Exploring Macroeconomics

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Exploring Macroeconomics

Exploring Macroeconomics Pdf/ePub eBook Author: ,
Editor: SAGE Publications
ISBN: 1544337701
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Exploring Macroeconomics by , Summary

The excitement of learning economics for the first time. The experience of a lifetime of teaching it. The Eighth Edition of Exploring Macroeconomics captures the excitement of learning macroeconomics for the first time through a lively and encouraging narrative that connects macroeconomics to the world in a way that is familiar to students. Author Robert L. Sexton draws on over 25 years of teaching experience to capture students’ attention, focusing on core concepts and expertly weaving in examples from current events and popular culture to make even classic economic principles modern and relatable. The text sticks to the basics and applies a thoughtful learning design, segmenting its presentation into brief, visually appealing, self-contained sections that are easier for students to digest and retain compared to sprawling text. Thoughtfully placed section quizzes, interactive summaries, and problem sets help students check their comprehension at regular intervals and develop the critical thinking skills that will allow them to "think like economists." Combined with a complete teaching and learning package, Exploring Macroeconomics is sure to help you ignite your students’ passion for the field and reveal its practical application in the world around them. A Complete Teaching & Learning Package Easy LMS Import SAGE coursepacks for instructors makes it easy to import our quality instructor and student resource content into your school’s learning management system (LMS). Learn more. Online Resources SAGE edge for students, the companion website specifically designed for this text, offers a robust online environment with the learning tools and resources students need to succeed. Learn more.

Alternative Approaches in Macroeconomics

Alternative Approaches in Macroeconomics Pdf/ePub eBook Author: Philip Arestis
Editor: Springer
ISBN: 3319696769
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Alternative Approaches in Macroeconomics by Philip Arestis Summary

This book honours Professor John McCombie’s retirement by exploring a variety of themes, theories and debates in non-orthodox macroeconomics. With contributions from leading scholars, the book covers diverse ground in economic thought, policy, empirical work and modelling. It demonstrates ongoing presumptions and asks probing questions of topical questions from the increase of income equality to the international variation of productivity investment. This collection will appeal to academics and students with an interest in the history of macroeconomic thinking.

Modern Monetary Theory and European Macroeconomics

Modern Monetary Theory and European Macroeconomics Pdf/ePub eBook Author: Dirk H. Ehnts
Editor: Routledge
ISBN: 1317224795
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Modern Monetary Theory and European Macroeconomics by Dirk H. Ehnts Summary

This book provides a new methodological approach to money and macroeconomics. Realizing that the abstract equilibrium models lacked descriptions of fundamental issues of a modern monetary economy, the focus of this book lies on the (stylized) balance sheets of the main actors. Money, after all, is born on the balance sheets of the central bank or commercial bank. While households and firms hold accounts at banks with deposits, banks hold an account at the central bank where deposits are called reserves. The book aims to explain how the two monetary circuits – central bank deposits and bank deposits – are intertwined. It is also shown how government spending injects money into the economy. Modern Monetary Theory and European Macroeconomics covers both the general case and then the Eurozone specifically. A very simple macroeconomic model follows which explains the major accounting identities of macroeconomics. Using this new methodology, the Eurozone crisis is examined from a fresh perspective. It turns out that not government debt but the stagnation of private sector debt was the major economic problem and that cuts in government spending worsened the economic situation. The concluding chapters discuss what a solution to the current problems of the Eurozone must look like, with scenarios that examine a future with and without a euro. This book provides a detailed balance sheet view of monetary and fiscal operations, with a focus on the Eurozone economy. Students, policy-makers and financial market actors will learn to assess the institutional processes that underpin a modern monetary economy, in times of boom and in times of bust.

