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Keynesian Macroeconomic Theory
2001In Chapter 1 we began our discussion of macroeconomic theory with a view of nominal wages and prices as fully flexible. This approach ensures that markets are always in equilibrium, in the sense that there is continual balance between the quantities demanded and the quantities supplied.
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Classical Macroeconomic Theory
2001We begin with an issue described by David Laidler in the 1993 edition of his book, The Demand for Money: Theories, Evidence, and Problems, as follows “Macroeconomics is controversial. There is no single model upon whose validity all practitioners agree.
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Macroeconomic Theory and Macroeconomic Pedagogy: An Introduction
2009The purpose of this book, as its title suggests, is to reflect on the relationship between contemporary macroeconomic theory and prevailing techniques and practices in undergraduate macroeconomics education. Its primary concern is with the development of simple macroeconomic teaching models in light of recent developments in macroeconomic theory, with ...
Giuseppe Fontana, Mark Setterfield
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Keynesian Macroeconomic Theory
1994The underlying principle of the Keynesian theory of national income and employment is the effective demand principle, which is explained in an expenditure—income scheme where equality of aggregate demand and aggregate supply of goods is defined in terms of equality of aggregate expenditure and national income, both in real terms.
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2000
This book is essentially devoted to a presentation of microeconomic theory and multisectoral models. But, in Ch.7, we studied some contributions to mathematical economics which belong to the field of macroeconomic theory. Now it seems useful to make a brief detour, from our main subjects, and present the elements of one sector growth theory, starting ...
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This book is essentially devoted to a presentation of microeconomic theory and multisectoral models. But, in Ch.7, we studied some contributions to mathematical economics which belong to the field of macroeconomic theory. Now it seems useful to make a brief detour, from our main subjects, and present the elements of one sector growth theory, starting ...
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Chaos Theory and Macroeconomics
1991Chaos theory has entered the old debate between Classicals and Keynesians regarding the nature of macroeconomic fluctuations and the ability and desirability of government efforts to stabilize them. In its current form between New Classicals and New Keynesians both sides use the assumption of rational expectations to varying degrees.
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