Macroeconomic Theory

Volker Böhm (Autor)

Buch | Hardcover

XVII, 423 Seiten

2017 | 1st ed. 2017
Springer International Publishing (Verlag)
978-3-319-60148-9 (ISBN)

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This textbook offers a unique approach to macroeconomic theory built on microeconomic foundations of monetary macroeconomics within a unified framework of an intertemporal general equilibrium model extended to a sequential and dynamic analysis. It investigates the implications of expectations and of stationary fiscal policies on allocations, on the quantity of money, and on the dynamic evolution of the economy with and without noise. The text contrasts and compares the two main competing approaches in macroeconomics within the same intertemporal model of a closed monetary economy: the one postulating full price flexibility to guarantee equilibrium in all markets at all times under perfect foresight or rational expectations, versus the so called disequilibrium approach where trading occurs at non- market-clearing prices and wages when these adjust sluggishly from period to period in response to market disequilibrium signals.

Volker Böhm is a Professor Emeritus at Bielefeld University.

Introduction.- Microeconomic Foundations.- Models of Monetary Equilibrium.- Dynamics of Monetary Equilibrium Models.- Fiscal Policy and the Dynamics of Monetary Equilibrium.- The Keynesian Model with Money.- Dynamics in Disequilibrium - Endogenous Business Cycles.- Disequilibrium Dynamics with Random Perturbations.- Dynamical Systems in Discrete Time.- Proofs and Further Results.

Erscheinungsdatum	21.11.2017
Reihe/Serie	Springer Texts in Business and Economics
Zusatzinfo	XVII, 423 p. 175 illus., 76 illus. in color.
Verlagsort	Cham
Sprache	englisch
Maße	155 x 235 mm
Gewicht	741 g
Themenwelt	Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
Schlagworte	adaptive dynamics • Bifurcation • Business Cycles • Disequilibrium analysis • Economics • Economics and finance • Economic theory & philosophy • Economic theory & philosophy • Economic Theory/Quantitative Economics/Mathematica • Equilibrium Analysis • Game Theory • Game Theory, Economics, Social and Behav. Sciences • Macroeconomics • Macroeconomics/Monetary Economics//Financial Econo • Monetary Economics • Monetary macroeconomic model • Nonlinear dynamic analysis • Public Finance • Public finance & taxation • Public finance & taxation • Rational expectations dynamics • stochastic analysis
ISBN-10	3-319-60148-2 / 3319601482
ISBN-13	978-3-319-60148-9 / 9783319601489
Zustand	Neuware