New Keynesian Economics: Coordination Failures and Real Rigidities by N. Gregory MankiwNew Keynesian Economics: Coordination Failures and Real Rigidities by N. Gregory Mankiw

New Keynesian Economics: Coordination Failures and Real Rigidities

EditorN. Gregory Mankiw, David Romer

Paperback | April 24, 1991

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These two volumes bring together a set of important essays that represent a "new Keynesian" perspective in economics today. This recent work shows how the Keynesian approach to economic fluctuations can be supported by rigorous microeconomic models of economic behavior. The essays are grouped in seven parts that cover costly price adjustment, staggering of wages and prices, imperfect competition, coordination failures, and the markets for labor, credit, and goods. An overall introduction, brief introductions to each of the parts, and a bibliography of additional papers in the field round out this valuable collection. Volume 1 focuses on how friction in price setting at the microeconomic level leads to nominal rigidity at the macroeconomic level, and on the macroeconomic consequences of imperfect competition, including aggregate demand externalities and multipliers. Volume 2 addresses recent research on non-Walrasian features of the labor, credit, and goods markets.

George A Akerlof, Costas Azariadis, Laurence Ball, Ben S. Bernanke, Mark Bits, Olivier J. Blanchard, Alan S. Blinder, John Bryant, Andrew S. Caplin, Dennis W. Carlton, Stephen G. Cecchetti, Russell Cooper, Peter A. Diamond, Gary Fethke, Stanley Fischer, Robert E. Hall, Oliver Hart, Andrew John, Nobuhiro Kiyotaki, Alan B. Krueger, David M. Lilien, Ian M. McDonald, N. David Mankiw, Arthur M. Okun, Andres Policano, David Romer, Julio J. Rotemberg, Garth Saloner, Carl Shapiro, Andrei Shleifer, Robert M. Solow, Daniel F. Spulber, Joseph E. Stiglitz, Lawrence H. Summers, John Taylor, Andrew Weiss, Michael Woodford, Janet L. Yellen

N. Gregory Mankiw is Professor of Economics at Harvard University.David Romer is Herman Royer Professor of Political Economy at the University of California, Berkeley, and author of Advanced Macroeconomics.
Title:New Keynesian Economics: Coordination Failures and Real RigiditiesFormat:PaperbackDimensions:464 pages, 9 × 6 × 1 inPublished:April 24, 1991Publisher:The MIT Press

The following ISBNs are associated with this title:

ISBN - 10:0262631342

ISBN - 13:9780262631341

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Editorial Reviews

This collection is exactly what the profession needs -- an expertly chosen set of fundamental articles laying out the modern approach to macroeconomics.