Overview

Modern macroeconomics suffers from an unclear link between short-term Keynesian analysis and long-term growth modelling. Moreover, product and process innovations have been only partially integrated. The analysis suggests new approaches to innovations in open economies in many ways, including the Schumpeterian Mundell-Fleming model and new monetary growth models. A specific focus is on the role of innovations for output, employment and exchange rate developments. This book presents a new link between monetary analysis and growth modelling in open economies. Structural change, innovations and growth are considered from a new perspective. With respect to economic policy - in particular innovation policy - the analysis implies major changes, concerning both EU countries and other leading OECD economies. This important new book sets a new direction for macroeconomics. By linking several strands of fundamental economic thinking into a coherent, integrated framework it provides a pathbreaking understanding into the fundamental forces shaping macroeconomic performance. In particular, by injecting insights from the Schumpeterian model, the author succeeds in presenting a new policy framework to guide economic growth policy. Prof. Dr. David Audretsch, Institute of Development Strategies, Indiana University, Bloomington, USA

Full Product Details

Author:   Paul J.J. Welfens
Publisher:   Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
Imprint:   Springer-Verlag Berlin and Heidelberg GmbH & Co. K
Edition:   3rd ed. 2011
Dimensions:   Width: 15.50cm , Height: 3.40cm , Length: 23.50cm
Weight:   0.991kg
ISBN:  

9783642442056

ISBN 10:   3642442056
Pages:   634
Publication Date:   02 October 2014
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Active
Availability:   Manufactured on demand  
We will order this item for you from a manufactured on demand supplier.

Table of Contents

Globalization, Specialization and Innovation Dynamics.-  Savings, Investment and Growth: New Approaches for Macroeconomic Modeling.- Economic Integration, Technological Progress and Growth.- Impact of the Real Exchange Rate on Trade, Structural Change and Growth.- Macroeconomic Aspects of Opening Up, Unemployment, Growth and Transition.- Productivity Shocks, Innovations, Stock Market Dynamics and Growth,- Innovation Dynamics and Optimum Growth.- Trade, Structural Change and Growth in an Open Monetary Economy.- Innovations in the Digital Economy: Promotion of R&D and Growth in Open Economies.- EU Innovation Policy: Analysis and Critique.- Financial Market Integration, Interest Rates and Economic Development.- Natural Resources, Oil Prices and Innovation Dynamics.- Portfolio Modeling and Growth in Open Economies.- Transatlantic Banking Crisis: Analysis, Rating, Policy Issues.- International Banking Crisis and Innovation.- New MARSHALL-LERNER Condition and Economic Globalization.- Trade, Innovation and Output Dynamics.- New Open Economy Policy Perspectives: Modified Golden Rule and Hybrid Welfare.- Employment in the R&D Sector, Economic Policy and the Golden Rule.- Some Remarks on Growth Analysis on the Basis of CES.

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