Description
Book SynopsisThis book honors the work of the influential economist Axel Leijonhufvud. His work in macroeconomics, monetary theory and European economic history has spurred great discussion over many years, and the authors of this book comprise some of the very best economists active today. The broad influence of his work is evident in the variety of subjects his readers address.
The topics range from Keynesian economics and the economics of high inflation to the micro-foundations of macroeconomics and economic history. The reader will find an intriguing compilation of ideas ranging from bankruptcy and collateral debt, the macroeconomics of broken promises, interest rate setting, growth patterns of macro models, innovation history to macroeconomics with intelligent autonomous agents.
Scholars and students of economic history, Keynesian economics and alternative monetary theory will be delighted with the work inspired by this influential thinker.
Trade Review'Roger Farmer is to be congratulated for editing this splendid set of essays in honour of Axel Leijonhufvud. . . I am sure that most of the readers of these essays will be excited and stimulated by their contents.' -- Economic Record
Table of ContentsContents: Preface Introduction 1. Axel Leijonhufvud and the Quest for Micro-foundations: Some Reflections David Laidler 2. Old-Keynesian Economics Roger E.A. Farmer 3. Interest Rate Setting in the Presence of Investment Prospects and Knightian Uncertainty Edmund S. Phelps 4. Macroeconomics of Broken Promises Daniel Heymann 5. Bankruptcy and Collateral in Debt Constrained Markets Timothy J. Kehoe and David K. Levine 6. Growth Patterns of Two Types of Macro-Models: Limiting Behavior of One- and Two-Parameter Poisson–Dirichlet Models Masanao Aoki 7. Time Inconsistency of Robust Control? Lars Peter Hansen and Thomas J. Sargent 8. A Tale of Two Countries: Innovation and Incentives Among Great Inventors in Britain and the United States, 1750–1930 B. Zorina Khan and Kenneth L. Sokoloff 9. Macroeconomics with Intelligent Autonomous Agents Peter Howitt Axel Leijonhufvud: Publications Index
