THE NEW KEYNESIAN MACROECONOMICS
Time, Belief and Social Inter Dependence
Designed as a text for advanced undergraduate macroeconomic theory courses, this innovative textbook draws together the central ideas in what is referred to as the New Keynesian Macroeconomics and sets them in dialogue with the New Classical Macroeconomics.
The New Keynesian Macroeconomics includes discussion of the recent literature on multiple rational expectations equilibria, an assessment of the connection between equilibrium choice and institutional context, and game theoretic discussion of social interdependence particularly with respect to wage and price formation analysis of debates over both demand and supply side activism.
As the first textbook to develop the New Keynesian Macroeconomics, the book will be widely used on second and third year undergraduate courses on macroeconomics. It will also serve as a text for advanced undergraduate courses which integrate micro and macro by general equilibrium theory.
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What Reviewers Are Saying
`The author writes with clarity. . . . Overall this is an excellent introduction to the subject and should be very useful as a basic reference on final-year undergraduate courses in macroeconomic theory.' -- Bill Gerrard, The Economic Journal `[this textbook] successfully conveys the major messages as well as a sense of the enthusiasm of the New Keynesians.' -- Oliver Landmann, Kyklos