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Macroeconomic Policy: Demystifying Monetary and Fiscal Policy (Springer Texts in Business and Economics)
by Farrokh K. LangdanaThis book is an applications-oriented text designed for individuals who desire a hands-on approach to analyzing the effects of fiscal and monetary policies. Significantly updated to provide an understanding of the post-financial crisis economy, the third edition covers the subprime crisis in detail, discussing monetary policies enacted in its wake, such as quantitative easing, tapering, carry trades, CMOs, and monetization. Even more globally oriented than previous editions, this volume links the Great Recession and US Monetary Policy to global hot capital flows and currency pegs. This edition also revisits the Eurozone in significant detail; discussing its history, its macroeconomic design challenges, and its present imperiled state, in the context of global macropolicy. Finally, this volume analyzes the "China syndrome" and explores the effects of slower trend growth in China on the rest of the world. India, with its different—almost supply-side—approach to macropolicy is also studied in detail. The third edition contains several brand-new cases and media articles that are carefully positioned to relate explicitly to theory, and to look ahead to and preempt global macro situations and polices in the years to come. MBA students and Executive MBA students who appreciate the importance of monetary and fiscal analysis will find this text to be right on target. Financial analysts and individual investors who need to strip away economic myths and jargon and systematically examine and understand the effects of macro policies on variables such as inflation, output, employment and interest rates, will also find the book extremely useful.
Macroeconomic Policy: Inflation, Wealth and the Exchange Rate (Routledge Library Editions: Macroeconomics #8)
by David Vines Nicos Christodoulakis Martin Weale Andrew Blake James E MeadeThis analysis of macroeconomic policy, originally published in 1989, argues that key government objectives, such as reduced inflation, decreased unemployment and an adequate level of national saving can be achieved only by employing both monetary and fiscal policies, in conjunction with supply-side policies expressly designed to improve the workings of the labour market. Part 1 is a comparative analysis showing the effects of monetary and fiscal policy on the economy. Real-wage rigidity in the labour market is shown to have important consequences for the working of both types of policy, because it conditions the economy’s response to tax changes. Part 2 presents an econometric model which combines consistent stock-flow accounts with a full range of expectational effects. Part 3 presents an innovative technique for solving rational expectations models with the need for arbitary terminal conditions.
Macroeconomic Principles and Problems: A Pluralist Introduction (Routledge Pluralist Introductions to Economics)
by Geoffrey SchneiderMacroeconomic Principles and Problems: A Pluralist Introduction offers a comprehensive overview of the major topics in modern macroeconomics, from mainstream and heterodox perspectives. This textbook examines the key macroeconomic problems and policy debates facing contemporary society, including economic crises, sustainability, fiscal and monetary policy, government debt, state-led vs. market-led approaches for growth, and unregulated trade vs. protectionism. Written in an engaging style and focused on real-world examples, this textbook brings macroeconomics to life. Multiple examples of how each economic model works, coupled with critical analysis of the assumptions behind them, enable students to develop a sophisticated understanding of the material. Digital supplements are also available for students and instructors. Macroeconomic Principles and Problems offers the most contemporary and complete package for any pluralist macroeconomics principles class.
Macroeconomic Responses to Terms-of-Trade Shocks: A Framework for Policy Analysis for the Argentine Economy
by Pelin BerkmenA report from the International Monetary Fund.
Macroeconomic Responses to the COVID-19 Pandemic: Policies from Southeast Europe
by Neven Vidaković Ivan LovrinovićThis book examines economic policies utilized within Southeast Europe in response to the COVID-19 pandemic. Covering countries both within and outside the European Union, the human and economic cost of the pandemic is calculated using macroeconomic models from a short and longer term perspective. The economic policies used during the pandemic are analyzed, alongside crisis management approaches, to highlight the effectiveness of monetary policy, fiscal policies and potential future economic solutions for the post COVID-19 period. This book aims to provide policy recommendations based on findings from Southeast Europe. It is relevant to researchers and policymakers involved in economic policy and the political economy, as well as anyone interested in the responses to the COVID-19 pandemic.
Macroeconomic Survey Expectations (Palgrave Texts in Econometrics)
by Michael P. ClementsWhy should we be interested in macroeconomic survey expectations? This important book offers an in-depth treatment of this question from a point of view not covered in existing works on time-series econometrics and forecasting. Clements presents the nature of survey data, addresses some of the difficulties posed by the way in which survey expectations are elicited and considers the evaluation of point predictions and probability distributions. He outlines how, from a behavioural perspective, surveys offer insight into how economic agents form their expectations.
