Modern Business Cycle Theory
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Book Overview
The new classical approach to macroeconomics, which assumes that people gather and use economic information efficiently, has been the most important theoretical advance since the Keynesian revolution of the 1930s. This book surveys the major contributions of the "second generation" of proponents of the new classical approach, emphasizing real business cycle theories and applying them to a variety of phenomena.
The chapters include expositions of growth theory, real models of business fluctuations, the informational role of prices, consumption, fiscal policy, rules versus discretion in monetary policy, time consistency and policy, and monetary models. Although the chapters are aimed at advanced undergraduate- and graduate-level students, they will also be of interest to researchers who are looking for a compact and original exposition of the new classical macroeconomics.Format:Hardcover
Language:English
ISBN:0674578600
ISBN13:9780674578609
Release Date:January 1989
Publisher:Harvard University Press
Length:348 Pages
Weight:1.45 lbs.
Dimensions:1.2" x 6.4" x 9.6"
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