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Author: Anthony Crescenzi Publisher: FT Press ISBN: 0132595214 Category : Business & Economics Languages : en Pages : 305
Book Description
Since the 1930s, governments have overcome recessions by borrowing and spending to temporarily replace lost consumer and business spending. What happens when they can't do it anymore? In Beyond the Keynesian Endpoint , PIMCO Executive VP Tony Crescenzi offers a sobering tour of today's unprecedented global sovereign debt crisis.
Author: Stephen A. Marglin Publisher: Harvard University Press ISBN: 0674971027 Category : Business & Economics Languages : en Pages : 921
Book Description
Back to the future: a heterodox economist rewrites Keynes's General Theory of Employment, Interest, and Money to serve as the basis for a macroeconomics for the twenty-first century. John Maynard Keynes's General Theory of Employment, Interest, and Money was the most influential economic idea of the twentieth century. But, argues Stephen Marglin, its radical implications were obscured by Keynes's lack of the mathematical tools necessary to argue convincingly that the problem was the market itself, as distinct from myriad sources of friction around its margins. Marglin fills in the theoretical gaps, revealing the deeper meaning of the General Theory. Drawing on eight decades of discussion and debate since the General Theory was published, as well as on his own research, Marglin substantiates Keynes's intuition that there is no mechanism within a capitalist economy that ensures full employment. Even if deregulating the economy could make it more like the textbook ideal of perfect competition, this would not address the problem that Keynes identified: the potential inadequacy of aggregate demand. Ordinary citizens have paid a steep price for the distortion of Keynes's message. Fiscal policy has been relegated to emergencies like the Great Recession. Monetary policy has focused unduly on inflation. In both cases the underlying rationale is the false premise that in the long run at least the economy is self-regulating so that fiscal policy is unnecessary and inflation beyond a modest 2 percent serves no useful purpose. Fleshing out Keynes's intuition that the problem is not the warts on the body of capitalism but capitalism itself, Raising Keynes provides the foundation for a twenty-first-century macroeconomics that can both respond to crises and guide long-run policy.
Author: Michel De Vroey Publisher: Cambridge University Press ISBN: 0521898439 Category : Business & Economics Languages : en Pages : 451
Book Description
This book retraces the history of macroeconomics from Keynes's General Theory to the present. Central to it is the contrast between a Keynesian era and a Lucasian - or dynamic stochastic general equilibrium (DSGE) - era, each ruled by distinct methodological standards. In the Keynesian era, the book studies the following theories: Keynesian macroeconomics, monetarism, disequilibrium macro (Patinkin, Leijongufvud, and Clower) non-Walrasian equilibrium models, and first-generation new Keynesian models. Three stages are identified in the DSGE era: new classical macro (Lucas), RBC modelling, and second-generation new Keynesian modeling. The book also examines a few selected works aimed at presenting alternatives to Lucasian macro. While not eschewing analytical content, Michel De Vroey focuses on substantive assessments, and the models studied are presented in a pedagogical and vivid yet critical way.
Author: Tony Cutler Publisher: Routledge ISBN: 1136521216 Category : Business & Economics Languages : en Pages : 175
Book Description
Presenting a coherent interpretation of the development of economic and social policy in Britain since 1945, this book analyses the political assumptions underlying post-war economic policy. It traces these assumptions through the classic texts of Keynes and Beveridge, the architects of limited, non-socialist state intervention to secure the welfare state and full employment. Topics covered include: * 'Private saving' versus company pensions * The level and composition of employment in Britain
Author: Sheila C. Dow Publisher: Edward Elgar Publishing ISBN: Category : Business & Economics Languages : en Pages : 296
Book Description
While the first conference (1993) focused on methodological issues, the 13 papers of the second are more concerned with developments in theory, empirical work, and policy questions as they seek to carry on the insights of economist John Maynard Keynes into and through the 1990s. Among the themes are the relationship between microeconomic and macroeconomic levels, uncertainty and its implications for individual behavior as it underpins macroeconomic behavior, and applying post- Keynesian theory to policy questions particularly in the international arena. The proceedings of the first conference were published under a separate title, and this series begins Volume One with the second conference. Annotation copyrighted by Book News, Inc., Portland, OR
Author: Joseph R. Cammarosano Publisher: Lexington Books ISBN: 1498518591 Category : Business & Economics Languages : en Pages : 323
Book Description
Most works on John Maynard Keynes deal with his General Theory of Employment, Interest and Money and his theory of unemployment. Much less well-known are his publications on money, finance, and international trade. This book fills that void by providing an analysis of Keynes’ works from “Indian Currency and Finance” to “The Proposal for a Currency Union.” It seeks to show that his concerns extended beyond his magnum opus to include the monetary and financial concerns of Great Britain and the world at large.
Author: Tony Crescenzi Publisher: FT Press ISBN: 0132597276 Category : Business & Economics Languages : en Pages : 55
Book Description
What happens now? Economics in an age when fiscal stimulus can’t be funded and no longer works. After Lehman fell, the scope of the financial crisis became so great that only the fiscal and monetary authorities possessed balance sheets large enough to resolve it. But if the U.S. is backing its financial system, who’s backing the U.S.? Practically, nations have reached “the Keynesian Endpoint”: No more balance sheets are left to support either economic activity or the financial system.
Author: Egon Matzner Publisher: Edward Elgar Publishing ISBN: Category : Business & Economics Languages : en Pages : 294
Book Description
This work aims to go beyond generalizations to take a hard-hitting look at the real strenths and weaknesses of Keynesian demand management and supply side economics. In particular, it looks at the way in which Keynesianism fails to reconcile high levels of competitiveness with full employment.
Author: Sheila C. Dow
Author: Sheila C. Dow
Author: Anthony Crescenzi
Author: Stephen A. Marglin
Author: Sheila C. Dow
Author: Michel De Vroey
Author: Tony Cutler
Author: Sheila C. Dow
Author: Joseph R. Cammarosano
Author: Tony Crescenzi
Author: Egon Matzner