Topics In Applied Macrodynamic Theory

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Topics in Applied Macrodynamic Theory

Peter Flaschel,Gangolf Groh,Christian Proano,Willi Semmler
Topics in Applied Macrodynamic Theory Book PDF

Author : Peter Flaschel,Gangolf Groh,Christian Proano,Willi Semmler
Publisher : Springer Science & Business Media
Page : 523 pages
File Size : 53,9 Mb
Release : 2008-07-03
Category : Business & Economics
ISBN : 9783540725428

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Topics in Applied Macrodynamic Theory by Peter Flaschel,Gangolf Groh,Christian Proano,Willi Semmler Pdf

This insightful book presents topics in applied dynamic macrotheory for closed and open economies. The authors give an advanced treatment of macroeconomic topics such as the Phillips curve, forward and backward looking behavior, open economy macrodynamics, structural macroeconometric model building as well as the empirics of Keynesian oriented macro models. The dynamics of open economies in the context of interacting two country models are treated as well.

Topics in Classical Micro- and Macroeconomics

Peter Flaschel
Topics in Classical Micro and Macroeconomics Book PDF

Author : Peter Flaschel
Publisher : Springer Science & Business Media
Page : 517 pages
File Size : 48,6 Mb
Release : 2010-03-14
Category : Business & Economics
ISBN : 9783642003240

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Topics in Classical Micro- and Macroeconomics by Peter Flaschel Pdf

This book on Classical micro- and macrodynamics includes revised versions of papers which were written between 1983 and 2000, some jointly with co-authors, and it supplements them with recent work on the issues which are raised and treated in them. It attempts to demonstrate to the reader that themes of Classical economics, in particular in the tradition of Smith, Ricardo and Marx, can be synthesized into a coherent whole, from the perspective of formal model building. This is accomplished by means of mathematical techniques which, on the one hand, provide a consistent accounting framework (labor values and prices of p- duction) as point of reference for Classical micro- and macro-dynamics and which, on the other hand, attempt to apply these accounting schemes – or suitable ext- sions of them – by showing their usefulness as tools of analysis of the implications of technological change (labor values) and as potential tools for understanding the dynamics of market prices and of income distribution around their centers of gravity (production prices and the wage-pro?t curve).

The Macrodynamics of Capitalism

Peter Flaschel
The Macrodynamics of Capitalism Book PDF

Author : Peter Flaschel
Publisher : Springer Science & Business Media
Page : 402 pages
File Size : 40,5 Mb
Release : 2008-12-11
Category : Business & Economics
ISBN : 9783540879329

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The Macrodynamics of Capitalism by Peter Flaschel Pdf

This book provides an introduction to advanced macrodynamics, viewed as a di- quilibriumtheoryof?uctuatinggrowth. Itbuildsonanearlierattempttoreformulate 1 the foundations of macroeconomics from the perspective of real markets diseq- librium and the con?ict over income distribution between capital and labor. It does so, not because it wants to support the view that this class con?ict is inevitable, but with the perspective that an understanding of this con?ict may help to formulate socio-economic principles and policies that can help to overcome class con?ict at least in its cruder forms or that can even lead to rationally understandable proce- 2 dures and rules that turn this con?ict into a consensus-driven interaction between 3 capitalists or their representatives and the employable workforce. The book starts from established theories of temporary equilibrium positions, the forces of real growth, and the con?ict over income distribution, represented by basic modeling approaches, which it considers in detail in its Part I in order to prepare the ground for their integration in Part II of the book. In this way we inspect what types of models of disequilibrium, income distribution, and real growth we have at our disposal, as models that have proved to be of real interest and sound from a rigorous modeling perspective.

Unbalanced Growth from a Balanced Perspective

Carl Chiarella,Peter Flaschel,Reiner Franke,Ricardo Araujo,Matthieu Charpe,Christian R. Proaño
Unbalanced Growth from a Balanced Perspective Book PDF

Author : Carl Chiarella,Peter Flaschel,Reiner Franke,Ricardo Araujo,Matthieu Charpe,Christian R. Proaño
Publisher : Edward Elgar Publishing
Page : 456 pages
File Size : 40,9 Mb
Release : 2021-01-29
Category : Business & Economics
ISBN : 9781789908008

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Unbalanced Growth from a Balanced Perspective by Carl Chiarella,Peter Flaschel,Reiner Franke,Ricardo Araujo,Matthieu Charpe,Christian R. Proaño Pdf

As a whole this book adds the ‘Keynes’-component (K) to the Goodwinian vision of a ‘MKS-System’. It first provides a reconsideration of prominent past approaches towards the formation of Keynesian macrodynamics. Ultimately it aims to integrate Marx's Distributive Cycle and aspects of Schumpeter's reformulation of socialism and democracy theory, with Keynes' macro-theory of a ‘Tripartite Market Hierarchy’. This regards financial markets as being at the top, followed by goods markets which in turn are followed by the weakest element, the labor markets. It is completed by certain repercussions that influence the central causal nexus of these three fundamental macro-markets in the longer-run.

