A Modern Guide to Keynesian Macroeconomics and Economic Policies

This unique and comprehensive 'modern guide' presents state-of-the-art surveys covering the main areas of macroeconomics and economic policy by well-known post-Keynesian authors. The chapters explore intriguing and important issues including: the history and methods of post-Keynesian economics money, credit and central banks growth and income distribution post-Keynesian macroeconomics as an alternative to the New Consensus the macroeconomics of unemployment and labor market issues European economic policies open economy models of distribution and growth international monetary and global economics financialisation and financial crisis. This well-documented book will prove to be the essential guide for researchers and graduate students in macroeconomics and political economy. It will also prove inspiring to a wider audience interested in modern Keynesian macroeconomics. Contributors:P. Arestis, R.A. Blecker, A.K. Dutt, G.A. Dymski, E. Hein, H. Herr, D.R. Howell, M. Lavoie, O. Onaran, E. Stockhammer

Table of Contents:
Contents: Introduction Eckhard Hein and Engelbert Stockhammer 1. History and Methods of Post-Keynesian Economics Marc Lavoie 2. Money, Credit and Central Banks in Post-Keynesian Economics Marc Lavoie 3. Growth and Income Distribution: A Post-Keynesian Perspective Amitava Krishna Dutt 4. Keynesian Economics and the New Consensus in Macroeconomics Philip Arestis 5. A Post-Keynesian Macroeconomic Model of Inflation, Distribution and Employment Eckhard Hein and Engelbert Stockhammer 6. The Macroeconomics of Unemployment Engelbert Stockhammer 7. Institutions, Aggregate Demand and Cross-Country Employment Performance: Alternative Theoretical Perspectives and the Evidence David R. Howell 8. European Economic and Monetary Union Policies from a Keynesian Perspective Philip Arestis 9. Open Economy Models of Distribution and Growth Robert A. Blecker 10. Globalisation, Macroeconomic Performance and Distribution Özlem Onaran 11. International Monetary and Financial Architecture Hansjörg Herr 12. ‘Financialisation’, Distribution and Growth Eckhard Hein 13. Keynesian Approaches to Financial Crisis Gary A. Dymski Index

About the Author :
Edited by Eckhard Hein, Professor of Economics, Institute for International Political Economy, Berlin School of Economics and Law, Germany and Engelbert Stockhammer, King's College London, UK

Review :
’For more than a decade, most macroeconomists convinced themselves they were witnessing a "Great Moderation". Many Keynesians saw instead the accumulation of a fragility and potential instability that have become dramatically manifest since 2007. The premise of this book is that the financial crisis and Great Recession necessitate a revival of Keynesian macroeconomics, emphasizing the central roles of effective demand, money and finance in modern capitalism. Comprising essays on all aspects of macroeconomic theory and policy, the book will prove invaluable for scholars and graduate students seeking to acquaint themselves with the frontiers of modern Keynesian macroeconomics.’ ’The essays in this book are of the highest quality and give a substantial account of a strand of current heterodox thought.’