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  Money Employment and Inflation (Paperback) By (author) Robert J. Barro, By (author) Herschel I. Grossman

  

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  Short Description for Money Employment and InflationThis is a textbook on macroeconomic theory that attempts to rework the theory of macroeconomic relations through a re-examination of their microeconomic foundations.
  Full description

  • Publisher: CAMBRIDGE UNIVERSITY PRESS
  • Published: 10 July 2008
  • Format: Paperback 280 pages
  • See: Full bibliographic data
  • Categories: Economics | Macroeconomics | Finance
  • ISBN 13: 9780521068659 ISBN 10: 0521068657
  • Sales rank: 1,110,410

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Full description for Money Employment and Inflation

• 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.