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Macroeconomic Modelling, Economic Policy and Methodology

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Asset Substitutability
Category=KCB
Danish Economy
DSGE
DSGE Model
DSGE models
ECB
economic pluralism
Economic Policy
empirical policy evaluation
eq_bestseller
eq_business-finance-law
eq_isMigrated=1
eq_isMigrated=2
eq_nobargain
eq_non-fiction
ethical considerations in economics
Financial Cycles
financial instability analysis
Foreign Assets
Gdp Cycle
Gdp Increase
Gdp Price
Helicopter Money
heterodox economics
Heterodox Economists
heterodox macroeconomics
Keynes
Macroeconomic Modelling
Methodology
Monetary Policy
Net Lending
Nonfinancial Business Sector
Output Gap
Real Gdp
sectoral balance approach
SFC
Share Gdp
Social Provisioning Process
Stock Flow Consistent Modelling
stock-flow consistent models
Unconventional Monetary Policy
Vice Versa

Product details

  • ISBN 9781032182131
  • Weight: 470g
  • Dimensions: 156 x 234mm
  • Publication Date: 05 Aug 2024
  • Publisher: Taylor & Francis Ltd
  • Publication City/Country: GB
  • Product Form: Paperback
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Description

Demonstrating that there are (superior) alternatives to the modern macroeconomic mainstream and its DSGE (dynamic stochastic general equilibrium) models, this book presents the cutting edge in macroeconomic modelling, economic policy, and methodology from the perspective of heterodox economic thinking.

The first part of the book explores methodological issues, advocating for a stronger ethical consideration in macroeconomics and for the adoption of a strategy of pluralism to ensure that macroeconomic theory is capable of adapting to real-world issues. The second part highlights recent trends in empirical Stock-Flow Consistent models by collecting a group of the most well-developed empirical models of five different economies: the Danish, the Dutch, the French, the Italian, and the Argentinian models. In all five cases, the models are used to discuss various policy aspects of the individual economies. Finally, the book explores issues of macroeconomic policy which are largely neglected by mainstream economists including financial (in)stability and macro imbalances. The book emphasizes the need for investigating sectoral balances, which are crucial elements for investigating imbalances from the heterodox perspective.

This book will be of significant interest to students and scholars of macroeconomics, economic modelling, economic methodology and heterodox economics more broadly.
About

Mikael Randrup Byrialsen is Associate Professor at the Aalborg University Business School, Denmark.

Hamid Raza is Associate Professor at the Aalborg University Business School, Denmark.

Finn Olesen is Professor at the Aalborg University Business School, Denmark.