Inflation, Institutions and Information

Macroeconomics has undergone profound changes since the Keynesian consensus broke down in the mid-1960s. Axel Leijonhuvfvud belonged to that core group of distinguished macroeconomists who wrought the changes that brought back the classical questions to the subject: microfoundations, money, markets, institutions, information and transition dynamics. He fashioned a whole series of conceptual innovations that have become part of the folklore of monetary macroeconomics.;This collection of essays by distinguished colleagues and former students pay homage to Leijonhuvfvud. Issues that have featured at the centre of his research for over 30 years are discussed by the contributors. History of thought, philosophy of science and transition dynamics, in addition to the more central issues of money, inflation, monetary regimes, information, institutions, microfoundations, increasing returns and stabilizing speculation are some of the central topic discussed, empirically and theoretically, in these essays.;Kumaraswamy Vellupillai is the author of "Business Cycles", "Nonlinear and Multisectoral Macrodynamics" and "Nonleantities, Disequilibria and Simulation".