Money, Markets and Method
Essays in Honour of Robert W. Clower
Published on 28. April 1999
Book
Hardback
304 pages
978-1-85898-901-3 (ISBN)
Description
Robert W. Clower has had a profound effect on the theory and practice of economics. The distinguished group of contributors to this book celebrates his seminal contribution to economic methodology and theory by providing key accounts of important themes in the area of money, markets and method.The volume begins with a number of papers dealing with Robert Clower's work and his views on methodology. The contributors then discuss Keynes's General Theory and its relationship to conventional Keynesian macroeconomic theory as well as the origins of the General Theory itself, a subject that has been central to Clower's writings. The analysis is then expanded to concentrate on how institutions matter in thin markets. Finally, the authors analyse ways in which adaptive behaviour influences the stability of markets in the context of trading relationships, repeated games and retail stores.
Reviews / Votes
'What [this book] has, to a greater degree than most conference volumes or Festschrifts, are pieces that provoke thought, stimulate further research, make one wish to read more works by these authors, and reminds one how much insight, stimulus, and pleasure is to be gained by re-reading Robert Clower's essays.' -- Robert W. Dimand, History of Economic Ideas 'The volume is well edited and clearly organized, and includes an informative list of contributors, noting their affiliations and a brief description of their work. . . . This volume succeeds as a fine and fitting tribute to the birthday honoree. Its essays present a significant development of this family of arguments.' -- Ross M. Starr, Journal of Economic LiteratureMore details
Language
English
Place of publication
Cheltenham
United Kingdom
Target group
College/higher education
Dimensions
Height: 234 mm
Width: 156 mm
ISBN-13
978-1-85898-901-3 (9781858989013)
Copyright in bibliographic data is held by Nielsen Book Services Limited or its licensors: all rights reserved.
Schweitzer Classification
Persons
Edited by Peter Howitt, Brown University, US, Elisabetta de Antoni, Professor of Economics, University of Trento, Italy and the late Axel Leijonhufvud, formerly Professor of Economics, University of California, Los Angeles, US and former Professor of Monetary Economics, University of Trento, Italy
Content
Contents: Introduction Part I: Monetary Theory and Methodology 1. Clower's Intellectual Voyage: The 'Ariadne's Thread' of Continuity Through Changes 2. Microfoundations: Adaptive or Optimizing? 3. Clower on Axiomatics 4. New Tools for Making Economics as Inductive Science Part II: Keynes's General Theory 5. From Keynes to Hicks - An Aberration? IS-LM and the Analytical Nucleus of the General Theory 6. Variations on a Two-Interest-Rate Theme 7. Thick Markets and Thin Theories: R.W. Clower and the Economics of J.M. Keynes Part III: Market Behaviour 8. Price Formation and Exchange in Thin Markets: A Laboratory Comparison of Institutions 9. Conformism and Multiple Sycophantic Equilibria 10. Asymmetric Contests: A Resolution of the Tullock Paradox Part IV: Market Stability 11. The Institutional Foundations of the Multiplier Process 12. Learning and the Stock-Flow Model 13. Price Setting in a Schematic Model of Inductive Learning Index