Macroeconomic Theory by Thomas J. Sargent

Macroeconomic Theory
  • Title : Macroeconomic Theory
  • Author : Thomas J. Sargent
  • Publisher :
  • ISBN Code :
  • Pages : 404
  • Format : Pdf - ePub
  • Language : English
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Summary:

Macroeconomic Theory, in its first edition, was widely adopted for use as a graduate text; this updated and expanded version should find even greater popularity as a text and as a research reference. It has been substantially revised to include three entirely new chapters: The Consumption Function, Government Debt and Taxes, and Dynamic Optimal Taxation. Significant additions have been made to three of the original chapters dealing with difference equations, stochastic difference equations, and investment under uncertainty.Key Features* This book has been substantially revised to include three entirely new chapters on consumption, government debt and taxes, and dynamic optimal taxation* Significant additions have been made to three of the original chapters dealing with difference equations, stochastic difference equations, and investment under uncertainty


Macroeconomic Measurement Versus Macroeconomic Theory by Merijn Knibbe

Macroeconomic Measurement Versus Macroeconomic Theory
  • Title : Macroeconomic Measurement Versus Macroeconomic Theory
  • Author : Merijn Knibbe
  • Publisher : Routledge
  • ISBN Code : 1351136682
  • Pages : 264
  • Format : Pdf - ePub
  • Language : English
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Summary:

Ideally, scientific theory and scientific measurement should develop in tandem, but in recent years this has not been the case in economics. There used to be a time when leading economists, or their students, established or led statistical offices and took care that the measurements were consistent with the theory (and vice versa). Not anymore. Macroeconomic theorists and macroeconomic statisticians do not even speak the same language any longer. They do use the same words, such as ‘consumption’, ‘investments’ or ‘unemployment’ but the meanings can often be different. This book maps the differences between macroeconomic theory and measurement and explores them in some detail while also tracking their intellectual, historical and, in some cases, ideological origins. It also explores the possible policy implications. In doing so, the book draws on two separate strands of literature which are seldom used in unison: macro-statistical manuals and theoretical macro-papers. By doing so, the book contributes to the effort to bridge the gap between them without compromising on the idea that a meaningful science of economics should, in the end, be based upon individual people and households and their social and cultural embedding instead of a ‘representative consumer’, or Robinson Crusoe figure. This work is essential reading for students, economists, statisticians, and professionals.


Macroeconomic Theory: A Short Course by Thomas R. Michl

Macroeconomic Theory: A Short Course
  • Title : Macroeconomic Theory: A Short Course
  • Author : Thomas R. Michl
  • Publisher : Routledge
  • ISBN Code : 1317465776
  • Pages : 284
  • Format : Pdf - ePub
  • Language : English
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Summary:

A 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 by Volker Böhm

Macroeconomic Theory
  • Title : Macroeconomic Theory
  • Author : Volker Böhm
  • Publisher : Springer
  • ISBN Code : 3319601490
  • Pages : 423
  • Format : Pdf - ePub
  • Language : English
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Summary:

This textbook offers a unique approach to macroeconomic theory built on microeconomic foundations of monetary macroeconomics within a unified framework of an intertemporal general equilibrium model extended to a sequential and dynamic analysis. It investigates the implications of expectations and of stationary fiscal policies on allocations, on the quantity of money, and on the dynamic evolution of the economy with and without noise. The text contrasts and compares the two main competing approaches in macroeconomics within the same intertemporal model of a closed monetary economy: the one postulating full price flexibility to guarantee equilibrium in all markets at all times under perfect foresight or rational expectations, versus the so called disequilibrium approach where trading occurs at non- market-clearing prices and wages when these adjust sluggishly from period to period in response to market disequilibrium signals.


Recursive Macroeconomic Theory by Lars Ljungqvist,Thomas J. Sargent

Recursive Macroeconomic Theory
  • Title : Recursive Macroeconomic Theory
  • Author : Lars Ljungqvist,Thomas J. Sargent
  • Publisher : MIT Press
  • ISBN Code : 9780262122740
  • Pages : 1082
  • Format : Pdf - ePub
  • Language : English
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Summary:

A significant new edition of a text that offers both tools and sample applications; extensive revisions and seven new chapters improve and expand upon the original treatment.


