Expectations, employment and prices / Roger E.A. Farmer.

Format:

Book

Author/Creator:

Farmer, Roger E. A.

Language:

English

Subjects (All):

Unemployment--Econometric models.

Unemployment.

Unemployment--Effect of monetary policy on.

Capital market.

Equilibrium (Economics).

Rational expectations (Economic theory).

Physical Description:

1 online resource (206 p.)

Edition:

1st ed.

Place of Publication:

New York : Oxford University Press, 2010.

Language Note:

English

Summary:

Expectations, Employment and Prices brings Keynesian economics into the 21st century by providing a new paradigm that explains how high unemployment could potentially persist forever without a little help from the government. The book fills in logical gaps that were missing from Keynes' General Theory of Employment Interest and Money by reconciling some of its key ideas with modern economic theory. Central bankers throughout the world are talking now about developing a second instrument of monetary policy in addition to controlling the interest rate. This book directly addresses this issue and

Contents:

Contents; PART I: The Theory of Unemployment; 1 What This Book Is About; 2 The Basic Model; 3 An Extension to Multiple Goods; 4 A Model with Investment and Saving; PART II: Using the Theory to Understand Data; 5 A New Way to Understand Business Cycle Facts; 6 The Great Depression: Telling the Keynesian Story in a New Way; 7 The Wartime Recovery: A Dynamic Model Where Fiscal Policy Matters; 8 The U.S. Economy from 1951 to 2000: Employment and GDP; PART III: The Theory of Prices; 9 Money and Uncertainty; 10 Money and Inflation Since 1951; 11 How to Fix the Economy; Notes; Bibliography; Index;

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

Description based on metadata supplied by the publisher and other sources.

ISBN:

1-282-50093-7

9786612500930

0-19-974154-9

OCLC:

550640839