The Macroeconomic Debate: Models of the Closed and Open Economy / Edition 1

The Macroeconomic Debate: Models of the Closed and Open Economy / Edition 1

by Brian Hillier
ISBN-10:
0631177582
ISBN-13:
9780631177586
Pub. Date:
01/16/1991
Publisher:
Wiley

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Overview

The Macroeconomic Debate: Models of the Closed and Open Economy / Edition 1

This textbook enables readers to understand the current debate amongst macroeconomists by examining the major theoretical controversies that have raged in macroeconomics since the publication of Keynes's General Theory.

Product Details

ISBN-13: 9780631177586
Publisher: Wiley
Publication date: 01/16/1991
Pages: 312
Product dimensions: 6.00(w) x 9.00(h) x 0.92(d)

Table of Contents

Preface.

Introduction.

Part I: Keynes versus the Classics: Will Money-Wage Cuts Remove Unemployment?.

1. The Classical Model.

2. Keynes's General Theory.

Part II: Was Keynes's General Theory Simply a Special Case of the Classical Model?.

3. Special cases of the IS-LM Model and the Neoclassical Synthesis.

4. The Re-interpretation of Keynes.

Part III: Does Fiscal Policy Really Matter? The Crowding-out Debate:.

5. Wealth Effects and the Government Budget Identity.

Part IV: Inflation and Unemployment: Is there a Trade-off?.

6. Inflation and Unemployment.

Part V: Does Macroeconomic Policy Really Matter?.

7. The New Classical Macroeconomics: An Introduction.

8. The New Classical Macroeconomics: Some Responses.

Part VI: The Open Economy: The Consequences of Exchange Rate Regimes for Domestic Stabilization:.

9. The Open Economy: An Introduction.

10. The IS-LM Model of a Small Open Economy.

11. Stock-flow Equilibrium in the Open Economy.

12. Prices, Exchange Rates and Policy.

Bibliography.

Index.

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