Asset Accumulation and Economic Activity

Fülszöveg

Economies
In this work, which includes the 1978 Vrjo Jannsson Lectures and a slightly revised version of the Paish lecture delivered in the same year, James Tobin discusses two major issues of macroeconomics: the strength of automatic market forces in maintaining full employment equilibrium and the efficacy of government fiscal and monetary policies in stabilizing the economy.
"Asset Accumulation and Economie Activity is a cogent statement of the views of one of the most respected and thoughtful macroeconomists in the field, and will serve as a convenient reference and focal point from which to base future discussions. Tobin provides a well-argued critique of the rational expectations-market clearing approach to macroeconomics and a forceful defense of more traditional Keynesian économies."-Stanley Fischer, MIT
"Tobin has a remarkable gift for making difficult matters seem easy, a gift from which everyone working in monetary économies has reaped large benefits." -Robert E.... Tovább

Fülszöveg

Economies
In this work, which includes the 1978 Vrjo Jannsson Lectures and a slightly revised version of the Paish lecture delivered in the same year, James Tobin discusses two major issues of macroeconomics: the strength of automatic market forces in maintaining full employment equilibrium and the efficacy of government fiscal and monetary policies in stabilizing the economy.
"Asset Accumulation and Economie Activity is a cogent statement of the views of one of the most respected and thoughtful macroeconomists in the field, and will serve as a convenient reference and focal point from which to base future discussions. Tobin provides a well-argued critique of the rational expectations-market clearing approach to macroeconomics and a forceful defense of more traditional Keynesian économies."-Stanley Fischer, MIT
"Tobin has a remarkable gift for making difficult matters seem easy, a gift from which everyone working in monetary économies has reaped large benefits." -Robert E. Lucas, Journal of Economie Literature
"[Asset Accumulation and Economie Activity is the most brilliant, .cogent, and incisive critique of the theory of rational expectations that has yet appeared." -Key Reporter
James Tobin, the 1981 Nobel Laureate in Economies, is the Sterling Professor of Economies at Yale University. He is the author of National Economie Policy, Financial Markets and Economie Activity, Essays in Economies and Macro-economics, and The New Economies One Decade Older.
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