"Cover" -- "Half Title" -- "Title Page" -- "Copyright Page" -- "Dedication" -- "Contents" -- "CHAPTER ONE: INTRODUCTION" -- "1.1. The economics of non-renewable natural resources" -- "1.2. Disequilibrium adjustment with non-market-clearing trading" -- "1.3. The basic assumptions" -- "1.4....

An accessible summary of the latest debates in economics, Economics in the Twenty-First Century takes on what is missing from mainstream economics, why it matters, and how the discipline can better address the key concerns of our era.

The impact of fiscal stimulus depends not only on short-term tax and spending policies, but also on expectations about offsetting measures in the future. This paper analyzes the effects of an increase in government spending under a plausible debt-stabilizing policy that links current stimulus to...

This paper characterises the jointly optimal monetary and fiscal stabilisation policy in a new Keynesian model that allows for consumers who lacking access to asset markets consume their disposable income each period. With full asset market participation, the optimal policy relies entirely on...

Drawing on the work of the Austrian School and its heirs, <EM>Capital in Disequilibrium</EM> develops a modern, systematic version of capital theory in order to suggest a new approach to the subject of economics. Original and provocative in his reflection, Lewin offers both a new approach and an...</em>

We analyse optimal discretionary games between a benevolent central bank and a myopic government in a New Keynesian model. First, when lump-sum taxes are available and public debt is absent, we show that a Nash game results in too much government spending and excessively high interest rates,...

Analyzing macroeconomic impacts of oil price changes requires first to investigate different sources of these changes and their distinct effects. Kilian (2009) analyzes the effects of an oil supply shock, an aggregate demand shock, and a precautionary oil demand shock. The paper's aim is to...

Using the theory of optimal local currency pricing, this paper constructs a structural equation to estimate the rate at which foreign producer prices pass through the local currency prices of imported goods in the U.S. This can be viewed as measuring exchange rate pass-through, in line with...

"This book focuses on the interrelationship between nature and the human economy. Building upon his decades of research into classical and Keynesian economics, Tony Aspromourgos here turns his attention to the interrelationship between nature and the human economy. The result is a tightly...