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1、ModernMacroeconomicsInlovingmemoryofBrian’sparents,JosephandMargaretSnowdon,andHoward’sfather,PhilipM.VaneModernMacroeconomicsItsOrigins,DevelopmentandCurrentStateBrianSnowdonPrincipalLecturerinEconomicsintheNewcastleBusinessSchool,NorthumbriaUniversity,NewcastleuponTyne,
2、UKHowardR.VaneProfessorofEconomicsintheSchoolofAccounting,FinanceandEconomics,LiverpoolJohnMooresUniversity,Liverpool,UKEdwardElgarCheltenham,UK•Northampton,MA,USA©BrianSnowdon,HowardR.Vane2005Allrightsreserved.Nopartofthispublicationmaybereproduced,storedinaretrievalsyst
3、emortransmittedinanyformorbyanymeans,electronic,mechanicalorphotocopying,recording,orotherwisewithoutthepriorpermissionofthepublisher.PublishedbyEdwardElgarPublishingLimitedGlensandaHouseMontpellierParadeCheltenhamGlosGL501UAUKEdwardElgarPublishing,Inc.136WestStreetSuite2
4、02NorthamptonMassachusetts01060USAAcataloguerecordforthisbookisavailablefromtheBritishLibraryISBN184376394X(cased)1845422082(paperback)TypesetbyMantonTypesetters,Louth,Lincolnshire,UK.PrintedandboundinGreatBritainbyMPGBooksLtd,Bodmin,Cornwall.ContentsListoffiguresxListofta
5、blesxiiiPrefacexivAcknowledgementsxvii1Understandingmodernmacroeconomics11.1Macroeconomicissuesandideas11.2Theroleofeconomictheoryandcontroversy31.3Objectives,instrumentsandtheroleofgovernment71.4TheGreatDepression91.5Keynesandthebirthofmacroeconomics131.6Theriseandfallof
6、theKeynesianconsensus151.7Theoreticalschizophreniaandtheneoclassicalsynthesis211.8SchoolsofthoughtinmacroeconomicsafterKeynes241.9Thenewpoliticalmacroeconomics291.10Therenaissanceofeconomicgrowthresearch322Keynesv.the‘old’classicalmodel362.1Introduction362.2Classicalmacro
7、economics372.3Employmentandoutputdetermination382.4Say’sLaw452.5Thequantitytheoryofmoney502.6Keynes’sGeneralTheory542.7InterpretingtheGeneralTheory572.8Keynes’smainpropositions582.9Keynes’sanalysisofthelabourmarket652.10Keynes’srejectionofSay’sLaw692.11Keynesandthequantit
8、ytheoryofmoney692.12ThreeimportantinterpretationsofKeynes702.13The‘new’Keynesscholarship752.14Ca
