Includes bibliographical references (p. 283-289) and index.

First edition published as Macroeconomics : models, debates and developments.

Part 1 Keynes versus the Classics - will money-wage cuts remove unemployment?: the Classical model; Keynes' general theory. Part 2 Was Keynes' general theory simply a special case of the classical model?: special cases of the IS-LM model and the Neoclassical synthesis; the re-interpretation of Keynes. Part 3 Does fiscal policy really matter? The crowding-out debate: wealth effects and the government budget identity. Part 4 Inflation and unemployment - is there a trade-off?: inflation and unemployment. Part 5 Does macroeconomic policy really matter?: the new classical macroeconomics - an introduction; the new classical macroeconomics - some responses. Part 6 The open economy - the consequences of exchange rate regimes for domestic stabilization: the open economy, an introduction; the IS-LM model of a small open economy; stock-flow equilibrium in the open economy; prices, exchange rates and policy.