Asset Markets, Portfolio Choice and Macroeconomic Activity: A Keynesian Perspective

Hardcover | July 15, 2011

byToichiro Asada, Peter Flaschel, Tarik Mouakil

not yet rated|write a review

This book investigates, from a Keynesian perspective, the interaction of effective demand with the wage-price spiral, the dependence of goods market outcomes on financial markets, and the impact of monetary policy on financial and real markets. These issues are discussed by way of rigorously formulated approaches that lay foundations for a theory of endogenously generated business fluctuations.

The material is presented on three levels of generality: an introductory level that motivates the theoretical approach, a research-oriented level that shows how the interaction of real with financial markets has to be modeled from an integrative Keynesian perspective, and an advanced textbook level that extends the traditional Keynesian approach to open economies. The main findings indicate that balanced growth in capitalist economies is unlikely due to changes in behavioral factors that drive the wage-price spiral and the financial markets.

This book is essential reading for advanced level macroeconomic modules and for those interested in both traditional macroeconomics and the dominant neoclassical approach of the New Keynesians. 

Pricing and Purchase Info

$156.00

In stock online
Ships free on orders over $25

From the Publisher

This book investigates, from a Keynesian perspective, the interaction of effective demand with the wage-price spiral, the dependence of goods market outcomes on financial markets, and the impact of monetary policy on financial and real markets. These issues are discussed by way of rigorously formulated approaches that lay foundations f...

TOICHIRO ASADA is Professor of Economics at Chuo University, Tokyo, Japan. His research interests include Macroeconomic Dynamic Theory and business cycles. He has published several books and many articles on Macroeconomic Dynamic Theory both in English and in Japanese. He has stayed at  the New School for Social Research in New York, ...

other books by Toichiro Asada

Essays in Economic Dynamics: Theory, Simulation Analysis, and Methodological Study
Essays in Economic Dynamics: Theory, Simulation Analysi...

Kobo ebook|Sep 22 2016

$112.69 online$146.27list price(save 22%)
Monetary Macrodynamics
Monetary Macrodynamics

Kobo ebook|Nov 12 2012

$72.11

Format:HardcoverDimensions:152 pages, 8.87 × 5.8 × 0.88 inPublished:July 15, 2011Publisher:Palgrave MacmillanLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0230290175

ISBN - 13:9780230290174

Customer Reviews of Asset Markets, Portfolio Choice and Macroeconomic Activity: A Keynesian Perspective

Reviews

Extra Content

Table of Contents

General Introduction
Advances in AS-AD Model Building: Real Disequilibria and Portfolio Choices
Tobinian Stock-Flow Interactions in the KMG Framework
Analysis and Policy Implications of the KMG-Tobin Model
Introducing Tobinian Stock-Flow Interactions into the Mundell-Fleming Model
Two Extensions of the Mundell-Fleming-Tobin Model
Fiscal and Monetary Policy, Stocks, and the Term Structure of Interest Rates