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Asset Markets, Portfolio Choice and Macroeconomic Activity

A Keynesian Perspective

  • Book
  • © 2011

Overview

Authors:
  1. Toichiro Asada

    1. Chuo University, Tokyo, Japan

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  2. Peter Flaschel

    1. Bielefeld University, Bielefeld, Germany

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  3. Tarik Mouakil

    1. University of Cambridge, Cambridge, UK

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  4. Christian Proaño

    1. The New School for Social Research, New York, USA

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Table of contents (7 chapters)

  1. Front Matter

    Pages i-xii
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  2. General Introduction

    • Toichiro Asada, Peter Flaschel, Tarik Mouakil, Christian Proaño
    Pages 1-10

  3. Advances in AS-AD Model Building: Real Disequilibria and Portfolio Choice

    • Toichiro Asada, Peter Flaschel, Tarik Mouakil, Christian Proaño
    Pages 11-26

  4. Tobinian Stock-Flow Interactions in the KMG Framework

    • Toichiro Asada, Peter Flaschel, Tarik Mouakil, Christian Proaño
    Pages 27-61

  5. Analysis and Policy Implications of the KMG-Tobin Model

    • Toichiro Asada, Peter Flaschel, Tarik Mouakil, Christian Proaño
    Pages 62-92

  6. Tobinian Stock-Flow Interactions in the Mundell-Fleming Model

    • Toichiro Asada, Peter Flaschel, Tarik Mouakil, Christian Proaño
    Pages 93-127

  7. International Capital Flows: Two Extensions of the MFTobin Model

    • Toichiro Asada, Peter Flaschel, Tarik Mouakil, Christian Proaño
    Pages 128-157

  8. Fiscal and Monetary Policy, Stocks and the Term Structure of Interest Rates

    • Toichiro Asada, Peter Flaschel, Tarik Mouakil, Christian Proaño
    Pages 158-178

  9. Back Matter

    Pages 179-230
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Keywords

About this book

This book extends the KMG framework (Keynes, Meltzer, Goodwin) and focuses on financial issues. It integrates Tobin's macroeconomic portfolio approach and emphasizes the issue of stock-flow consistency.

Authors and Affiliations

  • Chuo University, Tokyo, Japan

    Toichiro Asada

  • Bielefeld University, Bielefeld, Germany

    Peter Flaschel

  • University of Cambridge, Cambridge, UK

    Tarik Mouakil

  • The New School for Social Research, New York, USA

    Christian Proaño

About the authors

TOICHIRO ASADA is Professor of Economics at Chuo University, Tokyo, Japan. His research interests include Macroeconomic Dynamic Theory and business cycles. He has published several books and many articles on Macroeconomic Dynamic Theory both in English and in Japanese. He has been employed at the New School for Social Research in New York, Bielefeld University in Germany and University of Technology Sydney as a visiting research scholar or visiting professor.

PETER FLASCHEL is Professor Emeritus at Bielefeld University, Germany. His research interests are in dynamic macroeconomics and microeconomics and Classical value and price theory. He has published numerous articles and more than twenty books. He was invited as Theodor Heuss Professor to the New School for Social Research in 2006 and received an Opus Magnum Grant from the Fritz Thyssen / Volkswagen Stiftungen in 2007/08.
 
TARIK MOUAKIL is Research Associate at the Centre for Financial Analysis and Policy at the University of Cambridge. He holds a Phd from the University of Bordeaux, France. His research interests are in Monetary Economics, Financial Keynesianism, and Macroeconomic modelling.

CHRISTIAN PROAÑO is Assistant Professor of Economics at the New School for Social Research in New York, USA. He studied economics at Bielefeld University in Germany, where he received a doctorate in economics 2008. From 2008 until mid 2010 he was a research economist at the Macroeconomic Policy Institute (IMK) in Düsseldorf, Germany. His main research interests are monetary policy and international finance.

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