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Money Matters: Some Puzzles, Anomalies and Crises in the Standard Macroeconomic Model

Money Matters: Some Puzzles, Anomalies and Crises in the Standard Macroeconomic Model

Paperback

EconomicsInvesting & FinanceGeneral Political Science

ISBN10: 3631721455
ISBN13: 9783631721452
Publisher: Peter Lang
Published: Jun 30 2017
Pages: 146
Weight: 0.30
Height: 0.50 Width: 4.70 Depth: 6.70
Language: English

The 2007 financial crisis and the Great Recession have prompted a debate about the state of macroeconomics, and many orthodox economists have argued that macroeconomics has entered a Dark Age.

This book discusses the shortcomings of the standard macroeconomic model (SMM). The SMM failed to explain the real world and anticipate the global financial crises. The main reasons for this failure have been attributed to its inability to assign an active role of money and by the absence of appropriate modelling of financial markets.

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Economics