Macroeconomic Theory and Stabilization Policy by Willem H. Buiter

Macroeconomic Theory and Stabilization Policy
  • Title : Macroeconomic Theory and Stabilization Policy
  • Author : Willem H. Buiter
  • Publisher : Manchester University Press
  • ISBN Code : 9780719029929
  • Pages : 377
  • Format : Pdf - ePub
  • Language : English
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Summary:


Introduction to Dynamic Macroeconomic Theory by George T. McCandless,Neil Wallace

Introduction to Dynamic Macroeconomic Theory
  • Title : Introduction to Dynamic Macroeconomic Theory
  • Author : George T. McCandless,Neil Wallace
  • Publisher : Harvard University Press
  • ISBN Code : 9780674461116
  • Pages : 372
  • Format : Pdf - ePub
  • Language : English
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Summary:

Economies are constantly in flux, and economists have long sought reliable means of analyzing their dynamic properties. This book provides a succinct and accessible exposition of modern dynamic (or intertemporal) macroeconomics. The authors use a microeconomics-based general equilibrium framework, specifically the overlapping generations model, which assumes that in every period there are two generations which overlap. This model allows the authors to fully describe economies over time and to employ traditional welfare analysis to judge the effects of various policies. By choosing to keep the mathematical level simple and to use the same modeling framework throughout, the authors are able to address many subtle economic issues. They analyze savings, social security systems, the determination of interest rates and asset prices for different types of assets, Ricardian equivalence, business cycles, chaos theory, investment, growth, and a variety of monetary phenomena. Introduction to Dynamic Macroeconomic Theory will become a classic of economic exposition and a standard teaching and reference tool for intertemporal macroeconomics and the overlapping generations model. The writing is exceptionally clear. Each result is illustrated with analytical derivations, graphically, and by worked out examples. Exercises, which are strategically placed, are an integral part of the book.


The Evolution of Macroeconomic Theory and Policy by Kamran Dadkhah

The Evolution of Macroeconomic Theory and Policy
  • Title : The Evolution of Macroeconomic Theory and Policy
  • Author : Kamran Dadkhah
  • Publisher : Springer Science & Business Media
  • ISBN Code : 9783540770084
  • Pages : 269
  • Format : Pdf - ePub
  • Language : English
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Summary:

The Great Depression of the 1930s gave birth to a branch of economics christened macroeconomics. This highly readable book presents an unconventional and timely perspective on macroeconomics – the interplay of theory and policy in a historical context.


Contemporary Macroeconomic Theory and Policy by Raghbendra Jha

Contemporary Macroeconomic Theory and Policy
  • Title : Contemporary Macroeconomic Theory and Policy
  • Author : Raghbendra Jha
  • Publisher : New Age International
  • ISBN Code : 9788122401455
  • Pages : 417
  • Format : Pdf - ePub
  • Language : English
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Summary:

This Book Is An Exhaustive Study Of Current Macroeconomic Theory. It Starts From The First Principles Of Macroeconomics In Part I And Develops The Orthodox Keynesian Approach With Fixed And Flexible Prices In Part Ii. In Part Iii The Author Discusses The Modem Theories Of Inflation And Unemployment. Among The Topics Covered Are Phillips Curves And Natural Rate Of Unemployment, The Accelerationist Controversy, Rational Expectations, Staggered Wage Setting And New Classical Macroeconomics.In Part Iv The Theoretical Underpinnings Of Key Empirical Macro Relations Such As The Consumption Function, Investment Function, And Demand And Supply Of Money Are Discussed. Part V Concentrates On Open Economy Aspects Of Macroeconomics. Both Current Account And Asset Balance Approaches Are Discussed And There Is An Exhaustive Treatment Of Policy Making In Open Economies. Part Vi Considers Medium Term Dynamics Of The Public Debt And Business Cycles. Part Vii Concentrates On Real And Monetary Growth And Also Considers Optimal Economic Growth. Part Viii Considers Two Important Issues In Current Research And Debate: Stagflation, And New Keynesian Theory.This Book Has Been Written Primarly As A Text For Postgraduate And Upper Level Undergraduate Students. It Is Also Very Useful For Policy Makers And Research Students.


Complexity, Endogenous Money and Macroeconomic Theory by Mark Setterfield

Complexity, Endogenous Money and Macroeconomic Theory
  • Title : Complexity, Endogenous Money and Macroeconomic Theory
  • Author : Mark Setterfield
  • Publisher : Edward Elgar Publishing
  • ISBN Code : 1847203116
  • Pages : 448
  • Format : Pdf - ePub
  • Language : English
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Summary:

