Includes index.

Introduction / Carl Chiarella, Peter Flaschel, Reiner Franke, Willi Semmler -- New Keynesian theory and the new Phillips curves : a competing approach / Peter Flaschel, Ekkehart Schlicht -- Keynesian theory and the AD-AS framework : a reconsideration / Amitava Krishna Dutt, Peter Skott -- AD-AS and the phillips curve : a baseline disequilibrium model / Toichiro Asada, Pu Chen, Carl Chiarella, Peter Flaschel -- Keynesian macrodynamics and the Phillips curve : an estimated model for the U.S. economy / Pu Chen, Carl Chiarella, Peter Flaschel, Willi Semmler -- Advanced Keynes Metzler Goodwin macro modeling : a calibration study / Reiner Franke -- A stochastic model of real-financial interaction with boundedly rational heterogeneous agents / Carl Chiarella, Peter Flaschel, Xue-Zhong He, Hing Hung -- A high-dimensional model of real-financial market interaction : the cascade of stable matrices approach / Carl Chiarella, Peter Flaschel, Reiner Franke, Willi Semmler -- Currency crisis, financial crisis, and large output loss / Peter Flaschel, Willi Semmler -- Wage price Phillips curves and macroeconomic stability : basic structural form, estimation and analysis / Peter Flaschel, Hans-Martin Krolzig -- Prosperity and stagnation in capitalist economies / Toichiro Asada, Peter Flaschel, Peter Skott -- Keynesian dynamics without the LM curve : implications of underlying open market operations / Reiner Franke -- Nonlinear Phillips curves, endogenous NAIRU and monetary policy / Willi Semmler, Wenlang Zhang -- Three wage-price macro models and their calibration / Reiner Franke -- Inflation targeting policy in a dynamic Keynesian model with debt accumulation : a Japanese perspective / Toichiro Asada -- The decomposition of the inflation unemployment relationship by time scale using wavelets / Marco Gallegati, James B. Ramsey, Mauro Gallegati, Willi Semmler.

This book represents an ongoing research agenda the aim of which is to contribute to the Keynesian paradigm in macroeconomics. A currently dominant research strategy in macroeconomics is based on the Dynamic General Equilibrium (DGE) model. Its essential features are the assumption of intertemporal optimizing behavior of economic agents, competitive markets and price mediated market clearing through flexible wages and prices. Contributions to Economic Analysis was established in 1952. The series purpose is to stimulate the international exchange of scientific information. The series includes books from all areas of macroeconomics and microeconomics.

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