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Modern macroeconomics has been based on the paradigm of the rational individual capable of understanding the complexity of the world. This has created a very sh

As Ken Wallis (1993) has pOinted out, all macroeconomic forecasters and policy analysts use economic models. That is, they have a way of going from assumptions

This book represents an ongoing research agenda the aim of which is to contribute to the Keynesian paradigm in macroeconomics. It examines the Dynamic General E

The past decade has seen many leading economies, especially the US, undergo profound structural transformations. Departing from the standard theories employed t