Uncertainty, Macroeconomic Stability and the Welfare State  book cover
1st Edition

Uncertainty, Macroeconomic Stability and the Welfare State



ISBN 9781138724891
Published December 31, 2020 by Routledge
174 Pages

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Book Description

This title was first published in 2002: This monograph sets out to model a macroeconomy that is inherently unstable because of qualitative - or Keynesian - uncertainty. By modelling a macroeconomic theory, this approach to fixed or sticky prices also investigates the link between uncertainty, sticky prices, and macro-stability - by suggesting that such prices improve economic activity rather than impeding it.