Prices, Quantities and Expectations

Keynes' "General Theory of Employment, Interest and Money" exerted great influence on economic thinking. To celebrate its 50th anniversary, this book includes important papers on various aspects of macroeconomics. It honours Keynes's achievement not so much by re-examining his writings as by gathering contemporary analyses of the issues upon which Keynes initiated discussion. The major themes that run through the volume are the laws governing the evolution of economic aggregates, the causes and effects of incomplete flexibility in wages and prices, and the implications of different assumptions about expectations and the quality of information. The book is intended for economists interested in recent developments in macroeconomics, especially rational expectations, international trade, game theory and money.