Bøker av Carl (University of Technology Chiarella

An advanced model of economic activity, inflation and income distribution in a Keynesian spirit is developed in this book. The model is used to produce macroeconomic simulation studies and a detailed study of the macroeconomic impact of various monetary policy rules. It will appeal both to theorists and economic policy-makers.

Originally published in 2000, this book is in the tradition of non-market-clearing approaches to macrodynamic approaches. It builds a series of integrated disequilibrium growth models of increasing complexity, which display the economic interaction between households, firms and government across labour, goods, money, bonds and equities markets. Chiarella and Flaschel demonstrate how macrodynamics can be developed in a hierarchical way from economically simple structures to more advanced ones. In addition it investigates complex macrodynamic feedback mechanisms.

Attempts to revive what Keynes stressed in his "General Theory", namely the role of the financial market in macroeconomic outcomes. This book focuses on reviving a modelling tradition that provides a theoretical framework that throws light on financial market episodes and disturbances and their macroeconomic effects.