That the chapters in the volume cover such a wide range of important, often fundamental, topics is a proper tribute to Basil Moore s influence and contributions over his working life. From the foreword by G.C. Harcourt, Jesus College, Cambridge, UK During a distinguished career, Basil Moore has made numerous important contributions to macroeconomics and monetary economics, and is renowned as the progenitor of the horizontalist analysis of endogenous money. More recently, he has embraced complexity theory as part of an ongoing effort to understand macroeconomics as an evolving, path-dependent process. This book celebrates and explores Basil Moore s interests in and contributions to monetary and macroeconomic theory. Complexity, Endogenous Money and Macroeconomic Theory features original essays by internationally acclaimed and expert authors. It comprises a selection of papers on five distinct but interrelated themes: economic concepts, tools and methodology; complexity, uncertainty and path dependence; the macroeconomics of endogenous money; the macroeconomics of exogenous interest rates; and unemployment, inflation and the determination of aggregate income. These papers combine to provide a comprehensive methodological and theoretical discussion of the macroeconomics of a monetary production economy. The book will be of interest to professionals and research students in the fields of macroeconomics and monetary economics especially those with an interest in the Post Keynesian approach to analyzing these fields, including the wide audience that has been reached by the contributions of Basil Moore himself.


Macroeconomic Theory by Michael Wickens

Macroeconomic Theory
  • Title : Macroeconomic Theory
  • Author : Michael Wickens
  • Publisher : Princeton University Press
  • ISBN Code : 1400830230
  • Pages : 496
  • Format : Pdf - ePub
  • Language : English
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Summary:

Macroeconomic Theory is the most up-to-date graduate-level macroeconomics textbook available today. This book truly offers something new by emphasizing the general equilibrium character of macroeconomics to explain effects across the whole economy, not just part. It is also the perfect resource for economists who need to brush up on the latest developments. 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, exchange-rate determination, and 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. While the mathematics needed for this book is rigorous, the author describes fundamental concepts in a way that helps make the book self-contained and easy to use. Accessible, comprehensive, and wide-ranging, Macroeconomic Theory will become the standard text for students and is ideal for economists, particularly those in government, central and commercial banking, and financial investment. The most up-to-date macroeconomics textbook available today Web-based exercises with answers (June 2008) Emphasis on general equilibrium macroeconomics addresses the whole economy Latest advances in macroeconomics covered fully and completely Gives up-to-date account of monetary policy Covers modern finance Extensive mathematical appendix for at-a-glance easy reference


MACROECONOMIC THEORY by M. MARIA JOHN KENNEDY

MACROECONOMIC THEORY
  • Title : MACROECONOMIC THEORY
  • Author : M. MARIA JOHN KENNEDY
  • Publisher : PHI Learning Pvt. Ltd.
  • ISBN Code : 8120342402
  • Pages : 400
  • Format : Pdf - ePub
  • Language : English
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Summary:

Macroeconomic theories were designed to cope up with the economic turmoil, such as Great Depression, so as to stabilize the economy. This book comprehensively explains the broad aggregates and their interactions such as national income and output, the unemployment rate, and price inflation, and sub-aggregates like total consumption and investment spending, and their components. Divided into six parts, the textbook elaborates various aspects of macro-economics—circular flow and its effects on national income, monetary theory, business cycle theory and macroeconomic policies—in detail. The book makes clear the difference between three approaches to economics—Keynesian economics, which focuses on demand; New-classical economics, which is based on rational expectations and efficient markets; and Innova-tion economics, which is focused on long run growth through innovation. A prominent feature of this text is the use of simple algebraic expressions and formulations to reinforce analytical expositions of complex macroeconomic theories in students. The book also explicates how macroeconomic models and their forecasts can be utilized by both governments and large corporations to assist in the development and evaluation of economic policy. The chapters are incorporated with real-life examples giving practical insight on the subject. Primarily intended for the undergraduate and postgraduate students of economics, this book can also be beneficial for the students opting for the courses in commerce.


Macroeconomic Theory by Jean-Pascal Benassy

Macroeconomic Theory
  • Title : Macroeconomic Theory
  • Author : Jean-Pascal Benassy
  • Publisher : Oxford University Press
  • ISBN Code : 019992421X
  • Pages : 608
  • Format : Pdf - ePub
  • Language : English
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Summary:

This graduate textbook is a primer in macroeconomics. It starts from essential undergraduate macroeconomics and develops the central topics of modern macroeconomic theory in a simple and rigorous manner. All topics essential for first year graduate students are covered. These include rational expectations, intertemporal dynamic models, exogenous and endogenous growth, nonclearing markets and imperfect competition, uncertainty, and money. The book also covers real business cycles and dynamic stochastic general equilibrium models, integrating growth and fluctuations, sticky wages and prices, consumption and investment, and unemployment. Lastly, it studies government policy, stabilization, credibility, and the connections between politics and the macroeconomy. Each topic is presented in the simplest model possible while still delivering the relevant answers and keeping rigorous foundations throughout the book. To make the book fully self-contained there is a mathematical appendix that gives all necessary mathematical results.


