The New Macroeconomics: Imperfect Markets and Policy Effectiveness

Huw David Dixon; Neil Rankin

doi:10.1017/CBO9780511559648

The New Macroeconomics

Imperfect Markets and Policy Effectiveness

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Huw David Dixon, University of York, Neil Rankin, University of Warwick

Publisher:: Cambridge University Press
Online publication date:: October 2009
Print publication year:: 1995
Online ISBN:: 9780511559648
DOI:: https://doi.org/10.1017/CBO9780511559648

Subjects:: Economics, Economic Theory

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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 market imperfections in output, labour and financial markets. All the contributions are original, and include several general surveys and expository chapters which synthesize the large literature, along with some state-of-the-art research at the frontier of the discipline. This is the first volume to focus exclusively on this literature. It should be a valuable resource for graduate students and researchers in macroeconomics.

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The New Macroeconomics

Imperfect Markets and Policy Effectiveness

This Book has been cited by the following publications. This list is generated based on data provided by Crossref.

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Frontmatter
pp i-vi

Contents
pp vii-viii

List of contributors
pp ix-x

Preface
pp xi-xii

Acknowledgements
pp xiii-xiv

Introduction
pp 1-12

Part I - Overviews and perspectives
pp 13-14

1 - Classical and Keynesian features in macroeconomic models with imperfect competition
pp 15-33

2 - Imperfect competition and macroeconomics: a survey
pp 34-62

3 - Notes on imperfect competition and New Keynesian economics
pp 63-78

Part II - Goods market imperfections
pp 79-80

4 - Optimal labour contracts and imperfect competition: a framework for analysis
pp 81-93

5 - Market power, coordination failures and endogenous fluctuations
pp 94-138

6 - Macroeconomic externalities
pp 139-170

Part III - Labour market imperfections
pp 171-172

7 - Demand uncertainty and unemployment in a monopoly union model
pp 173-185

8 - Efficiency wages as a persistence mechanism
pp 186-205

9 - Efficiency, enforceability and acyclical wages
pp 206-213

10 - Business fluctuations, worker moral hazard and optimal environmental policy
pp 214-234

Part IV - Financial market imperfections
pp 235-236

11 - The stock market and equilibrium recessions
pp 237-244

12 - Asymmetric information, investment finance and real business cycles
pp 245-272

Part V - Nominal rigidities and bounded rationality
pp 273-274

13 - Hedging, multiple equilibria and nominal contracts
pp 275-292

14 - Information acquisition and nominal price adjustment
pp 293-306

15 - Expectation calculation, hyperinflation and currency collapse
pp 307-336

16 - Menu costs and aggregate price dynamics
pp 337-359

Bibliography
pp 360-378

Index of authors
pp 379-382

Index of subjects
pp 383-388

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The New Macroeconomics

Imperfect Markets and Policy Effectiveness

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