Income Distribution, Inflation, and Growth: Lectures on Structuralist Macroeconomic Theory

摘要: Structuralist macroeconomics has emerged recently as the only viable theoretical alternative for economists and practitioners in developing countries. Lance Taylor's innovative work represents a landmark this field. It codifies new generation of structuralist macroeconomic models that incorporate economic power relationships key institutions groups, integrates both finance real macroeconomics, covers diverse range experience world over past three decades. In an introduction Taylor explains his methodology, describes assumptions underlying used, reviews theories relate growth role financial assets. He then takes up basic closed economy moves on to consider open cases. incorporates latest developments field (inflation, crisis, exchange rate management, increasing returns, like) treatment departs substantially from orthodoxy. first addresses question how specify .closure" or define causal structure macro models. also considers income redistribution influences output interacts with inflation. Next, investment-driven non-full employment model draws ideas introduced earlier illustrate different sorts policies affect short-run adjustment prospects time. turns problems proposed by openness stylized semi-industrialized country, starting international trade. A fix-price/flex-price is developed, additional demonstrate cases policy relevance well interactions between class conflict growth.