Understanding Macroeconomic Theory by Bradley T. Ewing,John M. Barron,Gerald J. Lynch

Understanding Macroeconomic Theory
  • Title : Understanding Macroeconomic Theory
  • Author : Bradley T. Ewing,John M. Barron,Gerald J. Lynch
  • Publisher : Routledge
  • ISBN Code : 113599059X
  • Pages : 234
  • Format : Pdf - ePub
  • Language : English
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Summary:

At each point in time, individuals make choices with respect to the acquisition, sale, and/or use of a variety of different goods. Such activity can be summarized by aggregate variables such as an economy’s total production of various goods and services, the aggregate level of unemployment, the general level of interest rates, and the overall level of prices. The focus of this book is on developing simple theoretical models that provide insight into the reasons for fluctuations in such aggregate variables. The models included explore how shocks or ‘impulses’ to the economy (e.g. changes to technology, the money supply, or government policy) impact individuals’ behaviour in specific markets, and the resulting implications in terms of changes in aggregate variables. This book provides the reader with an in-depth understanding of standard theoretical models: Walrasian, Keynesian and Neoclassical. Pedagogically sophisticated, it is theoretically based, rigorous and includes a host of real world case studies and exercises. Underpinned by solid microfoundations, it is written in a concise, accessible style and is an indispensable tool for all students who wish to a gain a firm grounding in the complexities of macroeconomic theories as well as government and private sector researchers of macroeconomics.


Dynamic Macroeconomic Theory by Thomas J. Sargent

Dynamic Macroeconomic Theory
  • Title : Dynamic Macroeconomic Theory
  • Author : Thomas J. Sargent
  • Publisher : Harvard University Press
  • ISBN Code : 9780674043084
  • Pages : 384
  • Format : Pdf - ePub
  • Language : English
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Summary:

The tasks of macroeconomics are to interpret observations on economic aggregates in terms of the motivations and constraints of economic agents and to predict the consequences of alternative hypothetical ways of administering government economic policy. General equilibrium models form a convenient context for analyzing such alternative government policies. In the past ten years, the strengths of general equilibrium models and the corresponding deficiencies of Keynesian and monetarist models of the 1960s have induced macroeconomists to begin applying general equilibrium models. This book describes some general equilibrium models that are dynamic, that have been built to help interpret time-series of observations of economic aggregates and to predict the consequences of alternative government interventions. The first part of the book describes dynamic programming, search theory, and real dynamic capital pricing models. Among the applications are stochastic optimal growth models, matching models, arbitrage pricing theories, and theories of interest rates, stock prices, and options. The remaining parts of the book are devoted to issues in monetary theory; currency-in-utility-function models, cash-in-advance models, Townsend turnpike models, and overlapping generations models are all used to study a set of common issues. By putting these models to work on concrete problems in exercises offered throughout the text, Sargent provides insights into the strengths and weaknesses of these models of money. An appendix on functional analysis shows the unity that underlies the mathematics used in disparate areas of rational expectations economics. This book on dynamic equilibrium macroeconomics is suitable for graduate-level courses; a companion book, Exercises in Dynamic Macroeconomic Theory, provides answers to the exercises and is also available from Harvard University Press.


Essentials of Advanced Macroeconomic Theory by Ola Olsson

Essentials of Advanced Macroeconomic Theory
  • Title : Essentials of Advanced Macroeconomic Theory
  • Author : Ola Olsson
  • Publisher : Routledge
  • ISBN Code : 113649460X
  • Pages : 152
  • Format : Pdf - ePub
  • Language : English
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Summary:

Trying to summarize the essentials of macroeconomic theory in the wake of the financial crisis that has shaken not only Western economies but also the macroeconomic profession is no easy task. In particular, the notion that markets are self-correcting and always in equilibrium appears to have taken a heavy blow. However, the jury is still out on which areas should be considered as failures and what which constitute the future of research. The overall aim of this text is to provide a compact overview of the contributions that are currently regarded as the most important for macroeconomic analysis and to equip the reader with the essential theoretical knowledge that all advanced students in macroeconomics should be acquainted with. The result is a compact text that should act as the perfect complement to further study of macroeconomics: an introduction to the key concepts discussed in the journal literature and suitable for students from upper undergraduate level through to PhD courses.


