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A Study in Monetary Macroeconomics$
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Stefan Homburg

Print publication date: 2017

Print ISBN-13: 9780198807537

Published to Oxford Scholarship Online: August 2017

DOI: 10.1093/oso/9780198807537.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 23 June 2021



(p.1) Chapter 1 Introduction
A Study in Monetary Macroeconomics

Stefan Homburg

Oxford University Press

Chapter 1 describes the book’s aims and scope. The main objective is to improve understanding of the Great Recession and its aftermath. The book provides a unified theoretical framework that uses dynamic general equilibrium models, or DGE, but dispenses with the rational expectations assumption. Its distinctive features are clean models with a rich institutional structure encompassing credit money, external finance, borrowing constraints, net worth, real estate, and commercial banks. Written for economists in universities, governments, and financial institutions, the book addresses an international audience.

Keywords:   DGE models, rational expectations, Great Recession, credit money, external finance, net worth, real estate commercial banks

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