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Innovations in Macroeconomics

  • Book
  • © 2008

Overview

Authors:
  1. Paul J. J. Welfens

    1. EIIW – European Institute for International Economic Relations at the University of Wuppertal, Wuppertal, Germany
      Sciences Po, Paris

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  • Novel approaches to innovation dynamics and growth in open economies
  • New monetary and non-monetary growth models
  • Discussion of rational innovation policies in OECD countries
  • Includes supplementary material: sn.pub/extras

  • 6995 Accesses

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Table of contents (12 chapters)

  1. Front Matter

    Pages I-XVI
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  2. Globalization, Specialization and Innovation Dynamics

    Pages 1-107

  3. Savings, Investment and Growth: New Approaches for Macroeconomic Modelling

    Pages 108-126

  4. Economic Integration, Technological Progress and Growth

    Pages 127-143

  5. Impact of the Real Exchange Rate on Trade, Structural Change and Growth

    Pages 144-175

  6. Macroeconomic Aspects of Opening Up, Unemployment, Growth and Transition

    Pages 176-214

  7. Productivity Shocks, Innovations, Stock Market Dynamics and Growth

    Pages 215-247

  8. Innovation Dynamics and Optimum Growth

    Pages 248-274

  9. Trade, Structural Change and Growth in an Open Monetary Economy

    Pages 275-297

  10. Innovations in the Digital Economy: Promotion of R&D and Growth in Open Economies

    Pages 298-350

  11. EU Innovation Policy: Analysis and Critique

    Pages 351-370

  12. Financial Market Integration, Interest Rates and Economic Development

    Pages 371-409

  13. Natural Resources, Oil Prices and Innovation Dynamics

    Pages 410-439

  14. Back Matter

    Pages 440-455
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Keywords

About this book

Modern macroeconomics suffers from an unclear link between short-term Keynesian analysis and long-term growth modelling. Moreover, product and process innovations have been only partially integrated. The analysis suggests new approaches to innovations in open economies in many ways, including the Schumpeterian Mundell-Fleming model and new monetary growth models. A specific focus is on the role of innovations for output, employment and exchange rate developments. A new link between monetary analysis and growth modelling in open economies is presented. Structural change, innovations and growth are considered from a new perspective. Energy innovation dynamics are also considered. With respect to economic policy - in particular innovation policy - the analysis implies major changes, concerning both EU countries and other leading OECD economies.

Authors and Affiliations

  • EIIW – European Institute for International Economic Relations at the University of Wuppertal, Wuppertal, Germany

    Paul J. J. Welfens

  • Sciences Po, Paris

    Paul J. J. Welfens

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