Time and Money: The Macroeconomics of Capital Structure

Presents an argument that the troubles which characterise modern capital-intensive economies, particularly the episodes of boom and bust, may be analysed with the aid of a capital-based macroeconomics. This work focuses on the intertemporal structure of capital, an area that has been neglected in fa [...]
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Presents an argument that the troubles which characterise modern capital-intensive economies, particularly the episodes of boom and bust, may be analysed with the aid of a capital-based macroeconomics. This work focuses on the intertemporal structure of capital, an area that has been neglected in favour of labour and money-based macroeconomics.