Exploring Microeconomics

Exploring Microeconomics Pdf/ePub eBook Author: Robert L. Sexton
Editor: SAGE Publications
ISBN: 1544339437
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Exploring Microeconomics by Robert L. Sexton Summary

The excitement of learning economics for the first time. The experience of a lifetime of teaching it. The Eighth Edition of Exploring Microeconomics captures the excitement of learning microeconomics for the first time through a lively and encouraging narrative that connects microeconomics to the world in a way that is familiar to students. Author Robert L. Sexton draws on over 25 years of teaching experience to capture students’ attention, focusing on core concepts and expertly weaving in examples from current events and popular culture to make even classic economic principles modern and relatable. The text sticks to the basics and applies a thoughtful learning design, segmenting its presentation into brief, visually appealing, self-contained sections that are easier for students to digest and retain compared to sprawling text. Thoughtfully placed section quizzes, interactive summaries, and problem sets help students check their comprehension at regular intervals and develop the critical thinking skills that will allow them to "think like economists." Combined with a complete teaching and learning package, Exploring Microeconomics is sure to help you ignite your students’ passion for the field and reveal its practical application in the world around them. A Complete Teaching & Learning Package Easy LMS Import SAGE coursepacks for instructors makes it easy to import our quality instructor and student resource content into your school’s learning management system (LMS). Learn more. Online Resources SAGE edge for students, the companion website specifically designed for this text, offers a robust online environment with the learning tools and resources students need to succeed. Learn more.

Modern Money Theory

Modern Money Theory Pdf/ePub eBook Author: L. Randall Wray
Editor: Springer
ISBN: 1137265140
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Modern Money Theory by L. Randall Wray Summary

In a challenge to conventional views on modern monetary and fiscal policy, this book presents a coherent analysis of how money is created, how it functions in global exchange rate regimes, and how the mystification of the nature of money has constrained governments, and prevented states from acting in the public interest.

The Macroeconomics of Corruption

The Macroeconomics of Corruption Pdf/ePub eBook Author: Maksym Ivanyna,Alex Mourmouras,Peter Rangazas
Editor: Springer
ISBN: 3319686666
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The Macroeconomics of Corruption by Maksym Ivanyna,Alex Mourmouras,Peter Rangazas Summary

This textbook examines corruption through a macroeconomic lens, exploring the relationship between corruption, fiscal policy, and political economy. The book merges macroeconomic growth models with elements of political economic theory to address important applied topics such as income inequality within and across countries, growth slowdowns, and fiscal crises. Most of the basic ideas are illustrated using a two-period model of government investment that captures the future cost of policies that favor the present (Chapters 2-3). The more subtle and advanced issues are illustrated and, in some cases, quantified, using the overlapping-generations model of economic growth (Chapters 4-6). The models used to illustrate the mechanisms of economic growth are extended to incorporate politics and the behavior of public officials (Chapters 3, 5-7). The text concludes with a thorough discussion of policy reforms designed to address the issues discussed in earlier chapters. Intended for students familiar with intermediate-level economics, the book contains a technical appendix, including detailed explanations of each model, end-of-chapter questions and problems, and a complete solutions manual, making it ideal for self-study. Offering a unified explanation for the causes and consequences of government failure, fiscal crisis, and the needed policy reforms, this text is appropriate for advanced undergraduate and beginning graduate courses in macroeconomics, political economy, and public policy.

Advanced Macroeconomics: An Introduction For Undergraduates

Advanced Macroeconomics: An Introduction For Undergraduates Pdf/ePub eBook Author: Angus Chi Ho Chu
Editor: World Scientific
ISBN: 1786349140
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Advanced Macroeconomics: An Introduction For Undergraduates by Angus Chi Ho Chu Summary

