Description

Book Synopsis
This book presents an empirically grounded alternative to prevailing macroeconomic orthodoxy. Using evidence from behavioral economics and insights from Keynesian and institutionalist traditions, it is essential reading for graduate students, researchers and professional economists who have become critical of graduate-level macroeconomic theory.

Table of Contents
1. Introduction: the state of macroeconomics; 2. The Lucas critique and representative agents; 3. Household consumption and saving; 4. Saving in a corporate economy; 5. Phillips curves and the natural rate of unemployment; 6. Fairness, money illusion and path dependency; 7. Earnings inequality, power bias and mismatch; 8. Macroeconomic adjustment and Keynes' instability argument; 9. Growth and cycles; 10. Endogenous growth cycles with or without price flexibility; 11. Secular stagnation and functional finance; 12. Concluding comments: evidence-based macroeconomics and economic theory; Index.

Structuralist and Behavioral Macroeconomics

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    A Paperback by Peter Skott

    £999.99

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      Book details

      Publisher Cambridge University Press
      Published 9/21/2023 12:00:00 AM
      ISBN-13 9781009367301
      978-1009367301
      ISBN-10 1009367307
      Also in:
      Economic theory and philosophy

      Description

      Book Synopsis
      This book presents an empirically grounded alternative to prevailing macroeconomic orthodoxy. Using evidence from behavioral economics and insights from Keynesian and institutionalist traditions, it is essential reading for graduate students, researchers and professional economists who have become critical of graduate-level macroeconomic theory.

      Table of Contents
      1. Introduction: the state of macroeconomics; 2. The Lucas critique and representative agents; 3. Household consumption and saving; 4. Saving in a corporate economy; 5. Phillips curves and the natural rate of unemployment; 6. Fairness, money illusion and path dependency; 7. Earnings inequality, power bias and mismatch; 8. Macroeconomic adjustment and Keynes' instability argument; 9. Growth and cycles; 10. Endogenous growth cycles with or without price flexibility; 11. Secular stagnation and functional finance; 12. Concluding comments: evidence-based macroeconomics and economic theory; Index.

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