Money Employment and Inflation - Hardcover

Barro, Robert J.; Grossman, Herschel I.

Hardcover

ISBN 10: 0521209064 ISBN 13: 9780521209069

Publisher: Cambridge University Press, 1976

Synopsis

This is a textbook on macroeconomic theory that attempts to rework the theory of macroeconomic relations through a re-examination of their microeconomic foundations. In the tradition of Keynes's General Theory of Employment, Interest and Money (published in 1936), and Patinkin's Money, Interest, and Prices, published in 1956 and revised in 1965, this book represents a third generation of macroeconomic theory. This book presents a comprehensive choice-theoretic analysis of the determination of the level of employment and the rate of inflation. A central feature of the book is the recasting of macroeconomic analysis in terms of a theory of exchange under non-market-clearing conditions. In addition, the analysis incorporates other aspects of the current reformulation of macroeconomic theory, including the relation between inflationary expectations, rates of return, and unemployment, the dynamics of aggregate demand, and the significance of incomplete information regarding the spatial distribution of wages and prices.

About this title

Book Description:

This is a textbook on macroeconomic theory that attempts to rework the theory of macroeconomic relations through a re-examination of their microeconomic foundations. In the tradition of Keynes's General Theory of Employment, Interest and Money (published in 1936), and Patinkin's Money, Interest, and Prices, published in 1956 and revised in 1965, this book represents a third generation of macroeconomic theory.

About the Author:

Robert J. Barro is Robert C. Waggoner Professor of Economics at Harvard University and a senior fellow of the Hoover Institution at Stanford University.

About this edition

• Publisher: Cambridge University Press
• Publication date: 1976
• ISBN 10: 0521209064
• ISBN 13: 9780521209069
• Binding: Hardcover
• Number of pages: 276