Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
New Keynesian Economics, Volume 2: Coordination Failures and Real Rigidities

New Keynesian Economics, Volume 2: Coordination Failures and Real Rigidities

Mankiw, N. Gregory
Romer, David

Paperback

Series: Readings in Economics, Book 2

Economics

ISBN10: 0262631342
ISBN13: 9780262631341
Publisher: Mit Pr
Published: Apr 24 1991
Pages: 466
Weight: 1.57
Height: 1.03 Width: 5.96 Depth: 8.96
Language: English

These two volumes bring together a set of important essays that represent a new Keynesian perspective in economics today. This recent work shows how the Keynesian approach to economic fluctuations can be supported by rigorous microeconomic models of economic behavior. The essays are grouped in seven parts that cover costly price adjustment, staggering of wages and prices, imperfect competition, coordination failures, and the markets for labor, credit, and goods. An overall introduction, brief introductions to each of the parts, and a bibliography of additional papers in the field round out this valuable collection. Volume 1 focuses on how friction in price setting at the microeconomic level leads to nominal rigidity at the macroeconomic level, and on the macroeconomic consequences of imperfect competition, including aggregate demand externalities and multipliers. Volume 2 addresses recent research on non-Walrasian features of the labor, credit, and goods markets.

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