Monopolistic Competition and Macroeconomic Theory by Robert M. Solow,Robert Merton Solow

Monopolistic Competition and Macroeconomic Theory
  • Title : Monopolistic Competition and Macroeconomic Theory
  • Author : Robert M. Solow,Robert Merton Solow
  • Publisher : Cambridge University Press
  • ISBN Code : 9780521626163
  • Pages : 78
  • Format : Pdf - ePub
  • Language : English
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Summary:

Nobel Laureate Robert Solow assesses the implications of monopolistic competition on macroeconomic theory.


Macroeconomic Theory and Its Failings by Steven Kates

Macroeconomic Theory and Its Failings
  • Title : Macroeconomic Theory and Its Failings
  • Author : Steven Kates
  • Publisher : Edward Elgar Publishing
  • ISBN Code : 1849803390
  • Pages : 304
  • Format : Pdf - ePub
  • Language : English
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Summary:

This innovative book focuses on the current global financial crisis and the inadequacies of the economic theories being used to guide policy. In so doing, it tackles the economic theories that have been used firstly to understand its causes and thereafter to contain the damage it has brought.


Macroeconomic Theory and Economic Policy by K. Vela Velupillai

Macroeconomic Theory and Economic Policy
  • Title : Macroeconomic Theory and Economic Policy
  • Author : K. Vela Velupillai
  • Publisher : Routledge
  • ISBN Code : 1134358717
  • Pages : 216
  • Format : Pdf - ePub
  • Language : English
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Summary:

Jean-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.


A Critical Essay on Modern Macroeconomic Theory by Frank Hahn,Robert M. Solow

A Critical Essay on Modern Macroeconomic Theory
  • Title : A Critical Essay on Modern Macroeconomic Theory
  • Author : Frank Hahn,Robert M. Solow
  • Publisher : MIT Press
  • ISBN Code : 9780262581547
  • Pages : 158
  • Format : Pdf - ePub
  • Language : English
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Summary:

Macroeconomics began as the study of large-scale economic pathologies such as prolonged depression, mass unemployment, and persistent inflation. In the early 1980s, rational expectations and new classical economics dominated macroeconomic theory, with the result that such pathologies can hardly be discussed within the vocabulary of the theory. This essay evolved from the authors' profound disagreement with that trend. It demonstrates not only how the new classical view got macroeconomics wrong, but alsohow to go about doing macroeconomics the right way.Hahn and Solow argue that what was originally offered as a normative model based on perfect foresight and universal perfect competition -- useful for predicting what an ideal, omniscient planner should do -- has been almost casually transformed into a model for interpreting real macroeconomic behavior, leading to Panglossian economics that does not reflect actual experience.Following an explanation of microeconomic foundations, chapters introduce the basic elements for a better macro model. The model is simple, but combined with the appropriate model of the labor market it can say useful things about the fluctuation of employment, the correlation between wages and employment, and the role for corrective monetary policy.


Post Keynesian Macroeconomic Theory, Second Edition by Paul Davidson

Post Keynesian Macroeconomic Theory, Second Edition
  • Title : Post Keynesian Macroeconomic Theory, Second Edition
  • Author : Paul Davidson
  • Publisher : Edward Elgar Publishing
  • ISBN Code : 184980981X
  • Pages : 360
  • Format : Pdf - ePub
  • Language : English
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Summary:

This important text develops Keynes's analytical framework for both closed and open economies and provides policy guidance for the global economy of the 21st century. In particular, it deals with problems such as inflation,financial contagion, global unemployment, outsourcing, trade patterns, and developing an international financial system that encourages expansionary growth among all trading partners while avoiding sovereign debt problems. Using this textbook in macroeconomics courses will provide students with apragmatic insight that will be both useful and productive.


Exercises in Dynamic Macroeconomic Theory by Rodolfo E. Manuelli,Thomas J Sargent

Exercises in Dynamic Macroeconomic Theory
  • Title : Exercises in Dynamic Macroeconomic Theory
  • Author : Rodolfo E. Manuelli,Thomas J Sargent
  • Publisher : Harvard University Press
  • ISBN Code : 9780674040571
  • Pages : 238
  • Format : Pdf - ePub
  • Language : English
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Summary:

This book is a companion volume to Dynamic Macroeconomic Theory by Thomas J. Sargent. It provides scrimmages in dynamic macroeconomic theory--precisely the kind of drills that people will need in order to learn the techniques of dynamic programming and its applications to economics. By doing these exercises, the reader can acquire the ability to put the theory to work in a variety of new situations, build technical skill, gain experience in fruitful ways of setting up problems, and learn to distinguish cases in which problems are well posed from cases in which they are not. The basic framework provided by variants of a dynamic general equilibrium model is used to analyze problems in macroeconomics and monetary economics. An equilibrium model provides a mapping from parameters of preferences, technologies, endowments, and rules of the game to a probability model for time series. The rigor of the logical connections between theory and observations that the mapping provides is an attractive feature of dynamic equilibrium, or rational expectations, models. This book gives repeated and varied practice in constructing and interpreting this mapping.


