TAILIEUCHUNG - The F oundations of Mod ern Macroeconomics

In this book we try to present a balanced overview of modern macroeconomic theory. We have adhered to two guiding principles in writing this book. First, we have adopted a rather eclectic approach by paying attention not just to the most recent insights in the field but also to developments that are currently less fashionable. In doing so we hope to provide the students with a better overview of current and past debates in macroeconomic theory. | OX-FORD FOUNDATIONS OF MODERN MACRO ECONOMICS BEN . HEIJDRA I FREDERICK VAN The Foundations of Modern Macroeconomics Ben J. Heijdra Frederick van der Ploeg OXFORD UNIVERSITY PRESS OXFORD UNIVERSITY PRESS Great Clarendon Street Oxford 0X2 6DP . Oxford University Press is a department of the University of Oxford. It furthers the University s objective of excellence in research scholarship and education by publishing worldwide in Oxford New York Auckland Bangkok Buenos Aires Cape Town Chennai Dares Salaam Delhi Hong Kong Istanbul Karachi Kolkata Kuala Lumpur Madrid Melbourne Mexico City Mumbai Nairobi São Paulo Shanghai Singapore Taipei Tokyo Toronto with an associated company in Berlin Oxford is a registered trade mark of Oxford University Press in the UK and in certain other countries Published in the United States by Oxford University Press Inc. New York Ben J. Heijdra 2002 The moral rights of the authors have been asserted Database right Oxford University Press maker First published 2002 All rights reserved. No part of this publication may be reproduced stored in a retrieval system or transmitted in any form or by any means without the prior permission in writing of Oxford University Press or as expressly permitted by law or under terms agreed with the appropriate reprographics rights organization. Enquiries concerning reproduction outside the scope of the above should be sent to the Rights Department Oxford University Press at the address above You must not circulate this book in any other binding or cover and you must impose this same condition on any acquirer British Library Cataloguing in Publication Data Data available Library of Congress Cataloging in Publication Data Heijdra Ben J. Foundations of modern macroeconomics Ben J. Heiịdra Frederick van der Ploeg. p. cm. Includes bibliographical references. 1. Macroeconomics. I. Ploeg Frederick van der 1956- II. Title. .H437 2002 339 dc21 2001055718 ISBN 0-19-877618-7 ISBN 0-19-877617-9 pbk. 10 .

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