Financial Markets and the Macroeconomy

Carl Chiarella,Peter Flaschel,Reiner Franke,Willi Semmler
Financial Markets and the Macroeconomy Book PDF

Author : Carl Chiarella,Peter Flaschel,Reiner Franke,Willi Semmler
Publisher : Routledge
Page : 513 pages
File Size : 42,5 Mb
Release : 2009-06-02
Category : Biography & Autobiography
ISBN : 9781135984502

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Financial Markets and the Macroeconomy by Carl Chiarella,Peter Flaschel,Reiner Franke,Willi Semmler Pdf

This important new book from a group of Keynesian, but nonetheless technically-oriented economists explores one of the dominant paradigms in financial economics: the ‘intertemporal general equilibrium approach’.

Economic Growth and Long Cycles

Nikolaos Chatzarakis,Persefoni Tsaliki,Lefteris Tsoulfidis
Economic Growth and Long Cycles Book PDF

Author : Nikolaos Chatzarakis,Persefoni Tsaliki,Lefteris Tsoulfidis
Publisher : Taylor & Francis
Page : 301 pages
File Size : 55,7 Mb
Release : 2024-06-03
Category : Business & Economics
ISBN : 9781040031018

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Economic Growth and Long Cycles by Nikolaos Chatzarakis,Persefoni Tsaliki,Lefteris Tsoulfidis Pdf

Contemporary capitalism is characterized by periods of vigorous economic growth and periods of slow or even negative growth. This book draws on the classical political economy approach to consider both economic cycles and economic growth and draw conclusions about the inherent instability of the modern economy. The book shows that the work of the old classical economists (Smith and Ricardo) and Marx is theoretically sound and capable of providing answers to both growth and cycles. It also demonstrates the potential and natural integration of growth and cycles in a single model. The microeconomic foundation of this model is the labor theory of value, which continues with the General Law of Capital Accumulation, the Law of the Falling Rate of Profit, and the movement of the Industrial Reserve Army of Labour. Finally, a dynamic model of growth-cum-cycles is constructed consisting of the evolution and interaction of five key variables, namely, the rate of profit, the propensity to invest in fixed capital, technological change, the reserve army of labour, and the rate of capital devaluation. The analysis demonstrates that economic growth and cycles are not disconnected from each other, as they have been treated in the literature, but rather interdependent aspects of the same evolutionary process of a capitalist economy. This book will interest readers in the history of economic thought, economic growth and development, macroeconomics, and political economy.

Reconstructing Keynesian Macroeconomics Volume 1

Carl Chiarella,Peter Flaschel,Willi Semmler
Reconstructing Keynesian Macroeconomics Volume 1 Book PDF

Author : Carl Chiarella,Peter Flaschel,Willi Semmler
Publisher : Routledge
Page : 401 pages
File Size : 48,5 Mb
Release : 2012-03-29
Category : Business & Economics
ISBN : 9781136650376

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Reconstructing Keynesian Macroeconomics Volume 1 by Carl Chiarella,Peter Flaschel,Willi Semmler Pdf

This book represents the first of three volumes offering a complete reinterpretation and restructuring of Keynesian macroeconomics and a detailed investigation of the disequilibrium adjustment processes characterizing the financial, the goods and the labour markets and their interaction. It questions in a radical way the evolution of Keynesian macroeconomics after World War II and focuses on the limitations of the traditional Keynesian approach until it fell apart in the early 1970s, as well as the inadequacy of the new consensus in macroeconomics that emerged from the Monetarist critique of Keynesianism. Professors Chiarella, Flaschel and Semmler investigate basic methodological issues, the pitfalls of the Rational Expectations School, important feedback channels in the tradition of Tobin’s work, and theories of the wage-price spiral and the evidences for them. The book uses primarily partial approaches, the integration of which will be the subject of subsequent volumes. With its focus on Keynesian propagation mechanisms, the research in this book provides a unique alternative to the black-box shock-absorber approaches that dominate modern macroeconomics. Reconstructing Keynesian Macroeconomics should be of interest to students and researchers who want to look at alternatives to the mainstream macrodynamics that emerged from the Monetarist critique of Keynesianism.

