Expectations, Employment and Prices [Hardcover]Roger Farmer (Author)
Hardcover: 208 pages
Publisher: Oxford University Press, USA (March 31, 2010) Language: English ISBN-10: 0195397908 ISBN-13: 978-0195397901 Product Dimensions: 9.3 x 6.2 x 0.9 inches
Expectations Employment and Prices is a monograph aimed at an academic audience. It brings Keynesian economics into the 21st century by providing a new paradigm which explains how high unemployment could potentially persist forever without a little help from the government. The book fills in logical gaps that were missing from the General Theory by reconciling some of its key ideas with modern economic theory. Central bankers throughout the world are talking now about developing a second instrument of monetary policy in addition to controlling the interest rate. This book directly addresses this issue and offers new creative monetary policy proposals and suggestions for the design of new financial institutions for  the 21st century.