This book reconstructs Keynesian macroeconomics so that it is compatible with the neoclassical dynamic microeconomic theory. This theory adopts three postulates: rational expectations, perfect price f
This book reconsiders Keynes’s The General Theory of Employment, Interest and Money and establishes a new interpretation. In contrast to the existing models, this book finds that the stickiness in the
The deflationary Japanese economy is a spurious observation and a precarious political propaganda, which tacitly connects with the fanatic diagnosis urging an inflation-prompting macroeconomic policy.
This book works at the intersection of economic theory history. It presents a Keynesian theory with a rigorous dynamic microeconomic foundation that entirely differs from new Keynesian theory and appl
This book elucidates the economic conditions and policies during the post War Japanese economy from the view point of an influential policy maker. Dr. Osamu Shimomura is one of the most eminent econo
