Introduction -- Why Are Standard Micro-foundations Wrong? -- Statistical Physics and Macroeconomics -- Stochastic Macro-Equilibrium: A Micro-foundation of Keynesian Economics -- The Business Cycle: The Role of Aggregate Demand -- Demand Saturation and Economic Growth ―― Where Keynes and...

Chapter 1. Market Mechanism: Stabilizing or Destabilizing?- Chapter 2. Artificial Wicksell–Keynes Model 3 Agent’s Behaviors -- Chapter 4. Steady State Equilibrium -- Chapter 5. Parameter Tuning for Baseline -- Chapter 6. Simulation Results and Discussions -- Chapter 7. The Mechanism of...

This book assesses major schools of thought in macroeconomic theory between the Great Depression and the Long Recession, focusing on their analysis of cycles, crises and macro-policy. It explores the road from the dominance of Keynesian ideas to those of New Classical Macroeconomics (NCM) toward...

Chapter 1. Keynes’s Lakatosian Scientific Research Programme (SRP) as Outlined in The General Theory of Employment, Interest and Money (1936) -- Part I Keynes: The Meaning of Background: 1883-1910 -- Chapter 2. Keynes’s intellectual debts and the ‘Locke Connection’ -- chapter 3....

Introduction, Keynes’s Own IS-LM Approach -- Prologue to Keynes’s IS-LM, 1930 to 1932 -- The Advent of Keynes’s IS-LM, 1933 -- “The Missing Link”: Keynes’s Own Lecture Notes, December 4, 1933, Impact and Implications -- Reconstructing Keynes’s IS-LM Approach, 1931 to 1937 --...

This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the...

This book presents the complete and pioneering works of the great Spanish economist, Germán Bernácer (1883-1965), to an English audience for the first time. Bernácer, the first director of the Research Service of the Bank of Spain (1930-55), inspired Keynes’ theory but was also a major...

“Donald Stabile provides a fascinating history of the economic and political debates leading up to, and following, the Employment Act of 1946. Contrary to common understanding, Stabile argues that there were strong tensions between New Dealers and Keynesians, including around their vision of...

The thought-provoking book presents alternative viewpoints to mainstream macroeconomic theory, questions conventional policy wisdom and suggests a systematic re-orientation of current macroeconomic and financial regulatory policies in India. The New Consensus Macroeconomics (NCM), which...

Chapter 1: The IS-LM Model: The Reason to Go Beyond It -- Chapter 2: Interaction between the Real Sector and the Financial Sector: An Alternative to the IS-LM Model -- Chapter 3: An Alternative to the IS–LM Model: Perfect Capital Mobility -- Chapter 4: Alternative to the IS-LM: Imperfect...