Bücher von Peter Flaschel

In the first part of this book, we treat interacting and small open economies. We start from the closed economy, consider large open economies in a fixed exchange rate system, small open economies subject to high capital mobility, and finally two large interacting economies like the USA and Euroland.

This book extends the KMG framework (Keynes, Meltzer, Goodwin) and focuses on financial issues. It integrates Tobin's macroeconomic portfolio approach and emphasizes the issue of stock-flow consistency.

This book demonstrates that classical micro- and macroeconomics can be synthesized into a coherent whole from the perspective of formal model building as well as applied Leontief-Stone systems of national accounts and the input-output approaches built on them.

Our working model is set up in a way that there is a close relationship between our presented dynamic models and modern macro econometric models with disequilibrium both in the labor and the goods markets.

This book provides an introduction to basic as well as advanced macrodynamics, viewed as a disequilibrium theory of fluctuating growth. It offers a rigorous alternative to mainstream macrodynamics with applications to the UK and the US.

The authors give an advanced treatment of macroeconomic topics such as the Phillips curve, forward and backward looking behavior, open economy macrodynamics, structural macroeconometric model building as well as the empirics of Keynesian oriented macro models.

Originally published in 2000, this book is in the tradition of non-market-clearing approaches to macrodynamic approaches. It builds a series of integrated disequilibrium growth models of increasing complexity, which display the economic interaction between households, firms and government across labour, goods, money, bonds and equities markets. Chiarella and Flaschel demonstrate how macrodynamics can be developed in a hierarchical way from economically simple structures to more advanced ones. In addition it investigates complex macrodynamic feedback mechanisms.