Reconstructing Keynesian Macroeconomics Volume 2

Carl Chiarella,Peter Flaschel,Willi Semmler
Reconstructing Keynesian Macroeconomics Volume 2 Book PDF

Author : Carl Chiarella,Peter Flaschel,Willi Semmler
Publisher : Routledge
Page : 498 pages
File Size : 46,6 Mb
Release : 2013-01-17
Category : Business & Economics
ISBN : 9781136195808

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Reconstructing Keynesian Macroeconomics Volume 2 by Carl Chiarella,Peter Flaschel,Willi Semmler Pdf

This book represents the second of three volumes offering a complete reinterpretation and restructuring of Keynesian macroeconomics and a detailed investigation of the disequilibrium adjustment processes characterizing the financial, the goods and the labour markets and their interaction. In this second volume the authors present a detailed analysis and comparison of two competing types of approaches to Keynesian macroeconomics, one that integrates goods, labour and financial markets, and another from the perspective of a conventional type of LM-analysis or interest-rate policy of the central bank. The authors employ rigorous dynamic macro-models of a descriptive and applicable nature, which will be of interest to all macroeconomists who use formal model-building in their investigations. The research in this book with its focus on Keynesian propagation mechanisms provides a unique alternative to the black-box shock-absorber approaches that dominate modern macroeconomics. The main conclusion of the work is that policy makers need to reconsider Keynesian ideas, but in the modern form in which they are expressed in this volume. Reconstructing Keynesian Macroeconomics will be of interest to students and researchers who want to look at alternatives to the mainstream macrodynamics that emerged from the Monetarist critique of Keynesianism. This book will also engage central bankers and macroeconomic policy makers.

Keynes and Modern Economics

Ryuzo Kuroki
Keynes and Modern Economics Book PDF

Author : Ryuzo Kuroki
Publisher : Routledge
Page : 290 pages
File Size : 46,9 Mb
Release : 2012-08-21
Category : Business & Economics
ISBN : 9781136338854

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Keynes and Modern Economics by Ryuzo Kuroki Pdf

It is a little over seventy years since John Maynard Keynes produced his magnum opus, The General Theory of Employment, Interest, and Money. Keynes' staggering achievement has been to remain relevant to economics and other disciplines even today and this book reflects that with an examination on his influence on modern economics. Leading economists from a variety of backgrounds, including Ed Nell and Heinz Kurz have joined forces in this volume with internationally respected Japanese scholars to produce a strong collection of contributions to the debate on Keynes' monumental legacy. This book will be vital reading for historians of economic thought, economic methodologists as well as those economists with an interest in the overall development of their discipline.

Reconsidering Funds of Hedge Funds

Greg N. Gregoriou
Reconsidering Funds of Hedge Funds Book PDF

Author : Greg N. Gregoriou
Publisher : Academic Press
Page : 592 pages
File Size : 45,7 Mb
Release : 2012-12-31
Category : Business & Economics
ISBN : 9780124045941

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Reconsidering Funds of Hedge Funds by Greg N. Gregoriou Pdf

How will the funds of hedge funds (FoHF) business have to change to survive in the wake of the 2008-2012 financial crisis? This new research provides valuable insight. Reconsidering Funds of Hedge Funds presents the first comprehensive views of UCITS as well as recent trends in due diligence, risk management, and hedge fund deaths and survivors. The book contains original chapters by 22 academics and 16 hedge fund professionals, and includes two sections on performance: one that looks at UCITS FoHF and one that deals with traditional FoHF performance. Most chapters examine aspects of the 2008-2012 financial crisis, and almost every chapter addresses fund of hedge funds' management process before, during, and after the crisis. Covers recent advances in risk management, due diligence, tail risk, and allocation Presents an in-depth analysis of UCITs Balances academic and professional viewpoints

Reconstructing Keynesian Macroeconomics

Carl Chiarella,Peter Flaschel,Willi Semmler
Reconstructing Keynesian Macroeconomics Book PDF

Author : Carl Chiarella,Peter Flaschel,Willi Semmler
Publisher : Routledge
Page : 498 pages
File Size : 42,7 Mb
Release : 2012
Category : Business & Economics
ISBN : 9780415668576

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Reconstructing Keynesian Macroeconomics by Carl Chiarella,Peter Flaschel,Willi Semmler Pdf

This book represents the second of three volumes offering a complete reinterpretation and restructuring of Keynesian macroeconomics and offers a detailed analysis and comparison of two competing types of approaches to Keynesian macroeconomics.

Open Economy Macrodynamics

Toichiro Asada,Carl Chiarella,Peter Flaschel,Reiner Franke
Open Economy Macrodynamics Book PDF

Author : Toichiro Asada,Carl Chiarella,Peter Flaschel,Reiner Franke
Publisher : Springer Science & Business Media
Page : 544 pages
File Size : 50,9 Mb
Release : 2012-11-10
Category : Business & Economics
ISBN : 9783540247937

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Open Economy Macrodynamics by Toichiro Asada,Carl Chiarella,Peter Flaschel,Reiner Franke Pdf

In the first part of this book, we treat interacting and small open economies. We do this from an historical perspective, starting from the Classical model of the gold standard and the specie-flow mechanism and aim to show there that the Dornbusch IS-LM-PC approach, with or without rational expectations, can still be considered as a (if not the) core contribution to contemporaneous open economy macrodynamics, also on the level of structural macroeconometric model building. In the second part we then extend this analysis to the incorporation of more disequilibrium on the real markets, prominent further feedback channels of the macrodynamic literature and integrated macromodel building. We start from the closed economy, consider large open economies in a fixed exchange rate system, small open economies subject to high capital mobility, and finally two large interacting economies like the USA and Euroland. Our macrofounded approach extends and integrates non-market clearing traditions to macrodynamics and can be usefully compared with the New Keynesian approaches which are generally rigorously microfounded, but often much more limited in scope in capturing full market and agent interactions.