Macroeconomic Systems (Routledge Library Editions: Macroeconomics)
by Krish Bhaskar David F. MurrayThis volume, originally published in 1976, creates a basis from which the specialist topics of macroeconomics can be approached. The first section deals exclusively with a simple classical and Keynesian model within a single common framework to facilitate easy comparison. Although simple models, they provide a sound starting point for the more advanced ideas which make up the second part of the book. Recognizing tht one of the crucial purposes of macroeconomics is to provide advice for central government policy makers, the policy implications of the models are discussed.
Macroeconomic Theory and Economic Policy: Essays in Honour of Jean-Paul Fitoussi (Routledge Frontiers Of Political Economy Ser. #Vol. 59)
by K. Vela VelupillaiJean-Paul Fitoussi needs no introduction as one of the world's foremost Macroeconomists of his generation. This celebration of his work includes contributions from Nobel Prize - winning economists Robert W. Clower and Robert Solow as well as Olivier Blanchard and leading economic theorist, Edmond Malinvaud.
Macroeconomic Theory and the Eurozone Crisis (Routledge Studies in the History of Economics)
by Monika Poettinger Alain Alcouffe Maurice BasléThe financial crisis of 2007 required the economics discipline to thoroughly re-evaluate its prevailing theories about economic cycles and economic growth. With a focus on Europe, this volume identifies the latest strands of research on business cycles, monetary theory, the evolution of social policies and public spending, and the institutional context of the European Union. It also considers whether these new ideas could have helped us avoid the crisis, and how they might reshape the current economic paradigm.This book will be of interest to advanced students and researchers in European economics, macroeconomics and economic history.
Macroeconomic Theory: A Dynamic General Equilibrium Approach - Second Edition
by Michael WickensThe definitive graduate textbook on modern macroeconomicsMacroeconomic Theory is the most up-to-date graduate-level macroeconomics textbook available today. This revised second edition emphasizes the general equilibrium character of macroeconomics to explain effects across the whole economy while taking into account recent research in the field. It is the perfect resource for students and researchers seeking coverage of the most current developments in macroeconomics.Michael Wickens lays out the core ideas of modern macroeconomics and its links with finance. He presents the simplest general equilibrium macroeconomic model for a closed economy, and then gradually develops a comprehensive model of the open economy. Every important topic is covered, including growth, business cycles, fiscal policy, taxation and debt finance, current account sustainability, and exchange-rate determination. There is also an up-to-date account of monetary policy through inflation targeting. Wickens addresses the interrelationships between macroeconomics and modern finance and shows how they affect stock, bond, and foreign-exchange markets. In this edition, he also examines issues raised by the most recent financial crisis, and two new chapters explore banks, financial intermediation, and unconventional monetary policy, as well as modern theories of unemployment. There is new material in most other chapters, including macrofinance models and inflation targeting when there are supply shocks. While the mathematics in the book is rigorous, the fundamental concepts presented make the text self-contained and easy to use. Accessible, comprehensive, and wide-ranging, Macroeconomic Theory is the standard book on the subject for students and economists.The most up-to-date graduate macroeconomics textbook available todayGeneral equilibrium macroeconomics and the latest advances covered fully and completelyTwo new chapters investigate banking and monetary policy, and unemploymentAddresses questions raised by the recent financial crisisWeb-based exercises with answersExtensive mathematical appendix for at-a-glance easy referenceThis book has been adopted as a textbook at the following universities:American UniversityBentley CollegeBrandeis UniversityBrigham Young UniversityCalifornia Lutheran UniversityCalifornia State University - SacramentoCardiff UniversityCarleton UniversityColorado CollegeFordham UniversityLondon Metropolitan UniversityNew York UniversityNortheastern UniversityOhio University - Main CampusSan Diego State UniversitySt. Cloud State UniversityState University Of New York - Amherst CampusState University Of New York - Buffalo North CampusTemple University - MainTexas Tech UniversityUniversity of AlbertaUniversity Of Notre DameUniversity Of OttawaUniversity Of PittsburghUniversity Of South Florida - TampaUniversity Of TennesseeUniversity Of Texas At DallasUniversity Of WashingtonUniversity of Western OntarioWesleyan UniversityWestern Nevada Community College
Macroeconomic Theory: A Short Course
by Thomas R. MichlA look at all the key topics in intermediate-level macroeconomic theory with carefully chosen linear versions of the standard models of both the closed and the open economy. It requires no mathematical proficiency beyond high school level algebra, and has been thoroughly tested in the classroom.
