New Paradigm in Macroeconomics

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Critics of modern mainstream economics highlight its abstraction and disconnection from real-world economic issues, such as imperfect information and the dynamics of banks and credit markets. This book aims to propose a new economic paradigm that addresses these flaws and accounts for anomalies in existing theories. It rigorously tests this new approach against the macroeconomic realities of Japan, the world's second-largest economy, providing a comprehensive evaluation of its effectiveness in explaining economic phenomena.