Economists disagree on what ails the economies of continental western Europe, which are widely perceived to be underperforming in terms of productivity and other metrics. Is it some deficiency in their economic system--in economic institutions or cultural attitudes? Is it some effect of their...

This book offers an excellent survey of various macroeconomic topics which feature prominently in the research agenda and have inspired both theoretical and policy debate. The book presents an authoritative and comprehensive summary and original critique of modern macroeconomic approaches by a...

[eng] Contemporary Keynesian theory sees the unemployment rate as driven by shocks to aggregate demand and ply, and attracted back to some equilibrium, or natural, rate. The latter is exogenous : either autonomous or, if path-dependent, predetermined. Fiscal stimuli to demand are expansionary...

[fre] Les économistes ne se sont penchés sur le rôle et la formation des anticipations qu'assez récemment. Keynes en a proposé une vision moderne, en insistant sur la non-objectivité des croyances et sur les interactions entre les anticipations des divers agents économiques. La doctrine...

[fre] La reconstruction des pays de l'Est exigera des investissements très probablement considérables. Cette note tente de répondre à la question de l'adéquation de l'épargne mondiale à ces besoins nouveaux. Une hausse des taux d'intérêts réels est à craindre pendant le processus «...

[eng] Why the American recovery of the years 1983 and 1984 did not produce recovery in Europe ? Why unemployment on this side of the Ocean has continued rising to reach in 1985 levels that have not been seen since the Great Depression ? Why finally the prospect of recovery which follows the fall...

We show how changes in the educational composition of the labour force affect both the level and the behaviour over time of aggregate unemployment series. We also demonstrate that if it had not been for such changes, the U.S. unemployment series would look European since the within-group...

This book honors the work of Axel Leijonhufvud. The topics range from Keynesian economics and the economics of high inflation to the micro-foundations of macroeconomics and economic history. The authors comprise some of the very best economists active today.

Top economists provide much-needed guidance--and some surprising conclusions--in response to rising public concerns about inequality in the U.S. tax system.