The New Paradigm in Macroeconomics Author : Richard Werner Publisher : Palgrave Macmillan Total Pages : 440 Release : 2005-06-11 ISBN 10 : 1403920745 ISBN 13 : 9781403920744 Language : EN, FR, DE, ES & NL GET BOOK The New Paradigm in Macroeconomics Book Description: A growing literature on information imperfections, credit markets and non-Walrasian outcomes poses a significant challenge to traditional approaches in economics. This book unifies key aspects of these challenges in the formulation of a new macroeconomic paradigm. Its validity is tested using data on Japan, one of the biggest empirical challenges to the "old" paradigm. In the process, a contribution is made towards a better understanding of the many "puzzles" or "anomalies" of the Japanese economy of the past decades. However, the new approach is applicable far beyond Japan.