He also introduced “disequilibrium economics,” which is the explicit study of departures from general equilibrium. His approach was taken up by other leading economists and developed rapidly into what ...
Foundations of International Macroeconomics, MIT Press, 2000; P Aghion & P Howitt, Endogenous Growth Theory, MIT Press 1998; C A Pissarides, Equilibrium Unemployment Theory, MIT Press 2000. References ...
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