With its focus on Keynesian propagation mechanisms, the research in this book provides a unique alternative to the black-box shock-absorber approaches that dominate modern macroeconomics. Reconstructing Keynesian Macroeconomics should be of interest to students and researchers who want to look at alternatives to the mainstream macrodynamics that emerged from the Monetarist critique of Keynesianism.

Reconstructing Keynesian Macroeconomics

Reconstructing Keynesian Macroeconomics
Author: Carl Chiarella
Publisher:
Total Pages: 0
Release: 2011
Genre:
ISBN: 9780415668569

This book represents the first of three volumes offering a complete reinterpretation and restructuring of Keynesian macroeconomics and a detailed investigation of the disequilibrium adjustment processes characterizing the financial, the goods and the labour markets and their interaction. It questions in a radical way the evolution of Keynesian macroeconomics after World War II and focuses on the limitations of the traditional Keynesian approach until it fell apart in the early 1970s, as well as the inadequacy of the new consensus in macroeconomics that emerged from the Monetarist critique of K

Reconstructing Keynesian Macroeconomics Volume 2

Reconstructing Keynesian Macroeconomics Volume 2
Author: Carl Chiarella
Publisher: Routledge
Total Pages: 497
Release: 2013-01-17
Genre: Business & Economics
ISBN: 1136195815

This book represents the second of three volumes offering a complete reinterpretation and restructuring of Keynesian macroeconomics and a detailed investigation of the disequilibrium adjustment processes characterizing the financial, the goods and the labour markets and their interaction. In this second volume the authors present a detailed analysis and comparison of two competing types of approaches to Keynesian macroeconomics, one that integrates goods, labour and financial markets, and another from the perspective of a conventional type of LM-analysis or interest-rate policy of the central bank. The authors employ rigorous dynamic macro-models of a descriptive and applicable nature, which will be of interest to all macroeconomists who use formal model-building in their investigations. The research in this book with its focus on Keynesian propagation mechanisms provides a unique alternative to the black-box shock-absorber approaches that dominate modern macroeconomics. The main conclusion of the work is that policy makers need to reconsider Keynesian ideas, but in the modern form in which they are expressed in this volume. Reconstructing Keynesian Macroeconomics will be of interest to students and researchers who want to look at alternatives to the mainstream macrodynamics that emerged from the Monetarist critique of Keynesianism. This book will also engage central bankers and macroeconomic policy makers.

Reconstructing Keynesian Macroeconomics

Reconstructing Keynesian Macroeconomics
Author: Carl Chiarella
Publisher: Routledge
Total Pages: 498
Release: 2012
Genre: Business & Economics
ISBN: 0415668573

This book represents the second of three volumes offering a complete reinterpretation and restructuring of Keynesian macroeconomics and offers a detailed analysis and comparison of two competing types of approaches to Keynesian macroeconomics.

Reconstructing Keynesian Economics with Imperfect Competition

Reconstructing Keynesian Economics with Imperfect Competition
Author: Robin Lapthorn Marris
Publisher: Edward Elgar Publishing
Total Pages: 356
Release: 1991-01-01
Genre: Business & Economics
ISBN: 9781782541233

'Professor Robin Marris, who almost thirty years ago made pioneering contributions on the theory of managerial capitalism, has now written a fascinating and highly unusual book on Keynesian macroeconomics.' - Amitava Krishna Dutt, Review of Social Economy '. . . the book provides many valuable insights for macroeconomists on both sides of the Atlantic.' - Stephen McCafferty, Journal of Economic Literature This path-breaking book - written by a leading economist - is certain to create controversy and will lead to a fundamental reassessment of Keynesian economics. Building on his previous work on modern capitalism, Robin Marris has made an important theoretical advance which will have a major impact on the economics profession.

Reconstructing Keynesian Macroeconomics Volume 3

Reconstructing Keynesian Macroeconomics Volume 3
Author: Carl Chiarella
Publisher: Routledge
Total Pages: 391
Release: 2014-12-17
Genre: Business & Economics
ISBN: 1317568648

This book represents the third of three volumes offering a complete reinterpretation and restructuring of Keynesian macroeconomics and a detailed investigation of the disequilibrium adjustment processes characterizing the financial, the goods and the labour markets and their interaction. This book offers a full treatment of the interlinkages between the real and the financial markets, including an analysis of banking, credit, and endogenous money and asset markets. It remains critical of quite frequently used conventional macro models that have dropped the tradition of studying the macroeconomic feedback channels, well-known in the history of macroeconomics. Those feedback mechanisms are known to have the potential for instabilities with respect to real markets, price dynamics and financial markets. In this volume a particular emphasis is given to the financial-real interaction. The research in this book with its focus on Keynesian propagation mechanisms provides a unique alternative to the black-box shock-absorber approaches that dominate modern macroeconomics. The main conclusion of the work is that policy makers need to reconsider Keynesian ideas, but in the modern form in which they are expressed in this volume. Reconstructing Keynesian Macroeconomics will be of interest to students and researchers who want to look at alternatives to the mainstream macrodynamics that emerged from the Monetarist critique of Keynesianism. This book will also engage central bankers and macroeconomic policy makers.

Keynesian Economics and Price Theory

Keynesian Economics and Price Theory
Author: Masayuki Otaki
Publisher: Springer
Total Pages: 209
Release: 2015-02-04
Genre: Business & Economics
ISBN: 4431553452

This book reconstructs Keynesian macroeconomics so that it is compatible with the neoclassical dynamic microeconomic theory. This theory adopts three postulates: rational expectations, perfect price flexibility, and exclusion of the money in utility function (MIU). Based on the new theoretical finding that the Lucas model (1972) contains multiple equilibria, the author unifies Keynesian and monetarist theories within the same framework. The book applies the above basic theory to international macroeconomics and economic growth theory. New Keynesian theory contains logical inconsistencies: menu costs that have no close relationship with microeconomics and MIU, which implies that the money accumulated as wealth is never spent. These two assumptions do not proximate the real world. In this volume, the author discusses how various segregated theoretical approaches in macroeconomics relate to one another and proposes how to integrate them.

Roads to Social Capitalism

Roads to Social Capitalism
Author: Peter Flaschel
Publisher: Edward Elgar Publishing
Total Pages: 385
Release: 2012-01-01
Genre: Business & Economics
ISBN: 178195139X

The current crises in the financialization of capitalism, and their repercussions on the financial viability of entire countries, severely question the achievements of mainstream economics and its disregard of Keynes's theory of effective demand and finance. In view of this, Peter Flaschel and Sigrid Luchtenberg consider roads to a type of capitalism that could eventually be considered as 'social' in nature. The authors underpin their study with theory, empirical evidence, and policy from a positive as well as a normative perspective. As points of departure for their concept of social capitalism, the theoretical framework provides a synthesis of the work of Marx, Keynes, and Schumpeter on ruthless capitalism, regulated capitalism, and competitive socialism.