The Macroeconomic Theory of Exchange Rate Crises by Giovanni Piersanti

The Macroeconomic Theory of Exchange Rate Crises
  • Title : The Macroeconomic Theory of Exchange Rate Crises
  • Author : Giovanni Piersanti
  • Publisher : Oxford University Press
  • ISBN Code : 0199653127
  • Pages : 394
  • Format : Pdf - ePub
  • Language : English
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Summary:

An overview of the causes and consequences of speculative attacks on domestic currency and international financial turmoil. It provides a comprehensive treatment of the existing theories of exchange rate crises and of financial market runs.


Stabilization policies in Greece in the context of modern macroeconomic theory by Karl Jürgen Numrich, Carl Walter Meyer, Kurt Nagel,Volbert Alexander,George D. Demopoulos

Stabilization policies in Greece in the context of modern macroeconomic theory
  • Title : Stabilization policies in Greece in the context of modern macroeconomic theory
  • Author : Karl Jürgen Numrich, Carl Walter Meyer, Kurt Nagel,Volbert Alexander,George D. Demopoulos
  • Publisher : Duncker & Humblot
  • ISBN Code : 9783428466078
  • Pages : 301
  • Format : Pdf - ePub
  • Language : English
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The Revival of Laissez-faire in American Macroeconomic Theory by Sherryl Davis Kasper

The Revival of Laissez-faire in American Macroeconomic Theory
  • Title : The Revival of Laissez-faire in American Macroeconomic Theory
  • Author : Sherryl Davis Kasper
  • Publisher : Edward Elgar Publishing
  • ISBN Code : 9781843765608
  • Pages : 177
  • Format : Pdf - ePub
  • Language : English
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Summary:

'I find The Revival of Laissez-Faire informative, especially as a survey of the ideas of the six economists, each of whom was no doubt at the front in the intellectual battle over laissez-faire. The book is a good source on an important slice of twentieth century economics for undergraduate history of economics course.' - J. Daniel Hammond, Journal of the History of Economic Thought In the 1970s, the Keynesian orthodoxy in macroeconomics began to break down. In direct contrast to Keynesian recommendations of discretionary policy, models advocating laissez-faire came to the forefront of economic theory. Laissez-faire no longer stood as an exceptional policy endorsed for rare occurrences of market clearing; rather it became the policy standard. This book provides the definitive account of this watershed and traces the evolution of laissez-faire using the cases of its proponents, Frank Knight, Henry Simons, Friedrich von Hayek, Milton Friedman, James Buchanan and Robert Lucas. By elucidating the pre-analytical framework of their writings, Sherryl Kasper accounts for the ideological influence of these pioneers on theoretical work, and illustrates that they played a primary role in founding the theoretical and philosophical use of rules as the basis of macroeconomic policy. A case study of the way in which interwar pluralism transcended to postwar neoclassicism is also featured.


The Development of Swedish and Keynesian Macroeconomic Theory and Its Impact on Economic Policy by Erik Filip Lundberg

The Development of Swedish and Keynesian Macroeconomic Theory and Its Impact on Economic Policy
  • Title : The Development of Swedish and Keynesian Macroeconomic Theory and Its Impact on Economic Policy
  • Author : Erik Filip Lundberg
  • Publisher : Cambridge University Press
  • ISBN Code : 9780521570763
  • Pages : 210
  • Format : Pdf - ePub
  • Language : English
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Summary:

Explores the historical development of the Stockholm School of economics in the wider Keynesian tradition.


Macroeconomic Theory by Gardner Ackley

Macroeconomic Theory
  • Title : Macroeconomic Theory
  • Author : Gardner Ackley
  • Publisher :
  • ISBN Code :
  • Pages : 597
  • Format : Pdf - ePub
  • Language : English
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Macroeconomic Theory by Michael Wickens

Macroeconomic Theory
  • Title : Macroeconomic Theory
  • Author : Michael Wickens
  • Publisher : Princeton University Press
  • ISBN Code : 0691152861
  • Pages : 596
  • Format : Pdf - ePub
  • Language : English
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Summary:

Suitable for students and researchers seeking coverage of the developments in macroeconomics, this title lays out the core ideas of modern macroeconomics and its links with finance. It presents the simplest general equilibrium macroeconomic model for a closed economy, and then gradually develops a comprehensive model of the open economy.


