ABSTRACT
This chapter provides an introduction to the foundations of institutional change and the macroeconomic structures of the different countries included in the book. On the basis of these two areas, it is dedicated to answering the research questions posed in the book. The chapter introduces the main features of the behavior of aggregate demand in order to give an initial overview of the macroeconomic structures detailed in each chapter of the book. There is no single way to approach the phenomenon of the composition of aggregate demand. A common feature of liberalization as institutional deregulation and liberalization as institutional conversion is that they both allow for greater employer discretion in wage determination, personnel management strategies, work processes and hiring and firing. However, liberalization in advanced economies takes place within the existing institutional frameworks.
