The Macroeconomic Debate: Models of the Closed and Open Economy

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.