Asset Markets, Portfolio Choice and Macroeconomic Activity A Keynesian Perspective

This book extends the KMG framework (Keynes, Meltzer, Goodwin) and focuses on financial issues. It integrates Tobin's macroeconomic portfolio approach and emphasizes the issue of stock-flow consistency.

Toichiro Asada is Professor of Economics at Chuo University/Tokyo, Japan His research interests include macroeconomic dynamic theory and business cycles He has published several books and many articles on macroeconomic dynamic theory He has been employed at the New School for Social Research in New York, USA, Bielefeld University in Germany and the University of Technology in Sydney, Australia, as a visiting research scholar or visiting professor Peter Flaschel is Professor Emeritus at Bielefeld University, Germany His research interests are in dynamic macroeconomics and microeconomics, and classical value and price theory He has published numerous articles and more than twenty books He was invited as Theodor Heuss Professor to the New School for Social Research in 2006 and received an Opus Magnum Grant from the Cologne-based Fritz Thyssen /Volkswagen Stiftungen in2007/O8 Tarik Mouakil is Research Associate at: the Centre for Financial Analysis and Policy at the University of Cambridge, UK. He holds a Phd from the University of -Bordeaux, France His research interests are in monetary economics, financial Keynesianism and macroeconomic modelling