Macroeconomic Theory by M.C. Vaish

Macroeconomic Theory
  • Title : Macroeconomic Theory
  • Author : M.C. Vaish
  • Publisher :
  • ISBN Code : 9788125911180
  • Pages : 779
  • Format : Pdf - ePub
  • Language : English
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Macroeconomic Theory by Fernando de Holanda Barbosa

Macroeconomic Theory
  • Title : Macroeconomic Theory
  • Author : Fernando de Holanda Barbosa
  • Publisher : Springer
  • ISBN Code : 3319921320
  • Pages : 435
  • Format : Pdf - ePub
  • Language : English
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Summary:

Macroeconomics 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.


Macroeconomics: Theory and Applications,2e by G S Gupta

Macroeconomics: Theory and Applications,2e
  • Title : Macroeconomics: Theory and Applications,2e
  • Author : G S Gupta
  • Publisher : Tata McGraw-Hill Education
  • ISBN Code : 9780070585942
  • Pages : 431
  • Format : Pdf - ePub
  • Language : English
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An Alternative Macroeconomic Theory by J. E. King (economista)

An Alternative Macroeconomic Theory
  • Title : An Alternative Macroeconomic Theory
  • Author : J. E. King (economista)
  • Publisher :
  • ISBN Code :
  • Pages : 228
  • Format : Pdf - ePub
  • Language : English
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Macroeconomic Theory and the Eurozone Crisis by Taylor & Francis Group

Macroeconomic Theory and the Eurozone Crisis
  • Title : Macroeconomic Theory and the Eurozone Crisis
  • Author : Taylor & Francis Group
  • Publisher : Routledge
  • ISBN Code : 9780367665197
  • Pages : 244
  • Format : Pdf - ePub
  • Language : English
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Summary:

The 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.


Macroeconomics by D. N. Dwivedi

Macroeconomics
  • Title : Macroeconomics
  • Author : D. N. Dwivedi
  • Publisher : Tata McGraw-Hill Education
  • ISBN Code : 9780070588417
  • Pages : 603
  • Format : Pdf - ePub
  • Language : English
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Methods of Macroeconomic Dynamics by Stephen J. Turnovsky

Methods of Macroeconomic Dynamics
  • Title : Methods of Macroeconomic Dynamics
  • Author : Stephen J. Turnovsky
  • Publisher : MIT Press
  • ISBN Code : 9780262201230
  • Pages : 671
  • Format : Pdf - ePub
  • Language : English
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Summary:

Just as macroeconomic models describe the overall economy within a changing, or dynamic, framework, the models themselves change over time. In this text Stephen J. Turnovsky reviews in depth several early models as well as a representation of more recent models. They include traditional (backward-looking) models, linear rational expectations (future-looking) models, intertemporal optimization models, endogenous growth models, and continuous time stochastic models. The author uses examples from both closed and open economies. Whereas others commonly introduce models in a closed context, tacking on a brief discussion of the model in an open economy, Turnovsky integrates the two perspectives throughout to reflect the increasingly international outlook of the field. This new edition has been extensively revised. It contains a new chapter on optimal monetary and fiscal policy, and the coverage of growth theory has been expanded substantially. The range of growth models considered has been extended, with particular attention devoted to transitional dynamics and nonscale growth. The book includes cutting-edge research and unpublished data, including much of the author's own work.


Macroeconomic Methodology by Jesper Jespersen

Macroeconomic Methodology
  • Title : Macroeconomic Methodology
  • Author : Jesper Jespersen
  • Publisher : Edward Elgar Publishing
  • ISBN Code : 1849802122
  • Pages : 272
  • Format : Pdf - ePub
  • Language : English
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Summary:

