E-Book Overview
More than a decade after the publication of the critically acclaimed A Modern Guide to Macroeconomics, Brian Snowdon and Howard Vane have produced a worthy successor in the form of Modern Macroeconomics. Thoroughly extended, revised and updated, it will become the indispensable text for students and teachers of macroeconomics in the new millennium. The authors trace the origins, development and current state of modern macroeconomics from an historical perspective. They do so by thoroughly appraising the central tenets underlying the main competing schools of macroeconomic thought as well as their diverse policy implications.
E-Book Content
Modern Macroeconomics
In loving memory of Brian’s parents, Joseph and Margaret Snowdon, and Howard’s father, Philip M. Vane
Modern Macroeconomics Its Origins, Development and Current State
Brian Snowdon Principal Lecturer in Economics in the Newcastle Business School, Northumbria University, Newcastle upon Tyne, UK
Howard R. Vane Professor of Economics in the School of Accounting, Finance and Economics, Liverpool John Moores University, Liverpool, UK
Edward Elgar Cheltenham, UK • Northampton, MA, USA
© Brian Snowdon, Howard R. Vane 2005 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, electronic, mechanical or photocopying, recording, or otherwise without the prior permission of the publisher. Published by Edward Elgar Publishing Limited Glensanda House Montpellier Parade Cheltenham Glos GL50 1UA UK Edward Elgar Publishing, Inc. 136 West Street Suite 202 Northampton Massachusetts 01060 USA
A catalogue record for this book is available from the British Library
ISBN 1 84376 394 X (cased) 1 84542 208 2 (paperback) Typeset by Manton Typesetters, Louth, Lincolnshire, UK. Printed and