Book Details

Innovations in Macroeconomics

Publication year: 2008

ISBN: 978-3-540-79412-7

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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. A new link between monetary analysis and growth modelling in open economies is presented. Structural change, innovations and growth are considered from a new perspective. This important new book sets a new direction for macroeconomics. By linking several strands of fundamental economic thinking into a coherent, integrated framework it provides a pathbreaking understanding into the fundamental forces shaping macroeconomic performance.


Subject: Business and Economics, Economic Policy, Growth, International Economics, Keynes, Macroeconomics, economic growth, economic integration, innovation, innovation policy, interest rates, research & development (R&D), structural change, transition