Methodological practice is at the heart of divisions between schools of macroeconomic thought. Jesper Jespersen s book explains why and precisely how, and gives the reader the insight to choose between rival approaches. His own inspiration comes from Critical Realism and Popper s Three World analysis, with Keynes as the main exponent of a realist approach. The starting point of realist theory is a view of how the world is, rather than axioms, and the test is whether the theory can make, as Jespersen puts it, the round trip back to reality , to give practical guidance to policy. This is only the focal point of a rich and attractive canvas. How I wish this book had been available when I taught methodology! And how I wish economists from all schools of thought would read it! Victoria Chick, University College London, UK This welcome volume by Jesper Jespersen offers an up-to-date realist approach to macroeconomics, drawing on recent developments in methodology, notably critical realism, as well as earlier Popperian ideas. He shows how economics in the Post-Keynesian tradition, using this approach, can address the important macro policy issues, and sets out a seven-point agenda for future theory development. This book provides an important launching-off point for addressing macroeconomic questions without the need for the abstractions as narrowly rational representative agents. Rather Jespersen explores the interdependencies between the macro and micro levels in real economic processes under conditions of uncertain knowledge. Sheila Dow, University of Stirling, UK Jesper Jespersen presents a treatise on the importance of the choice of methodology within macroeconomics. Given that no scientifically based macroeconomic policy recommendation should be established without an evaluation of the methods employed, this book gives a clear exposition of how proper macroeconomic analysis should be undertaken. Furthermore, it is convincingly argued that one of the lasting contributions of John Maynard Keynes was his emphasis on methodology; that macroeconomic consequences of uncertainty could not be analysed within the established general equilibrium framework. It is due to post-Keynesian economics supported by critical realism that the understanding of Keynes s methodology has been resurrected, which has eventually resulted in renewed debate on realistic macroeconomic policies to restore full employment without inflation. Macroeconomic Methodology is an inquiry into the question of how to conduct a proper scientific analysis of uncertainty within macroeconomics. It will be of great interest to scholars of the philosophy of social sciences and methodology, as well as post-Keynesian and heterodox economists.


Evolutionary Economics: Institutional theory and policy by Marc R. Tool

Evolutionary Economics: Institutional theory and policy
  • Title : Evolutionary Economics: Institutional theory and policy
  • Author : Marc R. Tool
  • Publisher : M.E. Sharpe
  • ISBN Code : 9780873324823
  • Pages : 508
  • Format : Pdf - ePub
  • Language : English
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Summary:

This is part of a two-volume work intended to map the theoretical heartland of the institutionalist perspective on political economy. Volume II considers basic economic processes, institutions for stabilizing and planning economic activities, the role of power and accountability, and emerging global interdependence. Marc R. Tool is the editor of "Journal of Economic Issues".


Theoretical Foundations of Macroeconomic Policy by Giovanni Di Bartolomeo,Enrico Saltari

Theoretical Foundations of Macroeconomic Policy
  • Title : Theoretical Foundations of Macroeconomic Policy
  • Author : Giovanni Di Bartolomeo,Enrico Saltari
  • Publisher : Routledge
  • ISBN Code : 1317239407
  • Pages : 198
  • Format : Pdf - ePub
  • Language : English
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Summary:

The recent economic events driven by the great financial crisis of 2007-08 has challenged some "dogma", highlighting various limits and drawbacks of current paradigms. The crisis showed the limitations of monetary policy and led to a revaluation of what levels of public debt can be considered safe. This volume aims to refresh the debate on some important long-run macroeconomic issues from new and fresh perspectives. Theoretical Foundations of Macroeconomic Policy raises a number of questions relating to the challenges faced by macroeconomic theory and policies. The common line is the long run and policy perspective. The first part of the book is devoted to the theory of growth and productivity. The second part concentrates on long-run effects of fiscal and monetary policy. Specifically, topics investigated by the international range of authors are the theory of optimal growth, the productivity policies and production function estimations, demand- vs. supply- driven growth, optimal debt default and the incompleteness of financial markets, the long-run optimal inflation target and its relationship with public finance, the long term effects of government budget constraints on growth, and effect on optimal policies in non-market clearing environment. The book will be of interest to postgraduates, researchers, and academics studying macroeconomics and fiscal policies.


Macroeconomic Theory by John A. Sawyer

Macroeconomic Theory
  • Title : Macroeconomic Theory
  • Author : John A. Sawyer
  • Publisher : Philadelphia : University of Pennsylvania
  • ISBN Code :
  • Pages : 233
  • Format : Pdf - ePub
  • Language : English
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Summary:

Macroeconomic Theory is a textbook for advanced undergraduate and graduate students providing a comprehensive review of the literature in macroeconomic theory and a guide for anyone interested in the evolution of the theory. John A. Sawyer takes the view that mainstream macroeconomic theory is made up of two distinct research programs, the neo-Walrasian program--a term used to group together the theories that come from Leon Walras's view of the economy--and the Keynesian program.


Macroeconomic Theory by James H. Gapinski

Macroeconomic Theory
  • Title : Macroeconomic Theory
  • Author : James H. Gapinski
  • Publisher : McGraw-Hill College
  • ISBN Code :
  • Pages : 432
  • Format : Pdf - ePub
  • Language : English
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