Structural Slumps: The Modern Equilibrium Theory of Unemployment, Interest, and Assets

By Edmund S. Phelps

Book Overview

Long periods of high unemployment have dogged the United States and Western Europe since the early 1970s and most of the well-developed members of the global economy are in another such period now. Dissatisfied with the explanations put forth by the Keynesian, monetarist, New Keynesian and neoclassical schools, Edmund Phelps has constructed a new series of models that account for the phenomenon of long-term slumps in terms of structural forces.

• Format: Hardcover
• Language: English
• ISBN: 0674843738
• ISBN13: 9780674843738
• Release Date: January 1994
• Publisher: Harvard University Press
• Length: 440 Pages
• Weight: 1.70 lbs.
• Dimensions: 9.8" x 1.3" x 6.8"