Macroeconomics is the application of economic theory to the study of the economy’s growth, cycle and price-level determination. Macroeconomics takes account of stylized facts observed in the real world and builds theoretical frameworks to explain such facts. Economic growth is a stylized fact...

This book reconstructs Keynesian macroeconomics so that it is compatible with the neoclassical dynamic microeconomic theory. This theory adopts three postulates: rational expectations, perfect price flexibility, and exclusion of the money in utility function (MIU). Based on the new theoretical...

Globalization, Specialization and Innovation Dynamics.- Savings, Investment and Growth: New Approaches for Macroeconomic Modeling -- Economic Integration, Technological Progress and Growth -- Impact of the Real Exchange Rate on Trade, Structural Change and Growth -- Macroeconomic Aspects of...

States that modern macroeconomics suffers from an unclear link between short-term Keynesian analysis and long-term growth modeling. This book maintains that analysis suggests fresh approaches to innovations in open economies in many ways, including the Schumpeterian Mundell-Fleming model and new...

Modern macroeconomics suffers from an unclear link between short-term Keynesian analysis and long-term growth modelling. 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...