Models of Business Cycle
Book Details
Format
Paperback / Softback
ISBN-10
0631147918
ISBN-13
9780631147916
Publisher
John Wiley and Sons Ltd
Imprint
Wiley-Blackwell
Country of Manufacture
GB
Country of Publication
GB
Publication Date
Jan 22nd, 1987
Print length
128 Pages
Weight
184 grams
Dimensions
13.90 x 21.60 x 1.20 cms
Product Classification:
Macroeconomics
Ksh 7,000.00
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In the past decade macroeconomic theory has undergone a remarkable transformation. At the forefront has been the "rational expectations revolution," and this schoola s most brilliant exponent is Robert E. Lucas.
In the past decade macroeconomic theory has undergone a remarkable transformation. At the forefront has been the "rational expectations revolution," and this school's most brilliant exponent is Robert E. Lucas. In this elegant and relatively non-technical survey, Lucas reviews the nature and consequences of recent developments in monetary and business cycle theory. He discusses the usefulness of alternative models in determining the effects of economic policy on consumption streams and individual welfare. Drawing on a specific model of aggregate activity which represents the current frontier in business cycle research, he then examines the contemporary theory of unemployment. Finally and most controversially, he explores the role of monetary disturbances.
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