Foreword by Guido Cozzi (University of St. Gallen, Switzerland)Advanced Macroeconomics covers selected topics in advanced macroeconomics at undergraduate level and bridges the gap between intermediate macroeconomics for undergraduates and advanced macroeconomics for postgraduates. By building on materials in intermediate macroeconomics textbooks and covering the mathematics of some classic dynamic general-equilibrium models, this book will give undergraduate students a firm appreciation of modern developments in macroeconomics. This book examines the implications of government policies (such as fiscal policy, monetary policy and innovation policy) and devotes several chapters to economic growth, covering the ideas for which Paul Romer was awarded the Nobel Memorial Prize in Economic Sciences in 2018.Dynamic general equilibrium is the foundation of modern macroeconomics. Chapter 1 begins with a simple static model to demonstrate the concept of general equilibrium. Chapters 2 to 4 cover the neoclassical growth model, exploring the effects of exogenous changes in technology: an important source of business cycle fluctuations. Chapters 5 to 7 use the neoclassical growth model to explore the effects of fiscal policy instruments such as government spending, labour income tax and capital income tax. Chapter 8 develops a simple New Keynesian model to analyse the effects of monetary policy. Chapter 9 begins the analysis of economic growth by reviewing the Solow growth model. Chapters 10 to 12 present the Ramsey model and introduce different market structures to the model to lay down the foundation of the Romer model. Chapter 13 incorporates an R&D sector into the Ramsey model with a monopolistically competitive market structure to develop the Romer model of endogenous technological change. Chapters 14 to 15 examine the implications of the Romer model. Chapter 16 concludes this book by presenting the Schumpeterian growth model and examining its different implications from the Romer model.

Inflation in China

Inflation in China Pdf/ePub eBook Author: Chengsi Zhang
Editor: Routledge
ISBN: 1000166120
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Inflation in China by Chengsi Zhang Summary

Inflation plays a central role in macroeconomic and financial policy regulation, and its dynamic formation has gradually become a popular research topic in this field. This book comprehensively studies the dynamic mechanism of inflation in China from the perspective of New Keynesian economics. By combining the dynamic trajectory of price changes since China's reform and opening-up under Deng Xiaoping as well as the underlying economic operating characteristics, the book deploys a multifaceted approach to understand the mechanism of inflation dynamics. The author explores the microfoundations of inflation dynamics, and underlines their importance in the context of modern monetary policy. In particular, he builds upon the traditional New Keynesian Phillips curve to include factors of globalization and financialization within the inflation formation regime of modern China. As the book explores the dynamic mechanism of China's inflation from different perspectives including inflation cycle theory, price index internal conduction, price index chain transmission, capital rotation, and industry inflation mechanisms, international readers will gain a full understanding of China's inflation, monetary policy, and economy.

Macroeconomics in Context

Macroeconomics in Context Pdf/ePub eBook Author: Sebastian Dullien,Neva Goodwin,Jonathan M. Harris,Julie A. Nelson,Brian Roach,Mariano Torras
Editor: Routledge
ISBN: 1317289668
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Macroeconomics in Context by Sebastian Dullien,Neva Goodwin,Jonathan M. Harris,Julie A. Nelson,Brian Roach,Mariano Torras Summary

Macroeconomics in Context: A European Perspective lays out the principles of macroeconomics in a manner that is thorough, up to date, and relevant to students. With a clear presentation of economic theory throughout, this latest addition to the bestselling "In Context" set of textbooks is written with a specific focus on European data, institutions, and historical events, offering engaging treatment of high-interest topics, including sustainability, Brexit, the euro crisis, and rising inequality. Policy issues are presented in context (historical, institutional, social, political, and ethical), and always with reference to human well-being. This book is divided into four parts, covering the following key issues: The context of economic analysis, including basic macroeconomic statistics and tools; The basics of macroeconomic measurements, including GDP, inflation, and unemployment, as well as alternative measures of well-being, and the particular structures of the European economies; Methods for analyzing monetary and fiscal policy, including an in-depth coverage of the instruments and approaches of the European central bank and some coverage of an open economy; The application of the tools learnt to selected macroeconomic issues, such as the euro crisis, the global financial crisis, public debt, global development, and environmental sustainability. Far more than any other existing macroeconomic textbook, this book combines real-world relevance of the topics covered with a strong focus on European institutions and structures within an approach that explains multiple economic paradigms. This combination helps to raise students’ interest in macroeconomics as well as enhance their understanding of the power and limitation of macroeconomic analysis. Visit http://www.bu.edu/eci/education-materials/textbooks/macroeconomics-in-context-a-european-perspective/ for online resources for both lecturers and students. A video of a panel discussion about the book can be found at https://youtu.be/xjHJrW9WP44.

