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Since the 1950s, macroeconomics has been transformed. This book is about one of the most important aspects of that transformation: the attempt, through the end of the twenty-first century and beyond, to construct macroeconomic models rigorously derived from models of individual firms and households.

In the mid-nineteenth century the business cycle was increasingly recognised as a recurrent phenomenon. This edition contains key texts from the range of literature in the field.

In the mid-nineteenth century the business cycle was increasingly recognised as a recurrent phenomenon. This edition contains key texts from the range of literature in the field.

In the mid-nineteenth century the business cycle was increasingly recognised as a recurrent phenomenon. This edition contains key texts from the range of literature in the field.

In the mid-nineteenth century the business cycle was increasingly recognised as a recurrent phenomenon. This edition contains key texts from the range of literature in the field.

In the mid-nineteenth century the business cycle was increasingly recognised as a recurrent phenomenon. This edition contains key texts from the range of literature in the field.

In the mid-nineteenth century the business cycle was increasingly recognised as a recurrent phenomenon. This edition contains key texts from the range of literature in the field.

In the mid-nineteenth century the business cycle was increasingly recognised as a recurrent phenomenon. This edition contains key texts from the range of literature in the field.

Since the 1950s, macroeconomics has been transformed. This book is about one of the most important aspects of that transformation: the attempt, through the end of the twenty-first century and beyond, to construct macroeconomic models rigorously derived from models of individual firms and households.