Description - Macroeconomics of Self-fulfilling Prophecies by Roger E. A. Farmer
This work argues for the future of macroeconomics as a branch of applied general equilibrium theory. The main theme is that macroeconomics is best viewed as the study of equilibrium environments in which the welfare theorems break down. This approach makes it possible to discuss the role of govenment policies in a context in which policy may serve some purpose. This edition has been updated to include problems at the end of each chapter and a discussion of research since the mid 1990s on business fluctuation in multi-sector models.
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(229mm x 159mm x 25mm)
Publisher: MIT Press Ltd
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Author Biography - Roger E. A. Farmer
Roger Farmer is Assistant Professor of Economics at the University of Pennsylvania.