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The Dynamics of Keynesian Monetary Growth
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  • Page extent: 434 pages
  • Size: 228 x 152 mm
  • Weight: 0.75 kg

Library of Congress

  • Dewey number: 339.5/3
  • Dewey version: 21
  • LC Classification: HG230.3 .C45 2000
  • LC Subject headings:
    • Monetary policy
    • Keynesian economics
    • Macroeconomics

Library of Congress Record

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 (ISBN-13: 9780521643511 | ISBN-10: 0521643511)

DOI: 10.2277/0521643511

Manufactured on demand: supplied direct from the printer

 (Stock level updated: 02:09 GMT, 28 November 2015)


Originally published in 2000, this book is in the tradition of non-market-clearing approaches to macrodynamic approaches. It builds a series of integrated disequilibrium growth models of increasing complexity, which display the economic interaction between households, firms and government across labour, goods, money, bonds and equities markets. Chiarella and Flaschel demonstrate how macrodynamics can be developed in a hierarchical way from economically simple structures to more advanced ones. In addition it investigates complex macrodynamic feedback mechanisms.

• Provides a systematic macrofoundation of disequilibrium growth theory • Gives models of fluctuating growth with both labour and capital over or underutilized • Builds high-dimensional macrodynamics from lower-dimensional prototype structures


Preface; General introduction; 1. Traditional monetary growth dynamics; 2. Tobinian monetary growth: the (neo) classical point of departure; 3. Keynes-Wicksell models of monetary growth: synthesizing Keynes into the classics; 4. Keynesian monetary growth: the missing prototype; 5. Smooth factor substitution: a secondary and confused issue.


Review of the hardback: 'Chiarella, Flaschel, and Franke have honed traditional stability analysis of aggregative macroeconomic models into an astonishingly penetrating critical tool. Their dispassionate and balanced study of current macroeconomic approaches throws much light on the conceptual contradictions that trouble this field, and motivate their suggested remedy, a return to a thorough disequilibrium dynamics in the tradition of Keynes, Metzler, and Goodwin. No serious student of mathematical macroeconomics working within any framework can afford to ignore this research and its implications.' Duncan K. Foley, Foley New School University

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