Visit our Christmas Gift Finder
Keynesian Economics and Price Theory: Re-orientation of a Theory of Monetary Economy - Advances in Japanese Business and Economics 7 (Paperback)
  • Keynesian Economics and Price Theory: Re-orientation of a Theory of Monetary Economy - Advances in Japanese Business and Economics 7 (Paperback)
zoom

Keynesian Economics and Price Theory: Re-orientation of a Theory of Monetary Economy - Advances in Japanese Business and Economics 7 (Paperback)

(author)
£90.00
Paperback 207 Pages / Published: 09/10/2016
  • We can order this

Usually dispatched within 3 weeks

  • This item has been added to your basket

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.

Publisher: Springer Verlag, Japan
ISBN: 9784431563914
Number of pages: 207
Weight: 349 g
Dimensions: 235 x 155 x 12 mm
Edition: Softcover reprint of the original 1st ed. 201

You may also be interested in...

Currency Wars
Added to basket
£14.99
Paperback
The Money Machine
Added to basket
£10.99
Paperback
A History of Gold and Money
Added to basket
Macroeconomics
Added to basket
£58.99
Paperback
Future Money
Added to basket
£14.95
Paperback
Globalizing Capital
Added to basket
Economics: A Very Short Introduction
Added to basket
Macroeconomics
Added to basket
£57.99
Paperback
Modern Financial Markets & Institutions
Added to basket
The Death of Money
Added to basket
Unhappy Union
Added to basket
£15.00
Paperback
Logic Problems for Money Minds
Added to basket
Macroeconomics for Dummies, UK Edition
Added to basket

Reviews

Please sign in to write a review

Your review has been submitted successfully.