Book Details

978-3-540-68216-5

Innovations in Macroeconomics

Publication year: 2007

ISBN: 978-3-540-68216-5

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Modern macroeconomics suffers from an unclear link between short-term Keynesian analysis and long-term growth modelling. Moreover, product and process innovations have been only partially integrated. The analysis suggests new approaches to innovations in open economies in many ways, including the Schumpeterian Mundell-Fleming model and new monetary growth models. A specific focus is on the role of innovations for output, employment and exchange rate developments. This book presents a new link between monetary analysis and growth modelling in open economies. Structural change, innovations and growth are considered from a new perspective. With respect to economic policy - in particular innovation policy - the analysis implies major changes, concerning both EU countries and other leading OECD economies.


Subject: Business and Economics, Economic Policy, Growth, International Economics, Keynes, Macroeconomics, economic growth, economic integration, innovation, innovation policy, interest rates, structural change, transition