In this chapter we reconsider the microfounded approaches to macro-statics and -dynamics that started from the so-called fix-price models (with quantity adjustments in the place of price adjustments) for their determination of temporary equilibrium positions. We shall reconsider these approaches here purely on the macrolevel and from the perspective of descriptive macrodynamics in order to investigate the contributions of these approaches to macrodynamics to a further improvement of the general KMG model of monetary growth originally developed in Chiarella and Flaschel (2000).
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(2008). Outlook: Supply Constraints in Demand-Driven Macromodels. In: Topics in Applied Macrodynamic Theory. Dynamic Modeling and Econometrics in Economics and Finance, vol 10. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-72542-8_10
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DOI: https://doi.org/10.1007/978-3-540-72542-8_10
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