Macroeconomics and finance essays in honor of franco modigliani
Articles and essays by the late Nobel Prize-winning economist on the life-cycle hypothesis, unemployment and monetary policy in the European Union, and other topics. This volume of papers, articles, and essays by the late Nobel Prize-winning economist Franco Modigliani contains writings published during the last decade of his life as well as three seminal earlier papers on the life-cycle hypothesis. As in the previous Collected Papers, the writings are organized by topic; within each topic, the order is chronological. Part I treats the life-cycle hypothesis.
In Honor of Nobel Laureate, Franco Modigliani - American Economic Association
Cheltenham, UK: Edward Elgar, Reviewed for EH. Banks and Finance in Modern Macroeconomics by Bruna Ingrao and Claudio Sardoni aims to explain the eviction of banks and finance from the mainstream of macroeconomics before the Great Recession occurred in Chapter 4 shows how, in the early s, John Maynard Keynes and Fisher analyzed the destabilizing effects of deflation on the financial structure of the economy. Chapter 5 opens the story of how the mainstream excluded banks and finance from its models. It argues that, from to , Keynes progressively expelled commercial banks from his theoretical apparatus.
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