Handbook of Research Methods and Applications in Empirical Macroeconomics

Handbook of Research Methods and Applications in Empirical Macroeconomics Pdf/ePub eBook Author: Nigar Hashimzade,Michael A. Thornton
Editor: Edward Elgar Publishing
ISBN: 0857931024
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Handbook of Research Methods and Applications in Empirical Macroeconomics by Nigar Hashimzade,Michael A. Thornton Summary

This comprehensive Handbook presents the current state of art in the theory and methodology of macroeconomic data analysis. It is intended as a reference for graduate students and researchers interested in exploring new methodologies, but can also be employed as a graduate text. The Handbook concentrates on the most important issues, models and techniques for research in macroeconomics, and highlights the core methodologies and their empirical application in an accessible manner. Each chapter is largely self-contained, whilst the comprehensive introduction provides an overview of the key statistical concepts and methods. All of the chapters include the essential references for each topic and provide a sound guide for further reading. Topics covered include unit roots, non-linearities and structural breaks, time aggregation, forecasting, the Kalman filter, generalised method of moments, maximum likelihood and Bayesian estimation, vector autoregressive, dynamic stochastic general equilibrium and dynamic panel models. Presenting the most important models and techniques for empirical research, this Handbook will appeal to students, researchers and academics working in empirical macro and econometrics.

An Introduction to Macroeconomics

An Introduction to Macroeconomics Pdf/ePub eBook Author: Louis-Philippe Rochon,Sergio Rossi
Editor: Edward Elgar Publishing
ISBN: 1789901154
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An Introduction to Macroeconomics by Louis-Philippe Rochon,Sergio Rossi Summary

The second edition of this important textbook introduces students to the fundamental ideas of heterodox economics. It is written in a clear way by top heterodox scholars. This introductory book offers not only a critique of the dominant approach to economics, but also presents a positive and constructive alternative. Students interested in an explanation of the real world will find the heterodox approach not only satisfying, but ultimately better able to explain a money-using economy prone to periods of instability and crises.

Progressive Post-Keynesian Economics

Progressive Post-Keynesian Economics Pdf/ePub eBook Author: Jesper Jespersen,Finn Olesen
Editor: Edward Elgar Publishing
ISBN: 1788119886
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Progressive Post-Keynesian Economics by Jesper Jespersen,Finn Olesen Summary

This book is devoted to the progression of Post-Keynesian economics, taking stock of the previous 10 years of persistent imbalances in many dimensions of macroeconomic ‘reality’. This has given inspiration to Post-Keynesian scholars to make innovative contributions in areas like methodology, macroeconomic modelling and teaching. One challenge discussed in several chapters is how to model a complex macro-system where microeconomic uncertainty is increasing? This aspect is elaborated in a number of contributions which focus on the role of the financial sector and financialization for macroeconomic disruptions. Additional chapters deal with teaching and the use of case-studies for a better understanding of the real world economy.

Rethinking Macroeconomics for Sustainability

Rethinking Macroeconomics for Sustainability Pdf/ePub eBook Author: Alejandro Nadal
Editor: Bloomsbury Publishing
ISBN: 1848135076
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Rethinking Macroeconomics for Sustainability by Alejandro Nadal Summary

Macroeconomic policies have devastating effects on the environment. They shape the economic processes that drive deforestation, soil erosion, the exhaustion of living marine resources, greenhouse gas emissions, and the massive loss of biodiversity. Despite this, the vital connection between macroeconomic policies and the environment has thus far received little attention by the academic and the policy-making communities. Rethinking Macroeconomics for Sustainability reveals the linkages between monetary, financial and fiscal policies, and the environmental degradation that threatens the planet's biosphere. In doing so, it examines the complex lines of transmission from policy priorities all the way down to the effects at the local level, as well as analyzing the deep-seated relationship between macroeconomic policy models and their impacts on growth, peoples' livelihoods and the environment. Besides exploring the relation between macroeconomic and climate change policies, as well as efforts to 'green' the world economy, the book considers five key case studies in Latin American economies. Going beyond this, it also sets out specific policy recommendations, both at the national and international levels. All this is based on the incontrovertible premise that macroeconomic policies must to be redesigned in order to attain long-term sustainability objectives, and that monetary and fiscal policies are as important for environmental stewardship as they are for growth and prosperity.

