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Inflation, Unemployment and Money (Hardcover, 1858th ed.)
Loot Price: R2,995
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Inflation, Unemployment and Money (Hardcover, 1858th ed.)
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This comprehensive book presents an original reconstruction of the
different interpretations of the Phillips curve. The authors
demonstrate through an in-depth analysis how it is possible to find
non-neoclassical foundations in the trade-off between inflation and
unemployment. The debate is presented from a historical perspective
which charts the evolution of the Phillips curve from a
non-neoclassical perspective, taking account of post Keynesian
literature.In the first part of the book the authors focus on the
origins of the Phillips curve and they critically analyse Richard
Lipsey's interpretation and approach to the Phillips curve. They
then explore the neoclassical and monetarist interpretation, paying
special attention to the evolution of monetarism and the Keynesian
critique of this approach. The Kaleckian, Keynesian and Marxist
interpretations of the Phillips trade-off are then presented. Here
the authors show how the relationship between inflation,
unemployment and money described in these approaches accurately
reflects the fundamental features of today's capitalist economies.
In the final section a new Phillips curve is constructed, taking
into account the non-accelerating inflation rate of unemployment
and the hysteresis of it. Inflation, Unemployment and Money will be
of interest to macroeconomists, post Keynesians and monetary and
financial economists.
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