About this title: This text provides a cogent analysis of macroeconomic thought as a historical process, stressing the development of modern macroeconomic theory throughout. Both static and dynamic models are clearly developed and many modern economic models are used. The text first presents a simple, classical market clearing model, imposes enough restrictions on this model to derive a static Keynesian version, and then adds expectations to simple dynamic Keynesian models to arrive at a rational expectations new-classical model. The first half of the book uses one basic graphical model to develop each theory. ...
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