Macroeconomic Foundations of MacroeconomicsContrary to common belief, macroeconomics is not merely a theory of aggregates, and cannot be constructed from individual behaviour. Both nationally and internationally, there are economic laws that are logically independent of economic agents’ behaviour. These are the macroeconomic foundations of macroeconomics. Presenting cutting-edge material, Alvaro Cencini explores these foundations, and shows that the introduction of money entails economics being interpreted conceptually not mathematically. His innovative book provides the elements for a new approach by applying the most recent results of monetary analysis to the study of national and international economics. It covers recent progress in monetary theory, provides the reader with a greater understanding of the subject, and will be essential reading for economic students as well as a valuable resource for economists. |
Contents
PART I | 8 |
Neoclassical new classical and new business cycle | 27 |
Keynesian new Keynesian and postKeynesian economics | 42 |
Identity versus equilibrium | 58 |
Keynes revisited | 72 |
PART II | 91 |
Is money an asset? | 97 |
Money and credit | 104 |
its macroeconomic origin | 168 |
PART III | 177 |
The traditional analysis of eurocurrencies | 186 |
A macroeconomic cause for exchange rate | 203 |
The macroeconomic analysis of world monetary | 225 |
a striking example | 248 |
The laws of macroeconomics | 277 |
the national level | 298 |
Production and consumption as macroeconomic events | 114 |
their macroeconomic origin | 132 |
Inflation and unemployment as macroeconomic disorders | 152 |
The quantum theoretical approach to inflation | 158 |
the international level | 315 |
Bibliography | 334 |
| 350 | |