Expectations, Employment and Prices

Hardcover | March 24, 2010

byRoger Farmer

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Expectations, Employment and Prices brings Keynesian economics into the 21st century by providing a new paradigm that explains how high unemployment could potentially persist forever without a little help from the government. The book fills in logical gaps that were missing from Keynes'General Theory of Employment Interest and Money by reconciling some of its key ideas with modern economic theory. Central bankers throughout the world are talking now about developing a second instrument of monetary policy in addition to controlling the interest rate. This book directly addressesthis issue and offers new creative monetary policy proposals and suggestions for the design of new financial institutions for the 21st century.

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Expectations, Employment and Prices brings Keynesian economics into the 21st century by providing a new paradigm that explains how high unemployment could potentially persist forever without a little help from the government. The book fills in logical gaps that were missing from Keynes'General Theory of Employment Interest and Money by...

Roger E. A. Farmer is Professor and Department Chair at UCLA Department of Economics. He is a Research Associate of the National Bureau of Economic Research and the Centre for Economic Policy Research, and coeditor of the International Journal of Economic Theory. He is a member of the Financial Times Economists Forum, a specialist on...

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Format:HardcoverDimensions:192 pages, 9.3 × 6.2 × 0.8 inPublished:March 24, 2010Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0195397908

ISBN - 13:9780195397901

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Table of Contents

Preface1. The Theory of Unemployment2. TheBasicModel3. An Extension to Multiple Goods4. Investment and Saving5. Business Cycle Facts6. The Great Depression7. The War-Time Recovery8. 1951 to 2000: Employment and Gdp9. Money and Uncertainty10. Money and Inflation Since 195111. How to Fix the Economy