General Equilibrium, Capital and Macroeconomics

Fabio Petri

in Books from Edward Elgar Publishing

Abstract: This book argues that the shift in general equilibrium theory, from its early long-period to the modern very-short-period versions, has had very important consequences which are insufficiently appreciated by large parts of the economics profession. This shift has produced new difficulties, and has undermined central tenets of neoclassical macroeconomic theory (such as the negative dependence of aggregate investment on the interest rate, or the existence of a downward-sloping demand curve for labour) which had their basis in the long-period versions where capital was treated as a single factor.

Keywords: Economics and Finance (search for similar items in EconPapers)
JEL-codes: D7 (search for similar items in EconPapers)
Date: 2004
ISBN: 9781843768296
References: Add references at CitEc
Citations: View citations in EconPapers (54)

Downloads: (external link)
http://www.e-elgar.com/shop/isbn/9781843768296 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eebook:3438

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this book

More books in Books from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().