The New Keynesian Economics has been the most significant development in economics in recent years. Does it actually build upon Keynes' work? In this volume, leading post Keynesian economists challenge New Keynesianism both on the grounds that it is not Keynesian, and does not provide an adequate account of our current economic problems.
The New Keynesian Economics has been the most significant development in economics in recent years. Does it actually build upon Keynes' work? In this volume, leading post Keynesian economists challenge New Keynesianism both on the grounds that it is not Keynesian, and does not provide an adequate account of our current economic problems.
Introduction PART I Prices, outputs and markets 1 Setting the record straight 2 Keynes and the New Keynesians on market competition 3 New Keynesian macroeconomics and markets 4 Price theory and macroeconomics: stylized facts and New Keynesian fantasies PART II The labour market 5 Wages and employment: a Keynesian model 6 New Keynesian macroeconomics and the determination of employment and wages 7 Some questions for New Keynesians 8 Social norms as rational choices 9 New Keynesians, Post Keynesians and history 10 Elements of conflict in UK wage determination PART III Money, credit rationing and asymmetric information 11 Menu costs and the nature of money 12 Knowledge, information and credit creation 13 Post and New Keynesians: the role of asymmetric information and uncertainty in the construction of financial institutions and policy 14 Disembodied risk or the social construction of creditworthiness? 15 A Kaleckian view of New Keynesian macroeconomics PART IV Post Walrasian macroeconomics 16 Beyond New Keynesian economics: towards a post Walrasion macroeconomics 17 Complex dynamics in New Keynesian and Post Keynesian models 18 Post Keynesian and strong Keynesian macroeconomics: compatible bedfellows? PART V Public policy 19 On a recent change in the notion of incomes policy 20 Money and interest rates in a monetary theory of production 21 Macroeconomic policy for the long haul
Introduction PART I Prices, outputs and markets 1 Setting the record straight 2 Keynes and the New Keynesians on market competition 3 New Keynesian macroeconomics and markets 4 Price theory and macroeconomics: stylized facts and New Keynesian fantasies PART II The labour market 5 Wages and employment: a Keynesian model 6 New Keynesian macroeconomics and the determination of employment and wages 7 Some questions for New Keynesians 8 Social norms as rational choices 9 New Keynesians, Post Keynesians and history 10 Elements of conflict in UK wage determination PART III Money, credit rationing and asymmetric information 11 Menu costs and the nature of money 12 Knowledge, information and credit creation 13 Post and New Keynesians: the role of asymmetric information and uncertainty in the construction of financial institutions and policy 14 Disembodied risk or the social construction of creditworthiness? 15 A Kaleckian view of New Keynesian macroeconomics PART IV Post Walrasian macroeconomics 16 Beyond New Keynesian economics: towards a post Walrasion macroeconomics 17 Complex dynamics in New Keynesian and Post Keynesian models 18 Post Keynesian and strong Keynesian macroeconomics: compatible bedfellows? PART V Public policy 19 On a recent change in the notion of incomes policy 20 Money and interest rates in a monetary theory of production 21 Macroeconomic policy for the long haul
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