Macroeconomics from the Bottom-up

Macroeconomics from the Bottom-up Pdf/ePub eBook Author: Domenico Delli Gatti,Saul Desiderio,Edoardo Gaffeo,Pasquale Cirillo,Mauro Gallegati
Editor: Springer Science & Business Media
ISBN: 9788847019713
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Macroeconomics from the Bottom-up by Domenico Delli Gatti,Saul Desiderio,Edoardo Gaffeo,Pasquale Cirillo,Mauro Gallegati Summary

This book arose from our conviction that the NNS-DSGE approach to the analysis of aggregate market outcomes is fundamentally flawed. The practice of overcoming the SMD result by recurring to a fictitious RA leads to insurmountable methodological problems and lies at the root of DSGE models’ failure to satisfactorily explain real world features, like exchange rate and banking crises, bubbles and herding in financial markets, swings in the sentiment of consumers and entrepreneurs, asymmetries and persistence in aggregate variables, and so on. At odds with this view, our critique rests on the premise that any modern macroeconomy should be modeled instead as a complex system of heterogeneous interacting individuals, acting adaptively and autonomously according to simple and empirically validated rules of thumb. We call our proposed approach Bottom-up Adaptive Macroeconomics (BAM). The reason why we claim that the contents of this book can be inscribed in the realm of macroeconomics is threefold: i) We are looking for a framework that helps us to think coherently about the interrelationships among two or more markets. In what follows, in particular, three markets will be considered: the markets for goods, labor and loanable funds. In this respect, real time matters: what happens in one market depends on what has happened, on what is happening, or on what will happen in other markets. This implies that intertemporal coordination issues cannot be ignored. ii) Eventually, it’s all about prices and quantities. However, we are mostly interested in aggregate prices and quantities, that is indexes built from the dispersed outcomes of the decentralized transactions of a large population of heterogeneous individuals. Each individual acts purposefully, but she knows anything about the levels of prices and quantities which clear markets in the aggregate. iii) In the hope of being allowed to purport scientific claims, BAM relies on the assumption that individual purposeful behaviours aggregates into regularities. Macro behaviour, however, can depart radically from what the individual units are trying to accomplish. It is in this sense that aggregate outcomes emerge from individual actions and interactions.

The Responsible Economy

The Responsible Economy Pdf/ePub eBook Author: Jefferson Frank
Editor: Routledge
ISBN: 1317594150
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The Responsible Economy by Jefferson Frank Summary

After the ‘financial crisis’ and ‘Great Recession’, some have called for replacing standard economic theory by heterodox models based upon behavioural approaches. The Responsible Economy argues that there is nothing wrong with economic theory. Instead, the problem has been a ‘devil’s pact’ of simplistic pro-market economics combined with simplistic Keynesian monetary policy. This book revisits the fundamental theorems in economics that state the conditions for markets to achieve efficiency. It has long been known that there are limitations of markets in dealing with externalities, increasing returns to scale and monopoly. The role of information in the economy was developed in economic theory in the 1970s onwards and in a world of imperfect and asymmetric information, markets perform poorly. Managers of firms engage in short-termism, take on excessive risk and misstate their own and their firm’s performance. While finance theory makes clear that much of the activity in the financial services sector is of no economic value and represents wasteful ‘financial engineering’. In this real world, it is economically inefficient for firms to maximise shareholder value. On the macroeconomics side, monetary expansion cannot be an effective substitute for addressing real problems of infrastructure and education investment. This book maintains that markets work best if individuals and firms behave ethically and responsibly. Employment should be a long-term relationship; firms should pay living wages, produce good products at a fair price, and pay their share of taxes. Where these standards don’t hold, governments should not try to micromanage through regulation, but set up simple and straightforward policies.