Topics in Geophysical Fluid Dynamics: Atmospheric Dynamics, Dynamo Theory, and Climate Dynamics

M. Ghil,S. Childress
Topics in Geophysical Fluid Dynamics Atmospheric Dynamics Dynamo Theory and Climate Dynamics Book PDF

Author : M. Ghil,S. Childress
Publisher : Springer Science & Business Media
Page : 505 pages
File Size : 51,9 Mb
Release : 2012-12-06
Category : Science
ISBN : 9781461210528

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Topics in Geophysical Fluid Dynamics: Atmospheric Dynamics, Dynamo Theory, and Climate Dynamics by M. Ghil,S. Childress Pdf

The vigorous stirring of a cup of tea gives rise, as we all know, to interesting fluid dynamical phenomena, some of which are very hard to explain. In this book our "cup of tea" contains the currents of the Earth's atmosphere, oceans, mantle, and fluid core. Our goal is to under stand the basic physical processes which are most important in describing what we observe, directly or indirectly, in these complex systems. While in many respects our understanding is measured by the ability to predict, the focus here will be on relatively simple models which can aid our physical intuition by suggesting useful mathematical methods of investiga tion. These elementary models can be viewed as part of a hierarchy of models of increasing complexity, moving toward those which might be use fully predictive. The discussion in this book will deal primarily with the Earth. Interplanetary probes of Venus, Mars, Jupiter and Saturn have revealed many exciting phenomena which bear on geophysical fluid dynamics. They have also enabled us to see the effect of changing the values of certain parameters, such as gravity and rotation rate, on geophysical flows. On the other hand, satellite observations of our own planet on a daily and hourly basis have turned it into a unique laboratory for the study of fluid motions on a scale never dreamt of before: the motion of cyclones can be observed via satellite just as wing tip vortices are studied in a wind tunnel.

Landmark Papers in Economic Fluctuations, Economic Policy, and Related Subjects

Lawrence Robert Klein
Landmark Papers in Economic Fluctuations Economic Policy and Related Subjects Book PDF

Author : Lawrence Robert Klein
Publisher : Edward Elgar Publishing
Page : 716 pages
File Size : 52,6 Mb
Release : 2001
Category : Business & Economics
ISBN : STANFORD:36105025766184

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Landmark Papers in Economic Fluctuations, Economic Policy, and Related Subjects by Lawrence Robert Klein Pdf

Forty papers from 1907 to 1990 address topics like stabilization policies, unemployment and wage rates, business cycles, debt, economic expansion, dynamic theory, home investment, capital accumulation and the allocation of resources, forecasts and economic policy, uncertainty, stochastic models, economic equilibrium, trade cycles, rationing and the cost of living, interest rates and prices, productivity, income distribution, interest theory, and Neumann models. Annotation copyrighted by Book News, Inc., Portland, OR

An Alternative Macroeconomic Theory: The Kaleckian Model and Post-Keynesian Economics

John E. King
An Alternative Macroeconomic Theory The Kaleckian Model and Post Keynesian Economics Book PDF

Author : John E. King
Publisher : Springer Science & Business Media
Page : 232 pages
File Size : 49,9 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9789400918108

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An Alternative Macroeconomic Theory: The Kaleckian Model and Post-Keynesian Economics by John E. King Pdf

lE. King Michael Kalecki (1899-1970) was one of the most important, and also one of the most underrated, economists of the twentieth century. In the 1930s he made a series of fundamental contributions to macroeconomic theory which anticipated, complemented and in some ways surpassed those of Keynes. Almost entirely self-educated in economics, and influenced rul much by Marxism as by mainstream theory, Kalecki very largely escaped the fatal embrace of pre-Keynesian orthodoxy, which blunted the thrust of the General Theory. Many Post Keynesians, in particular, have found in his work the elements of a convincing alternative to what Joan Robinson -Kalecki's greatest advocate in the English-speaking world - was scathingly to describe as 'bastard Keynesianism' . But Kalecki was never interested in theory for its own sake. He approached economics from a practical perspective, wrote extensively on applied and policy questions, and in the [mal decades of his life turned his attention increasingly to problems of economic development and the management of state socialist economies.