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The book explores the two basic approaches of models of infinitely-lived agents (Cass-Ramsey-Koopmans approach) and models of overlapping-generations (Allais-Fisher-Samuelson approach). The book also introduces both real models and monetary models of endogenous growth.
The book explores the two basic approaches of models of infinitely-lived agents (Cass-Ramsey-Koopmans approach) and models of overlapping-generations (Allais-Fisher-Samuelson approach). The book also introduces both real models and monetary models of endogenous growth.
Providing an introduction to major topics in macroeconomic theory, this book offers the reader three keys for comparing different models. The first key is a mathematical reformulation of Say's Law. The second and third keys deal with the circulation of money and the labour market respectively.
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