Home » Foundations for a Disequilibrium Theory of the Business Cycle: Qualitative Analysis and Quantitative Assessment by Carl Chiarella
Foundations for a Disequilibrium Theory of the Business Cycle: Qualitative Analysis and Quantitative Assessment Carl Chiarella

Foundations for a Disequilibrium Theory of the Business Cycle: Qualitative Analysis and Quantitative Assessment

Carl Chiarella

Published November 28th 2005
ISBN : 9780521850254
Hardcover
Enter the sum

 About the Book 

In a non-market-clearing approach to business cycle theory, this book builds an advanced model of economic activity, inflation and income distribution in a Keynesian spirit. After a qualitative analysis of the basic feedback mechanisms, the authorsMoreIn a non-market-clearing approach to business cycle theory, this book builds an advanced model of economic activity, inflation and income distribution in a Keynesian spirit. After a qualitative analysis of the basic feedback mechanisms, the authors calibrate the model to the stylized facts of the business cycle in the U.S. economy. This calibrated model is used to carry out various macroeconomic simulation studies as well as a detailed study of the macroeconomic impact of various monetary policy rules. It will appeal both to theorists and to applied and policy economists.