OCR A Level Economics (4th edition)

OCR A Level Economics (4th edition) Pdf/ePub eBook Author: Peter Smith
Editor: Hodder Education
ISBN: 151045988X
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OCR A Level Economics (4th edition) by Peter Smith Summary

With its closely aligned content and structure, this textbook will equip your students for the refreshed OCR A-level and AS Economics specifications. - All new practice questions at the end of each chapter, featuring multiple choice, stimulus and essay questions - New knowledge check question feature, testing student understanding throughout - New case studies, facts and figures and practical exercises reflecting recent economic developments - Charts and graphs to give students a strong grounding in economic theory and strengthen their skills in applying those concepts at A-level - Manageable learning objectives matched to the specification and summaries of the key findings at the end to encourage students to take control of their study We are seeking endorsement from OCR for the Student Textbook and Student eTextbook.

Macro-Social Marketing Insights

Macro-Social Marketing Insights Pdf/ePub eBook Author: Ann-Marie Kennedy
Editor: Routledge
ISBN: 0429839294
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Macro-Social Marketing Insights by Ann-Marie Kennedy Summary

Macro-social marketing is an approach to solving wicked problems. Wicked problems include obesity, environmental degradation, smoking cessation, fast fashion, gambling, and drug and alcohol abuse. As such, wicked problems are those problems that are so complex and multifaceted, it is difficult to define the exact problem, its contributing factors, and paths to a solution. Increasingly, governments, NGOs, and community groups are seeking to solve these types of problems. In doing so, the issues with pursuing macro-level change are beginning to emerge. Issues stem from the interconnected nature of stakeholders involved with a wicked problem—where one change may create a negative ripple effect of both intended and unintended consequences. Macro-social marketing, then, provides a holistic and systemic approach to both studying and solving wicked problems. Within the chapters of this book, macro-social marketing approaches to analysing and defining wicked problems, to identifying stakeholders and potential ripple effects, and to implementing macro-level change are presented. In this emerging area of academia, the theories, models, and approaches outlined in this book are cutting edge and provide a critical approach from top researchers in the area. Both practical and theoretical aspects are presented as well as caveats on such societal and/or country-wide change. A must-have for social marketing academics and those interested in macro-level change at a practical or theoretical level.

The Palgrave Handbook of Development Economics

The Palgrave Handbook of Development Economics Pdf/ePub eBook Author: Machiko Nissanke,José Antonio Ocampo
Editor: Springer
ISBN: 3030140008
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The Palgrave Handbook of Development Economics by Machiko Nissanke,José Antonio Ocampo Summary

This Handbook responds to the needs and aspirations of current and future generations of development economists by providing critical reference material alongside or in relation to mainstream propositions. Despite the potential of globalisation in accelerating growth and development in low and middle-income countries through the spread of technology, knowledge and information, its current practice in many parts of the world has led to processes that are socially, economically and politically and ecologically unsustainable. It is critical for development economists to engage with the pivotal question of how to change the nature and course of globalisation to make it work for inclusive and sustainable development. Applying a critical and pluralistic approach, the chapters in this Handbook examine economics of development paths under globalisation, focusing on sustainable development in social, environmental, institutional and political economy dimensions. It aims at advancing the frontier of development economics in these key aspects and generating more refined policy perspectives. It is critically reflective in examining effects of globalisation on development paths to date, and in terms of methodological and analytical approaches, as well as forward-thinking in policy perspectives with a view to laying a foundation for sustainable development.

The Macroeconomics of Open Economies Under Labour Mobility

The Macroeconomics of Open Economies Under Labour Mobility Pdf/ePub eBook Author: George M Agiomirgianakis
Editor: Routledge
ISBN: 042980931X
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The Macroeconomics of Open Economies Under Labour Mobility by George M Agiomirgianakis Summary

First published in 1999, this study recognises the importance of international labour mobility for modern economics. This is in large part due to its effects on the size, age structure and skills of the labour force, the human flow between countries and the expected rise in scale as a result of income differentials, demographic pressures and differential labour-force growth rates along with developments in transport and communications. These migrations are increasingly volatile and unpredictable, whilst being concentrated in regions like Australia, the USA, Sub-Saharan Africa and Western Europe. Given the extensive literature on the microeconomic view, George M. Agiomirgianakis aims to extend the debate on open economy macroeconomics through an exploration of international labour mobilities and their effects on open economies with flexible exchange rates.