Authors:
- Presents a unique approach to macroeconomic theory based on microeconomic foundations, general equilibrium theory, and dynamic analysis of fiscal and monetary policies
- Provides a synthesis of equilibrium and disequilibrium macro models with money unifying the features of microfounded temporary equilibrium and Keynesian models
- Analyzes the dynamics of business cycles in deterministic and stochastic environments using bifurcation theory
- Exhibits the power of numerical methods to investigate time series of explicit nonlinear dynamic stochastic monetary models
- Includes supplementary material: sn.pub/extras
Part of the book series: Springer Texts in Business and Economics (STBE)
Buy it now
Buying options
Tax calculation will be finalised at checkout
Other ways to access
This is a preview of subscription content, log in via an institution to check for access.
Table of contents (8 chapters)
-
Front Matter
-
Back Matter
About this book
This textbook offers a unique approach to macroeconomic theory built on microeconomic foundations of monetary macroeconomics within a unified framework of an intertemporal general equilibrium model extended to a sequential and dynamic analysis. It investigates the implications of expectations and of stationary fiscal policies on allocations, on the quantity of money, and on the dynamic evolution of the economy with and without noise. The text contrasts and compares the two main competing approaches in macroeconomics within the same intertemporal model of a closed monetary economy: the one postulating full price flexibility to guarantee equilibrium in all markets at all times under perfect foresight or rational expectations, versus the so called disequilibrium approach where trading occurs at non- market-clearing prices and wages when these adjust sluggishly from period to period in response to market disequilibrium signals.
Authors and Affiliations
-
Faculty of Business Administration and Economics, Bielefeld University , Bielefeld, Germany
Volker Böhm
Bibliographic Information
Book Title: Macroeconomic Theory
Authors: Volker Böhm
Series Title: Springer Texts in Business and Economics
DOI: https://doi.org/10.1007/978-3-319-60149-6
Publisher: Springer Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: Springer International Publishing AG 2017
Hardcover ISBN: 978-3-319-60148-9Published: 13 November 2017
Softcover ISBN: 978-3-319-86790-8Published: 24 May 2018
eBook ISBN: 978-3-319-60149-6Published: 30 October 2017
Series ISSN: 2192-4333
Series E-ISSN: 2192-4341
Edition Number: 1
Number of Pages: XVII, 423
Number of Illustrations: 99 b/w illustrations, 76 illustrations in colour
Topics: Macroeconomics/Monetary Economics//Financial Economics, Game Theory, Economics, Social and Behav. Sciences, Economic Theory/Quantitative Economics/Mathematical Methods, Public Finance