Edited by Jean-Pascal Bénassy, Directeur de Recherches, CNRS and Research Associate, CEPREMAP, Paris, France

'Modern macrotheory features some ideas that are either very deep or very peculiar. This excellent collection includes some of the original sources of those ideas, and then goes on to show by example how modifying or abandoning them can lead to more interesting and - I think - more realistic macroeconomic stories. It is an education in itself.'

• Contents:AcknowledgementsIntroduction Jean-Pascal BénassyPART IFOUNDATIONS AGrowth and Intertemporal Maximization1. F.P. Ramsey (1928), ‘A Mathematical Theory of Saving’BWalrasian Equilibrium2. Kenneth J. Arrow and Gerard Debreu (1954), ‘Existence of an Equilibrium for a Competitive Economy’3. K.J. Arrow (1964), ‘The Role of Securities in the Optimal Allocation of Risk-Bearing’CGeneral Equilibrium under Price Rigidities4. Robert Clower (1965), ‘The Keynesian Counterrevolution: A Theoretical Appraisal’5. Robert J. Barro and Herschel I. Grossman (1971), ‘A General Disequilibrium Model of Income and Employment’6. Jacques H. Drèze (1975), ‘Existence of an Exchange Equilibrium Under Price Rigidities’7. Jean-Pascal Bénassy (1975), ‘Neo-Keynesian Disequilibrium Theory in a Monetary Economy’8. Joaquim Silvestre (1983), ‘Fixprice Analysis in Productive Economies’DGeneral Equilibrium under Imperfect Competition9. Takashi Negishi (1961), ‘Monopolistic Competition and General Equilibrium’10. Jean Jaskold Gabszewicz and Jean-Philippe Vial (1972), ‘Oligopoly “A la Cournot” in a General Equilibrium Analysis’11. Jean-Pascal Bénassy (1988), ‘The Objective Demand Curve in General Equilibrium with Price Makers’EWalrasian Cycles12. Robert E. Lucas, Jr. (1972), ‘Expectations and the Neutrality of Money’13. Finn E. Kydland and Edward C. Prescott (1982), ‘Time to Build and Aggregate Fluctuations’14. John B. Long, Jr. and Charles I. Plosser (1983), ‘Real Business Cycles’PART IINON-WALRASIAN CYCLES AReal and Nominal Rigidities15. Lars E.O. Svensson (1986), ‘Sticky Goods Prices, Flexible Asset Prices, Monopolistic Competition, and Monetary Policy’16. Jean-Pierre Danthine and John B. Donaldson (1991), ‘Risk Sharing, the Minimum Wage, and the Business Cycle’17. Jang-Ok Cho (1993), ‘Money and the Business Cycle with One-period Nominal Contracts’18. Jean-Olivier Hairault and Franck Portier (1993), ‘Money, New-Keynesian Macroeconomics and the Business Cycle’19. Jean-Pascal Bénassy (1995), ‘Money and Wage Contracts in an Optimizing Model of the Business Cycle’20. Jang-Ok Cho, Thomas F. Cooley and Louis Phaneuf (1997), ‘The Welfare Cost of Nominal Wage Contracting’BDynamics and Persistence21. Guillermo A. Calvo (1983), ‘Staggered Prices in a Utility-Maximizing Framework’22. Tack Yun (1996), ‘Nominal Price Rigidity, Money Supply Endogeneity, and Business Cycles’23. Torben M. Andersen (1998), ‘Persistency in Sticky Price Models’24. Olivier Jeanne (1998), ‘Generating Real Persistent Effects of Monetary Shocks: How Much Nominal Rigidity Do We Really Need?’25. Jean-Pascal Bénassy (2003), ‘Output and Inflation Dynamics under Price and Wage Staggering: Analytical Results’26. Lawrence J. Christiano, Martin Eichenbaum and Charles L. Evans (2005), ‘Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy’Name Index

Edited by Jean-Pascal Bénassy, Directeur de Recherches, CNRS and Research Associate, CEPREMAP, Paris, France

'Modern macrotheory features some ideas that are either very deep or very peculiar. This excellent collection includes some of the original sources of those ideas, and then goes on to show by example how modifying or abandoning them can lead to more interesting and - I think - more realistic macroeconomic stories. It is an education in itself.'

• Contents:AcknowledgementsIntroduction Jean-Pascal BénassyPART IFOUNDATIONS AGrowth and Intertemporal Maximization1. F.P. Ramsey (1928), ‘A Mathematical Theory of Saving’BWalrasian Equilibrium2. Kenneth J. Arrow and Gerard Debreu (1954), ‘Existence of an Equilibrium for a Competitive Economy’3. K.J. Arrow (1964), ‘The Role of Securities in the Optimal Allocation of Risk-Bearing’CGeneral Equilibrium under Price Rigidities4. Robert Clower (1965), ‘The Keynesian Counterrevolution: A Theoretical Appraisal’5. Robert J. Barro and Herschel I. Grossman (1971), ‘A General Disequilibrium Model of Income and Employment’6. Jacques H. Drèze (1975), ‘Existence of an Exchange Equilibrium Under Price Rigidities’7. Jean-Pascal Bénassy (1975), ‘Neo-Keynesian Disequilibrium Theory in a Monetary Economy’8. Joaquim Silvestre (1983), ‘Fixprice Analysis in Productive Economies’DGeneral Equilibrium under Imperfect Competition9. Takashi Negishi (1961), ‘Monopolistic Competition and General Equilibrium’10. Jean Jaskold Gabszewicz and Jean-Philippe Vial (1972), ‘Oligopoly “A la Cournot” in a General Equilibrium Analysis’11. Jean-Pascal Bénassy (1988), ‘The Objective Demand Curve in General Equilibrium with Price Makers’EWalrasian Cycles12. Robert E. Lucas, Jr. (1972), ‘Expectations and the Neutrality of Money’13. Finn E. Kydland and Edward C. Prescott (1982), ‘Time to Build and Aggregate Fluctuations’14. John B. Long, Jr. and Charles I. Plosser (1983), ‘Real Business Cycles’PART IINON-WALRASIAN CYCLES AReal and Nominal Rigidities15. Lars E.O. Svensson (1986), ‘Sticky Goods Prices, Flexible Asset Prices, Monopolistic Competition, and Monetary Policy’16. Jean-Pierre Danthine and John B. Donaldson (1991), ‘Risk Sharing, the Minimum Wage, and the Business Cycle’17. Jang-Ok Cho (1993), ‘Money and the Business Cycle with One-period Nominal Contracts’18. Jean-Olivier Hairault and Franck Portier (1993), ‘Money, New-Keynesian Macroeconomics and the Business Cycle’19. Jean-Pascal Bénassy (1995), ‘Money and Wage Contracts in an Optimizing Model of the Business Cycle’20. Jang-Ok Cho, Thomas F. Cooley and Louis Phaneuf (1997), ‘The Welfare Cost of Nominal Wage Contracting’BDynamics and Persistence21. Guillermo A. Calvo (1983), ‘Staggered Prices in a Utility-Maximizing Framework’22. Tack Yun (1996), ‘Nominal Price Rigidity, Money Supply Endogeneity, and Business Cycles’23. Torben M. Andersen (1998), ‘Persistency in Sticky Price Models’24. Olivier Jeanne (1998), ‘Generating Real Persistent Effects of Monetary Shocks: How Much Nominal Rigidity Do We Really Need?’25. Jean-Pascal Bénassy (2003), ‘Output and Inflation Dynamics under Price and Wage Staggering: Analytical Results’26. Lawrence J. Christiano, Martin Eichenbaum and Charles L. Evans (2005), ‘Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy’Name Index