A Model of Macroeconomic Activity: Volume I: The Theoretical Model by Ray C. Fair English | Apr. 1975 | ISBN: 0884102688 | 241 Pages | PDF | 10 MB
The work in this volume grew out of both my dissatisfaction with the standard
static-equilibrium model that is found in most macroeconomic textbooks and
my interest in the problem of basing macroeconomic theory on more solid
microeconomic foundations. I was also interested in trying to incorporate into a
general model of macroeconomic activity the recent work in economic theory
that has been done on relaxing the assumptions of perfect information and the
existence of tatonnement processes that clear markets every period.