In this book on disequilibrium, growth and labor market dynamics we take
predominantly a macroeconomic perspective. We present a working model
that can easily be varied in different directions in order to subsume
innovations in the literature on macroeconomics, old and new, and to
contribute to important currently discussed macroeconomic issues. Our
working model is set up in a way that there is a close relationship
between our presented dynamic models and modern macro econometric models
with disequilibrium both in the labor and the goods markets. One of our
objectives is, therefore, to narrow the gap between theoretical and
applied structural macrodynamic model building. We hope that the book
will be a useful reference for all researchers, academic teachers and
practitioners of macroeconomic and macro econometric model building who
are interested in economic dynamics, independently of whether they use
equilibrium or disequilibrium methods in their own research. We base
this hope on the fact that our approach contains a number of unique
features. The emphasis on the identification and analysis of the basic
feedback mechanisms at work in modern macro economies. A detailed study
of the partial as well as integrated dynamic interaction between these
feedback mechanisms that consti- tute the interdependence of markets and
sectors of the modern macro economy. The rela- tionship between the
macroeconomic framework of our working model and the Walrasian,
Non-Walrasian and New-Keynesian reformulations of macroeconomics.