Macroeconomic Theory: Fluctuations, Inflation And Growth In Closed And Open Economies
by Fernando de Holanda BarbosaMacroeconomics is the application of economic theory to the study of the economy’s growth, cycle and price-level determination. Macroeconomics takes account of stylized facts observed in the real world and builds theoretical frameworks to explain such facts. Economic growth is a stylized fact of market economies, since England’s nineteenth-century industrial revolution. Until then, poverty was a common good for humanity. Economic growth consists in the persistent, smooth and sustained increase of per-capita income. A market economy shows periods of expanding and contracting economic activity. This phenomenon is the economic cycle. The price of money is the amount of goods bought with one unit of money, in other words, the inverse of the price level. Determination of the price level, or the value of money, is a fascinating subject in a fiat money economy.
Macroeconomic Theory: Fluctuations, Inflation and Growth in Closed and Open Economies (Springer Texts in Business and Economics)
by Fernando de BarbosaMacroeconomics is the application of economic theory to the study of the economy’s growth, cycle and price-level determination. Macroeconomics takes account of stylized facts observed in the real world and builds theoretical frameworks to explain such facts. Economic growth is a stylized fact of market economies, since England’s nineteenth-century industrial revolution. Until then, poverty was a common good for humanity. Economic growth consists in the persistent, smooth and sustained increase of per-capita income. A market economy shows periods of expanding and contracting economic activity. This phenomenon is the economic cycle. The price of money is the amount of goods bought with one unit of money, in other words, the inverse of the price level. Determination of the price level, or the value of money, is a fascinating subject in a fiat money economy. Revised and updated, the second edition introduces a number of new topics, including the New Keynesian IS Curve, Real BusinessCycles, and the Consumption Asset Pricing Model, as well as updated end-of-chapter exercises.
Macroeconomic Variables And Security Prices In India During The Liberalized Period
by Tarak Nath SahuThe liberalization of the Indian economy and consequent strengthening of the relationship between the Indian financial system and the rest of the world has made India more vulnerable to macro issues. This book provides a comprehensive analysis of the dynamic relationship between macroeconomic variables and stock prices in India. A wide range of statistical models are used to estimate and interpret the relationships between Indian stock prices and eleven macroeconomic variables during the liberalized period. While the author finds that the Indian stock market is sensitive to changes in macroeconomic fundamentals in the long run, in the short run only a few macroeconomic variables (such as consumer price index, foreign trade, and exchange rate) affect stock prices. The study also observes that the Indian stock market is approaching informational inefficiency in the long run. Research findings and policy implications discussed here provide insight into other emerging economies as well.
Macroeconomic and Monetary Policy Issues in Indonesia (Routledge Studies in the Growth Economies of Asia)
by Akhand Akhtar HossainFollowing the acquisition of its sovereignty from the Netherlands in 1949, Indonesia experienced serious economic and political problems during the 1950s and 1960s, before entering a three-decade-long period of rapid economic growth. Hard-hit by the financial crisis of the late 1990s, Indonesia undertook a wide range of economic and financial reforms. These reforms served to prepare it well for the 2007-08 global financial crisis, through which Indonesia passed relatively unscathed. Drawing on empirical research, this book presents a comprehensive empirical study on the key macroeconomic relations and monetary policy issues in Indonesia. The book analyses monetary, fiscal and exchange-rate policies, looking at their interactions and impacts on the economy. It demonstrates how important macroeconomic management for monetary and financial stability is to sustained national economic growth and development. Data from the 1970s is compared and contrasted with 1950s data to analyse macroeconomic policies and issues in an historical context. Statistical and econometric techniques are juxtaposed with general empirical results to supplement informative discussion of macroeconomic and monetary developments. This book is a useful contribution to studies on macroeconomics and international development, as well as Southeast Asian studies.
Macroeconomics
by Russell Cooper A. Andrew JohnThis book studies the implications of macroeconomic complementarities for aggregate behavior. The presentation is intended to introduce Ph. D. students into this sub-field of macroeconomics and to serve as a reference for more advanced scholars. The initial sections of the book cover the basic framework of complementarities and provide a discussion of the experimental evidence on the outcome of coordination games. The subsequent sections of the book investigate applications of these ideas for macroeconomics. The topics Professor Cooper explores include: economies with production complementarities, search models, imperfectly competitive product markets, models of timing and delay and the role of government in resolving and creating coordination problems.
Macroeconomics
by R. Glenn Hubbard Anthony O'BrienThe relevance of macroeconomics shown through real-world business examples. The authors of Macroeconomics help foster interest in the discipline’s concepts, and make the key principles of this topic relevant to students’ lives by demonstrating how real businesses use macroeconomics to make decisions every day. With ever-changing US and world economies, the 7th Edition has been updated with the latest developments using new real-world business and policy examples. Regardless of their future career path -- opening an art studio, trading on Wall Street, or bartending at the local pub, students will benefit from understanding the macroeconomic forces behind their work.
