Having the high unemployment in Germany in mind, this book discusses how macroeconomic theory has evolved over the past forty years. It shows that in recent years a convergence has taken place, with modern models embodying a Keynesian transmission mechanism, monetarist policy implication, and...

"This book provides cutting-edge material elaborating on monetary circuit theory and post-Keynesian monetary economics. It contributes to a new approach to monetary analysis, which provides original insights into the complex fields of money, banking, and finance"--Provided by publisher