Read more
Informationen zum Autor Carl Chiarella is Professor of Quantitative Finance in the School of Finance and Economics at the University of Technology! Sydney. Peter Flaschel is Professor of Economics at the University of Bielefeld. Reiner Franke is a member of the Institute of Monetary Economics at the Technical University! Vienna. Klappentext This book presents a dynamic model of the macroeconomy that will appeal both to theorists and economic policy-makers. Zusammenfassung An advanced model of economic activity! inflation and income distribution in a Keynesian spirit is developed in this book. The model is used to produce macroeconomic simulation studies and a detailed study of the macroeconomic impact of various monetary policy rules. It will appeal both to theorists and economic policy-makers. Inhaltsverzeichnis Figures; Tables; Notation; Foreword J. Barkley Rosser, Jr; Preface; 1. Competing approaches to Keynesian macrodynamics; Part I. Textbook Approaches: 2. AS-AD growth theory: a complete analysis of the textbook model; 3. Disequilibrium growth: the point of departure; Part II. Analytical Framework. Theory and Evidence: 4. The Keynes-Metzler-Goodwin model; 5. Calibration of three wage-price modules; 6. Calibration of the full KMG model; 7. Subsystems and sensitivity analysis of the KMG model; Part III. Monetary Policy: 8. The Taylor Rule in small macro models; 9. Incorporating the Taylor Rule into KMG; References.
