Macroeconomics: Institutions, Instability, and the Financial System

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This authoritative new textbook integrates the modern monetary framework, based on the 3-equation model of the demand side, the supply side and the policy maker, with a model of the financial system. As a result, the authors comprehensively address the limitations of the mainstream macroeconomic model exposed by the financial crisis and the Eurozone crisis.The book guides the reader through the three principal steps required to integrate the financial system within the macroeconomic model.Firstl...Vis mer