Book contents
- Frontmatter
- Contents
- List of figures
- Foreword by Richard H. Day
- Preface
- Acknowledgments
- Notation
- General introduction
- 1 Traditional monetary growth dynamics
- 2 Tobinian monetary growth: the (neo)Classical point of departure
- 3 Keynes–Wicksell models of monetary growth: synthesizing Keynes into the Classics
- 4 Keynesian monetary growth: the missing prototype
- 5 Smooth factor substitution: a secondary and confused issue
- 6 Keynesian monetary growth: the working model
- 7 The road ahead
- References
- Author index
- Subject index
General introduction
Published online by Cambridge University Press: 22 September 2009
- Frontmatter
- Contents
- List of figures
- Foreword by Richard H. Day
- Preface
- Acknowledgments
- Notation
- General introduction
- 1 Traditional monetary growth dynamics
- 2 Tobinian monetary growth: the (neo)Classical point of departure
- 3 Keynes–Wicksell models of monetary growth: synthesizing Keynes into the Classics
- 4 Keynesian monetary growth: the missing prototype
- 5 Smooth factor substitution: a secondary and confused issue
- 6 Keynesian monetary growth: the working model
- 7 The road ahead
- References
- Author index
- Subject index
Summary
In this book we shall be concerned with the foundations of integrated macromodels of monetary growth dynamics in disequilibrium as they have been laid out (to some extent) in the sixties and the seventies. These foundations are reconsidered and reformulated as well as extended into a uniform and systematic body of macrodynamic models of closed economies with five markets and three agents. The stress here lies on disequilibrium models as we believe that there is an urgent need for progress in this neglected, but nevertheless very relevant, area of macrodynamics. We do not believe that the numerous equilibrium models of monetary growth that have been developed over the last two decades will realize their potential for policy analysis if they are not supplemented and confronted with disequilibrium analyses that try to portray, with more and more descriptive exactness and analytical rigor, the macroeconomy and the policy scenarios to be investigated.
On the one hand completeness of such models is necessary when one wants to provide a systematic and comparative study of them (and their pros and cons) which can then be used as a framework and as a foundation for the further systematic development of this area of macroeconomics. Such a systematic development is almost nonexistent in the literature on disequilibrium monetary growth dynamics. Partial models may of course be of great interest if, as is generally the case, more specialized questions are considered.
- Type
- Chapter
- Information
- The Dynamics of Keynesian Monetary GrowthMacro Foundations, pp. 1 - 9Publisher: Cambridge University PressPrint publication year: 2000