Faithin Omaha eBook Collection

Download or read book Money Employment and Inflation written by Robert J. Barro and published by Cambridge University Press. This book was released on 2008-07-10 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a textbook on macroeconomic theory that attempts to rework the theory of macroeconomic relations through a re-examination of their microeconomic foundations. In the tradition of Keynes's General Theory of Employment, Interest and Money (published in 1936), and Patinkin's Money, Interest, and Prices, published in 1956 and revised in 1965, this book represents a third generation of macroeconomic theory. This book presents a comprehensive choice-theoretic analysis of the determination of the level of employment and the rate of inflation. A central feature of the book is the recasting of macroeconomic analysis in terms of a theory of exchange under non-market-clearing conditions. In addition, the analysis incorporates other aspects of the current reformulation of macroeconomic theory, including the relation between inflationary expectations, rates of return, and unemployment, the dynamics of aggregate demand, and the significance of incomplete information regarding the spatial distribution of wages and prices.