Macroeconomics
by David C. ColanderColanders Macroeconomics 11e is specifically designed to help today’s students succeed in the principles of economics course and grasp economics concepts they can apply in their daily lives. <p><p>Colander’s trademark colloquial approach focuses on modern economics, institutions, history, and modeling. Colander presents and applies economic models, but also encourages students to think about model nuances, building their critical thinking skills and applying models to the real world. <p><p>Content in Colander is organized around learning objectives to make it easier for students to understand the material and for instructors to build assignments within Connect. Through Connect and SmartBook, students will find engaging activities, helpful tutorial videos, and learning resources at that moment of need.
Macroeconomics
by William Scarth Jean-Paul Lam N. MankiwThis special edition of Greg Mankiw’s intermediate macroeconomics text takes the same approach that made the parent text a bestseller, with coverage shaped to address fiscal policy, monetary and exchange-rate policy, deficit reduction, and other critical economic issues from the uniquely Canadian perspective. Like Mankiw’s Macroeconomics, the Canadian edition teaches fundamentals with exceptional clarity by relating theoretical concepts to vital issues and policy debates, while illustrating those ideas with examples, cases, and research from Canada and Canadian researches. The new edition is significantly updated, with a streamlined version of Greg’s hallmark approach and powerful new digital learning options.
Macroeconomics
by L. Randall Wray William Mitchell Martin WattsThis groundbreaking new core textbook encourages students to take a more critical approach to the prevalent assumptions around the subject of macroeconomics, by comparing and contrasting heterodox and orthodox approaches to theory and policy. The first such textbook to develop a heterodox model from the ground up, it is based on the principles of Modern Monetary Theory (MMT) as derived from the theories of Keynes, Kalecki, Veblen, Marx, and Minsky, amongst others. The internationally-respected author team offer appropriate fiscal and monetary policy recommendations, explaining how the poor economic performance of most of the wealthy capitalist countries over recent decades could have been avoided, and delivering a well-reasoned practical and philosophical argument for the heterodox MMT approach being advocated. The book is suitable for both introductory and intermediate courses, offering a thorough overview of the basics and valuable historical context, while covering everything needed for more advanced courses. Issues are explained conceptually, with the more technical, mathematical material in chapter appendices, offering greater flexibility of use.
Macroeconomics
by Mankiw N. GregoryMankiw’s Macroeconomics has been the number one book for the intermediate macro course since the publication of the first edition. It maintains that bestselling status by continually bringing the leading edge of macroeconomics theory, research, and policy to the classroom, explaining complex concepts with exceptional clarity. This new edition is no exception, with Greg Mankiw adding emerging macro topics and frontline empirical research studies, while improving the book's already exemplary focus on teaching students to apply the analytical tools of macroeconomics to current events and policies. See what's in the LaunchPad
Macroeconomics
by William Boyes Michael MelvinDiscover the latest thinking of today's economists on important macroeconomic phenomena while developing a solid global understanding of macroeconomic principles with MACROECONOMICS, 9E. This book clearly illustrates the connections between key macroeconomic principles and today's actual business practices using a reader-friendly approach, memorable examples, and unique global emphasis. The latest macroeconomic statistics and developments as well as new coverage of recent events, such as the financial crisis and its global implications, ensure readers are familiar with contemporary applications of concepts. Proven learning tools and accompanying technology help clarify the macroeconomics concepts and applications that are most important for today's career and business success.
Macroeconomics
by Michael ParkinFor two-semester principles of economics courses. <p> An intuitive and grounded approach to economics <p><p> Get students to think like economists using the latest policy and data while incorporating global issues. Macroeconomics, 13th Edition builds on the foundation of the previous edition and retains a thorough and careful presentation of the principles of economics. <p><p>The text emphasizes real-world applications, the development of critical-thinking skills, diagrams renowned for their pedagogy and clarity, and path-breaking technology. <p><p>Recognizing that some students find graphs hard to work with, the author developed the entire art program with the study and review needs of each individual student in mind.
Macroeconomics
by N. Gregory Mankiw William ScarthThis special edition of Greg Mankiw's intermediate macroeconomics textbook takes the same approach that made the parent text a bestseller, but with coverage shaped to address fiscal policy, monetary/exchange-rate policy, deficit reduction, and other critical economic issues from the uniquely Canadian perspective. Like Mankiw's Macroeconomics, the Canadian edition teaches fundamentals by relating theoretical concepts to big issues and policy debates, but illustrates those ideas and discussions with examples and cases from Canada, as well as research by Canadian economists.
Macroeconomics
by N. Gregory MankiwWhen it comes to explaining Macroeconomics theory, research, and policy, there’s no one better than Mankiw. The number one book for the Intermediate Macro course, you’ll find that this text explains complex concepts with exceptional clarity. This new edition covers the economic impact of the Covid19 pandemic.