Reconstructing Keynesian macroeconomics. Volume 1, Partial perspectives / Carl Chiarella, Peter Flaschel, and Willi Semmler.

Format:

Book

Author/Creator:

Chiarella, Carl.

Contributor:

Flaschel, Peter, 1943-

Semmler, Willi.

Taylor & Francis eBooks.

Series:

Routledge frontiers of political economy ; 149.

Routledge frontiers of political economy ; 149

Language:

English

Subjects (All):

Keynesian economics.

Macroeconomics.

Physical Description:

1 online resource (li, 346 pages) : illustrations.

polychrome

Place of Publication:

Abingdon, Oxon ; New York, NY : Routledge, 2012.

[Place of publication not identified] : [publisher not identified], [2012]

System Details:

text file

Contents:

Reconstructing Keynesian Macroeconomics Volume 1 Partial perspectives; Copyright; Contents; List of figures; List of tables; Notation; Notes on contributors; Introduction: Keynesian macroeconomics; The disarray in Keynesian macroeconomics; Keynes' Business Cycle Analysis; Keynes or Frisch Paradigm? Some further thoughts; From DSGE to DSGD model building; Plan of the three volumes; PART I: Methodological issues: macro-frequencies and dimensions; 1 Applicable macro is continuous time macro; 1.1 Introduction; 1.2 The satellite nature of macroeconomic period models

1.3 1-D equivalence: the non-linear Solow model of economic growth1.4 The emergence of "chaos" from a non-linear 1-D continuous time model?; 1.5 The linearized New Keynesian baseline model: global 2-D equivalence; 1.6 Conclusion; 2 Walras' Law and the role of dimensional analysis in economics; 2.1 Introduction; 2.2 A standard macro-model and its proper dimensional interpretation; 2.3 Discrete time version and Walras' Law of Flows; 2.4 Walras' Law of Flows in continuous time; 2.5 Walras' Laws for Stocks and Flows; 2.6 Conclusions; 3 Lucas (1975): too ad hoc?

3.1 Dimensional analysis and macroeconomic theorizing3.2 Some basic aspects of dimensional analysis; 3.3 Log linear ad hockeries; 3.4 Conclusions; PART II: Model-consistent forecasts, determinacy and the rational expectations school; 4 Price flexibility and instability: Tobin (1975) reconsidered; 4.1 Introduction; 4.2 Basic features of an extended Tobin model; 4.3 The case of adaptive expectations; 4.4 The case of myopic perfect foresight; 4.5 Conclusion; Appendix: mathematical proofs; 5 Stock market driven multiplier dynamics: a reconsideration; 5.1 The Blanchard (1981) model reconsidered

5.2 Adding growth: the point of departure for empirical analysis5.3 The model in intensive form; 5.4 Steady state and stability analysis; 5.5 Simplifying the output growth-stock market interaction; 5.6 Stability analysis; 5.7 Conclusions; Appendix I: model equations; Appendix II: substituting unobservables through observables; 6 Inflation and perfect foresight: implications of non-linearity; 6.1 Introduction; 6.2 Non-linear money demand and inflation; 6.3 Monetary shocks and the emergence of relaxation oscillations; 6.4 Monetary growth and inflation; 6.5 Conclusions

7 Determinacy in the New-Keynesian sticky wage/price model7.1 Introduction; 7.2 The period model; 7.3 Determinacy and the concept of a variable period length; 7.4 Reformulation of the model with a variable period length; 7.5 The determinacy proposition; 7.6 Determinacy under a variable period length; 7.7 Conclusions; Appendix: proof of the proposition; PART III: Macroeconomic adjustment processes: theory; 8 Disequilibrium growth theory with insider-outsider effects; 8.1 Introduction; 8.2 The case of fixed proportions in production; 8.3 Smooth factor substitution

Notes:

Includes bibliographical references and index.

Electronic reproduction. London Available via World Wide Web.

Restricted: Printing from this resource is governed by The Legal Deposit Libraries (Non-Print Works) Regulations (UK) and UK copyright law currently in force.

Description based on online resource; title from digital title page (viewed on March 25, 2021).

Other Format:

Print version: Chiarella, Carl. Reconstructing Keynesian macroeconomics.

ISBN:

9781136650376

1136650377

9780203805763

0203805763

Publisher Number:

99986860724

Access Restriction:

Restricted for use by site license.