The New Keynesian Economics: Coordination Failures and Real Rigidities (M I T PRESS READINGS IN ECONOMICS) - Hardcover
These two volumes bring together a set of important essays that represent a "new Keynesian" perspective in economics today. This recent work shows how the Keynesian approach to economic fluctuations can be supported by rigorous microeconomic models of economic behavior. The essays are grouped in seven parts that cover costly price adjustment, staggering of wages and prices, imperfect competition, coordination failures, and the markets for labor, credit, and goods. An overall introduction, brief introductions to each of the parts, and a bibliography of additional papers in the field round out this valuable collection. Volume 1 focuses on how friction in price setting at the microeconomic level leads to nominal rigidity at the macroeconomic level, and on the macroeconomic consequences of imperfect competition, including aggregate demand externalities and multipliers. Volume 2 addresses recent research on non-Walrasian features of the labor, credit, and goods markets.ContributorsGeorge A Akerlof, Costas Azariadis, Laurence Ball, Ben S. Bernanke, Mark Bits, Olivier J. Blanchard, Alan S. Blinder, John Bryant, Andrew S. Caplin, Dennis W. Carlton, Stephen G. Cecchetti, Russell Cooper, Peter A. Diamond, Gary Fethke, Stanley Fischer, Robert E. Hall, Oliver Hart, Andrew John, Nobuhiro Kiyotaki, Alan B. Krueger, David M. Lilien, Ian M. McDonald, N. David Mankiw, Arthur M. Okun, Andres Policano, David Romer, Julio J. Rotemberg, Garth Saloner, Carl Shapiro, Andrei Shleifer, Robert M. Solow, Daniel F. Spulber, Joseph E. Stiglitz, Lawrence H. Summers, John Taylor, Andrew Weiss, Michael Woodford, Janet L. Yellen
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About the Author:
N. Gregory Mankiw is Professor of Economics at Harvard University.
Review:
These papers make a strong collective impression. I don't see how anyone could absorb them and just go back to frictionless competitive modelling.―Robert M. Solow, Institute Professor, MIT (Endorsement)
This collection is exactly what the profession needs―an expertly chosen set of fundamental articles laying out the modern approach to macroeconomics.―Stanley Fischer, Professor of Economics, MIT (Endorsement)
This collection is exactly what the profession needs―an expertly chosen set of fundamental articles laying out the modern approach to macroeconomics.―Stanley Fischer, Professor of Economics, MIT (Endorsement)
"About this title" may belong to another edition of this title.
- PublisherMit Pr
- ISBN 10 0262132672
- ISBN 13 9780262132671
- BindingHardcover
- Number of pages464
- EditorRomer David
- Rating
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New Keynesian Economics, Vol. 2: Coordination Failures & Real Rigidities (Volume 2)
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The MIT Press
(1991)
ISBN 10: 0262132672
ISBN 13: 9780262132671
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Hardcover
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Book Description Condition: Good. Volume 2. This is an ex-library book and may have the usual library/used-book markings inside.This book has hardback covers. In good all round condition. No dust jacket. Please note the Image in this listing is a stock photo and may not match the covers of the actual item,900grams, ISBN:0262132672. Seller Inventory # 9626659
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