Reconstructing Keynesian Macroeconomics
BOOK ANNOUNCEMENT
SCEPA Economist Willi Semmler published a new book, Reconstructing Keynesian Macroeconomics Volume 3, coauthored with Carl Chiarella from Australia's University of Technology and Peter Flaschel from Germany's Bielefeld University.
The final of a three volume series which reinterprets and restructures Keynesian macroeconomic thinking, the book focuses on the interaction between the real economy (where goods and services are exchanged) and the financial markets (where money is borrowed and lent). The authors provide a detailed investigation of the financial, goods, and labor markets and show how variations in one can be stabilized or amplified by changes in another. Using novel empirical methods to test their conclusions, the authors propose a framework for policymakers' use in the modern economy.