Uncertainty Macroeconomic Stability and the Welfare State

<p>This title was first published in 2002: This monograph sets out to model a macroeconomy that is inherently unstable because of qualitative - or Keynesian - uncertainty. By modelling a macroeconomic theory this approach to fixed or sticky prices also investigates the link between uncertainty sticky prices and macro-stability - by suggesting that such prices improve economic activity rather than impeding it.</p>