Innovations in Macroeconomics (PDF)
Modern macroeconomics suffers from an unclear link between short-term Keynesian analysis and long-term growth modelling. Moreover, product and process innovations have been only partially integrated. The analysis suggests new approaches to innovations in...
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Modern macroeconomics suffers from an unclear link between short-term Keynesian analysis and long-term growth modelling. Moreover, product and process innovations have been only partially integrated. The analysis suggests new approaches to innovations in open economies in many ways, including the Schumpeterian Mundell-Fleming model and new monetary growth models. A specific focus is on the role of innovations for output, employment and exchange rate developments. A new link between monetary analysis and growth modelling in open economies is presented. Structural change, innovations and growth are considered from a new perspective. Energy innovation dynamics are also considered. With respect to economic policy - in particular innovation policy - the analysis implies major changes, concerning both EU countries and other leading OECD economies.
This important new book sets a new direction for macroeconomics. By linking several strands of fundamental economic thinking into a coherent, integrated framework it provides a pathbreaking understanding into the fundamental forces shaping macroeconomic performance. In particular, by injecting insights from the Schumpeterian model, the author succeeds in presenting a new policy framework to guide economic growth policy.
Prof. Dr. David Audretsch, Institute of Development Strategies, Indiana University, Bloomington, USA
- Autor: Paul J. J. Welfens
- 2008, 2nd ed. 2008, 455 Seiten, Englisch
- Verlag: Springer-Verlag GmbH
- ISBN-10: 3540794123
- ISBN-13: 9783540794127
- Erscheinungsdatum: 20.06.2008
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- Größe: 3.57 MB
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