ABSTRACT

With both Monetarist and Keynesian economic theory so closely bound up with employment levels and inflation, the contrast between the two models is here given thorough examination in light of real post-war data. Following the development of Monetarism as a reaction against Keynesian analysis, Drobny focuses on the importance of relative pricing wit

part |2 pages

Part One THE IMPORTANCE OF RELATIVE PRICES IN COMPETING MACROECONOMIC THEORIES

part |2 pages

Part Two ALTERNATIVE VIEWS OF THE AGGREGATE DEMAND FOR LABOUR SCHEDULE

part |2 pages

Part Three GRANGER-CAUSALITY TESTS WITH DATA FROM THE MANUFACTURING SECTOR OF THE UK