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Table of contents (17 chapters)
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Macroeconomic Theory and Macroeconomic Pedagogy: An Introduction
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The 3-Equation New Consensus Macroeconomic Model
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An Endogenous-Money Theory Amendment of the New Consensus Macroeconomic Model
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Financial Fragility, Liquidity Preference, Unemployment Hysteresis and Other Amendments
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The Real Interest Rate, Income Distribution, and Alternative Views of Stabilization Policies
Keywords
About this book
Reviews
'The 2007/8 financial crisis starkly revealed the limitations of the three equation ''New Consensus'' macroeconomic model. This model abstracts by assumption from default and credit risk, and hence has no room for issues relating to financial intermediation and liquidity, a ''fair weather'' model. In this book the authors outline this and other drawbacks of the current mainstream model, and make a good start in amending this in ways which both come closer to reality and can be the basis for undergraduate teaching.' - Charles A.E. Goodhart, Emeritus Professor of Economics, and Member Financial Markets Group, London School of Economics (LSE, UK); former Bank of England's External Member, Monetary Policy Committee,UK
'All who teach graduate macroeconomics will benefit from Fontana and Setterfield's efforts to broaden the scope of formal pedagogy and to incorporate Keynesian and Post Keynesian insights into a disciplined teaching framework.' - James K. Galbraith,
Professor at the Lyndon B. Johnson School of Public Affairs and at the Department of Government, University of Texas, at Austin; former Executive Director of the Joint Economic Committee, Congress of the United States, and guest scholar at the Brookings Institution, Washington, DC, USA
'Macroeconomic theory has developed rapidly in the last two decades, but undergraduate teaching and textbooks have not kept up. This timely book surveys approaches to improving pedagogy, focusing on a 3-equation model that is similar in spirit to cutting-edge macro theories but accessible to undergraduates. In addition to its theoretical appeal, the model is better than traditional textbook models for analyzing real-world economic fluctuations.' - Larry Ball, Professor of Economics, Johns Hopkins University, Baltimore, USA
Editors and Affiliations
About the editors
Bibliographic Information
Book Title: Macroeconomic Theory and Macroeconomic Pedagogy
Editors: Giuseppe Fontana, Mark Setterfield
DOI: https://doi.org/10.1007/978-0-230-29166-9
Publisher: Palgrave Macmillan London
eBook Packages: Palgrave Economics & Finance Collection, Economics and Finance (R0)
Copyright Information: Palgrave Macmillan, a division of Macmillan Publishers Limited 2009
Hardcover ISBN: 978-0-230-20203-0Published: 30 June 2009
Softcover ISBN: 978-0-230-27763-2Published: 30 June 2009
eBook ISBN: 978-0-230-29166-9Published: 30 April 2016
Edition Number: 1
Number of Pages: XX, 341
Topics: Macroeconomics/Monetary Economics//Financial Economics, Business and Management, general, Economic Theory/Quantitative Economics/Mathematical Methods