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Books > Business & Economics > Economics > Macroeconomics > Monetary economics
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Monetary Macrodynamics (Paperback)
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Monetary Macrodynamics (Paperback)
Series: Routledge Frontiers of Political Economy
Expected to ship within 12 - 19 working days
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This book investigates the interaction of effective goods demand
with the wage-price spiral, and the impact of monetary policy on
financial and the real markets from a Keynesian perspective.
Endogenous business fluctuations are studied in the context of
long-run distributive cycles in an advanced, rigorously formulated
and quantitative setup. The material is developed by way of
self-contained chapters on three levels of generality, an advanced
textbook level, a research-oriented applied level and on a third
level that shows how the interaction of real with financial markets
has to be modelled from a truly integrative Keynesian perspective.
Monetary Macrodynamics shows that the balanced growth path of a
capitalist economy is unlikely to be attracting and that the
cumulative forces that surround it are controlled in the large by
changes in the behavioural factors that drive the wage-price spiral
and the financial markets. Such behavioural changes can in fact be
observed in actual economies in the interaction of demand-driven
business fluctuations with supply-driven wage and price dynamics as
they originate from the conflict over income distribution between
capital and labour. The book is a detailed critique of US
mainstream macroeconomics and uses rigorous dynamic macro-models of
a descriptive and applicable nature. It will be of particular
relevance to postgraduate students and researchers interested in
disequilibrium processes, real wage feedback channels, financial
markets and portfolio choice, financial accelerator mechanisms and
monetary policy.
General
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