Wiley.com
Print this page Share

A Critical Essay on Modern Macroeconomic Theory

ISBN: 978-0-631-20989-8
Paperback
172 pages
April 1998, Wiley-Blackwell
List Price: US $68.95
Government Price: US $39.64
Enter Quantity:   Buy
A Critical Essay on Modern Macroeconomic Theory (0631209891) cover image
This is a Print-on-Demand title. It will be printed specifically to fill your order. Please allow an additional 10-15 days delivery time. The book is not returnable.

Macroeconomics began as the study of large-scale economic pathologies such as prolonged depression, mass unemployment and persistent inflation. In the early 1980s rational expectations and new classical economics dominated macroeconomic theory, with the result that such pathologies can hardly be discussed within the vocabulary of the theory. This book evolved from the authors' profound disagreement with that trend. It demonstrates not only how the new classical view got macroeconomics wrong, but how to go about doing macroeconomics the right way.


Following an explanation of microeconomic foundations, chapters introduce the basic elements for a better macro-model. The model is simple, but combined with the appropriate model of the labor market it can say useful things about the fluctuation of employment, the correlation between wages and employment, and the role for corrective monetary policy.

Related Titles

Economic Theory

by Dilip Mookherjee (Editor), Debraj Ray (Editor)
by Nicole Woolsey Biggart (Editor)
by Nicole Woolsey Biggart (Editor)
Back to Top