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The New Macroeconomics : Imperfect Markets and Policy Effectiveness - Huw David Dixon

The New Macroeconomics

Imperfect Markets and Policy Effectiveness

Paperback Published: 18th December 1995
ISBN: 9780521479479
Number Of Pages: 404

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This book focuses on the rapidly growing research field of imperfect competition, asymmetric information and other market imperfections in a macroeconomic context. It brings together leading researchers from the USA and Europe to examine the implications for macroeconomic policy of imperfections in output, labour and financial markets. The contributions include state-of-the-art research at the frontier of the discipline, as well as several general surveys and expository chapters which synthesize the large literature. This is the first volume of previously unpublished research papers to focus exclusively on this literature. It should be a valuable resource for graduate students and researchers in macroeconomics.

Overviews and Perspectives
Classical and Keynesian features in macroeconomic models with imperfect competition
Imperfect competition and macroeconomics: a survey
Notes on imperfect competition and new Keynesian economics
Goods Market Imperfections
Optimal labour contracts and imperfect competition: a framework for analysis
Market power, coordination failures and endogenous fluctuations Claude d'Aspremont
Macroeconomic externalities
Labour Market Imperfections
Demand uncertainty and unemployment in a monopoly union model
Efficiency wages as a persistence mechanism Gilles
Efficiency, enforceability and acyclical wages
Business fluctuations, worker moral hazard and optimal environment policy
Financial Market Imperfections
The stock market and equilibrium recessions
Asymmetric information, investment finance and real business cycles
Nominal Rigidities and Bounded Rationality
Hedging, multiple equilibria and nominal contracts
Information acquisition and nominal price adjustment
Expectation calculation, hyperinflation and currency collapse
Menu costs and aggregate price dynamics
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521479479
ISBN-10: 0521479479
Audience: Professional
Format: Paperback
Language: English
Number Of Pages: 404
Published: 18th December 1995
Country of Publication: GB
Dimensions (cm): 22.76 x 15.39  x 2.26
Weight (kg): 0.57

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