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Macroeconomic Theory

  • Volker Böhm

Part of the Springer Texts in Business and Economics book series (STBE)

Table of contents

  1. Front Matter
    Pages i-xvii
  2. Volker Böhm
    Pages 1-12
  3. Volker Böhm
    Pages 13-33
  4. Volker Böhm
    Pages 35-174
  5. Volker Böhm
    Pages 175-258
  6. Volker Böhm
    Pages 269-289
  7. Back Matter
    Pages 375-423

About this book

Introduction

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.

This novel text blends smoothly the behavioral tools that underlie modern macro: real and monetary, short and long run, classical and Keynesian, competitive and monopolistic, deterministic and stochastic. It belongs in the reading list of teachers and in the library of every practitioner.
Prof. Costas Azariadis, Washington University in St. Louis, USA

Keywords

Monetary macroeconomic model Nonlinear dynamic analysis Stochastic analysis Adaptive dynamics Rational expectations dynamics Equilibrium analysis Disequilibrium analysis Business cycles Bifurcation

Authors and affiliations

  • Volker Böhm
    • 1
  1. 1.Faculty of Business Administration and EconomicsBielefeld University BielefeldGermany

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-319-60149-6
  • Copyright Information Springer International Publishing AG 2017
  • Publisher Name Springer, Cham
  • eBook Packages Economics and Finance
  • Print ISBN 978-3-319-60148-9
  • Online ISBN 978-3-319-60149-6
  • Series Print ISSN 2192-4333
  • Series Online ISSN 2192-4341
  • Buy this book on publisher's site
Industry Sectors
Finance, Business & Banking