2001 | Book
Advances in Macroeconomic Theory
International Economic Association
Editor: Jacques Drèze
Publisher: Palgrave Macmillan UK
Book Series : International Economic Association Series
Included in: Professional Book Archive
2001 | Book
Editor: Jacques Drèze
Publisher: Palgrave Macmillan UK
Book Series : International Economic Association Series
Included in: Professional Book Archive
Leading world scholars analyze a range of specific departures from general equilibrium theory which have significant implications for the macroeconomic analysis of both developed and developing economies. Jacques Drèze considers uncertainty and incomplete markets and Nobel Laureate Robert Solow relates growth theory to the macroeconomic framework. Other issues examined are the implications for macro-policy of new research, including Joseph Stiglitz's warning on the misplaced zeal for financial market liberalization which partly engendered the East Asian and Russian crises.