(Ebook) Heterodox Macroeconomics Models of Demand Distribution and Growth 1st edition by Robert Blecker, Mark Setterfield 1784718890 9781784718893

(Ebook) Heterodox Macroeconomics Models of Demand Distribution and Growth 1st edition by Robert Blecker, Mark Setterfield 1784718890 9781784718893

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ISBN-10 :  1784718890 

ISBN-13 :  9781784718893 

Author:  Robert A. Blecker, Mark Setterfield 

The last few decades have witnessed an outpouring of literature on macroeconomic models in the broad ‘heterodox’ tradition of Marx, Keynes, Robinson, Kaldor and Kalecki. These models yield an alternative analytical framework in which the big questions of our day – such as how inequality is related to growth or stagnation, and whether long-run growth is stable or unstable – can be fruitfully addressed. Heterodox Macroeconomics provides an accessible, pedagogically oriented treatment of the leading models and approaches in heterodox macroeconomics with clear, step-by-step presentations of core models and their solutions, properties and implications. The book begins with an overview and comparison of heterodox and mainstream approaches to long-run growth. Next it covers the core classical-Marxian, neo-Keynesian and neo-Kaleckian models of growth and distribution in the heterodox tradition. Numerous contemporary extensions, developments and alternatives are then explored, including models of financial instability, ‘supermultiplier’ models, and debates about whether capacity utilization converges to a ‘normal’ rate. The book also gives extensive coverage to models of growth in open economies, emphasizing the role of Kaldorian cumulative causation in fostering divergence among national economies, and the limitations imposed by balance-of-payments constraints on countries that rely on export-led growth. Heterodox Macroeconomics will prove to be an invaluable text for graduate and advanced undergraduate students of macroeconomics as well as those in courses on post-Keynesian theory, structuralist macroeconomics, or other heterodox approaches to economics.

Heterodox Macroeconomics: Models of Demand, Distribution and Growth 1st Table of contents:

Part I Core Models of Growth and Distribution
Classical-Marxian models
Neo-Keynesian models
Neo-Kaleckian models
Part II Extended Models of Distributional Conflict and Cyclical Dynamics
Distributional conflict, aggregate demand and neo-Goodwin cycles
Neo-Harrodian models and the Harrodian instability debate
New directions: wage inequality, rentier income, financial dynamics and supermultiplier models
Part III Kaldorian Approaches: Export-Led Growth and the Balance-of-Payments Constraint
Export-led growth and cumulative causation
Balance-of-payments-constrained growth I: Thirlwall’s law and extensions
Balance-of-payments-constrained growth II: critiques, alternatives and syntheses

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Tags: Heterodox Macroeconomics, Models, Demand, Distribution, Growth, Robert Blecker, Mark Setterfield