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An analytical and expositional introduction to Keynesian economics
The New Keynesian Macroeconomics offers a rigorous, comprehensive introduction to the field. Broad in scope yet deep in detail, this book draws from the large and varied literature to present the most fundamental principles including fixed price models, real and nominal price rigidities, coordination failures, and much more. Insightful analysis covers imperfections in the labor, credit, and commodity markets, as well as the work surrounding macroeconomic externalities and hysteresis that broke ground in the 1980s and a host of other landmark issues to provide a complete and invaluable reference.