Knowledge Information And Expectations In Modern Macroeconomics

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Knowledge Information And Expectations In Modern Macroeconomics

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Author : Philippe Aghion
language : en
Publisher: Princeton University Press
Release Date : 2003-01-26

Knowledge Information And Expectations In Modern Macroeconomics written by Philippe Aghion and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-01-26 with Biography & Autobiography categories.

Assembling some of the leading figures in the field of macroeconomics, this text highlights the continuing influence of the ideas of Edmund Phelps since the early 1960s. The contributions address many of the most important current areas of macroeconomic research in 2003.

Knowledge Information And Expectations In Modern Macroeconomics

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Author : Philippe Aghion
language : en
Publisher: Princeton University Press
Release Date : 2021-01-12

Knowledge Information And Expectations In Modern Macroeconomics written by Philippe Aghion and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-01-12 with Business & Economics categories.

Macroeconomics would not be what it is today without Edmund Phelps. This book assembles the field's leading figures to highlight the continuing influence of his ideas from the past four decades. Addressing the most important current debates in macroeconomic theory, it focuses on the rates at which new technologies arise and information about markets is dispersed, information imperfections, and the heterogeneity of beliefs as determinants of an economy's performance. The contributions, which represent a breadth of contemporary theoretical approaches, cover topics including the real effects of monetary disturbances, difficulties in expectations formation, structural factors in unemployment, and sources of technical progress. Based on an October 2001 conference honoring Phelps, this incomparable volume provides the most comprehensive and authoritative account in years of the present state of macroeconomics while also pointing to its future. The fifteen chapters are by the editors and by Daron Acemoglu, Jess Benhabib, Guillermo A. Calvo, Oya Celasun, Michael D. Goldberg, Bruce Greenwald, James J. Heckman, Bart Hobijn, Peter Howitt, Hehui Jin, Charles I. Jones, Michael Kumhof, Mordecai Kurz, David Laibson, Lars Ljungqvist, N. Gregory Mankiw, Dale T. Mortensen, Maurizio Motolese, Stephen Nickell, Luca Nunziata, Wolfgang Ochel, Christopher A. Pissarides, Glenda Quintini, Ricardo Reis, Andrea Repetto, Thomas J. Sargent, Jeremy Tobacman, and Gianluca Violante. Commenting are Olivier J. Blanchard, Jean-Paul Fitoussi, Mark Gertler, Robert E. Hall, Robert E. Lucas, Jr., David H. Papell, Robert A. Pollak, Robert M. Solow, Nancy L. Stokey, and Lars E. O. Svensson. Also included are reflections by Phelps, a preface by Paul A. Samuelson, and the editors' introduction.

Foundations Of Modern Macroeconomics

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Author : Ben J. Heijdra
language : en
Publisher: Oxford University Press
Release Date : 2017

Foundations Of Modern Macroeconomics written by Ben J. Heijdra and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with Business & Economics categories.

Using nothing more than undergraduate mathematical skills this book takes the reader from basic IS-LM style macro models to the state of the art literature on Dynamic Stochastic General Equilibrium. Dealing with all major topics it summarizes important approaches and provides a coherent angle on macroeconomic thought.

Fighting Unemployment

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Author : David R. Howell
language : en
Publisher: Oxford University Press
Release Date : 2005

Fighting Unemployment written by David R. Howell and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business & Economics categories.

Critically assessing the widely accepted view that the cause of unemployment is excessive labor market regulation and overly generous welfare state benefits, this book's chapters include both cross-country statistical analyses and country case studies.

Assets Beliefs And Equilibria In Economic Dynamics

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Author : Charalambos D. Aliprantis
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-11-11

Assets Beliefs And Equilibria In Economic Dynamics written by Charalambos D. Aliprantis and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-11-11 with Business & Economics categories.

A collection of papers dealing with a broad range of topics in mathematical economics, game theory and economic dynamics. The contributions present both theoretical and applied research. The volume is dedicated to Mordecai Kurz. The papers were presented in a special symposium co-hosted by the Stanford University Department of Economics and by the Stanford Institute of Economic Policy Research in August 2002.

Inflation In Emerging And Developing Economies

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Author : Jongrim Ha
language : en
Publisher: World Bank Publications
Release Date : 2019-01-03

Inflation In Emerging And Developing Economies written by Jongrim Ha and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-01-03 with Business & Economics categories.

This is the first comprehensive study in the context of EMDEs that covers, in one consistent framework, the evolution and global and domestic drivers of inflation, the role of expectations, exchange rate pass-through and policy implications. In addition, the report analyzes inflation and monetary policy related challenges in LICs. The report documents three major findings: In First, EMDE disinflation over the past four decades was to a significant degree a result of favorable external developments, pointing to the risk of rising EMDE inflation if global inflation were to increase. In particular, the decline in EMDE inflation has been supported by broad-based global disinflation amid rapid international trade and financial integration and the disruption caused by the global financial crisis. While domestic factors continue to be the main drivers of short-term movements in EMDE inflation, the role of global factors has risen by one-half between the 1970s and the 2000s. On average, global shocks, especially oil price swings and global demand shocks have accounted for more than one-quarter of domestic inflation variatio--and more in countries with stronger global linkages and greater reliance on commodity imports. In LICs, global food and energy price shocks accounted for another 12 percent of core inflation variatio--half more than in advanced economies and one-fifth more than in non-LIC EMDEs. Second, inflation expectations continue to be less well-anchored in EMDEs than in advanced economies, although a move to inflation targeting and better fiscal frameworks has helped strengthen monetary policy credibility. Lower monetary policy credibility and exchange rate flexibility have also been associated with higher pass-through of exchange rate shocks into domestic inflation in the event of global shocks, which have accounted for half of EMDE exchange rate variation. Third, in part because of poorly anchored inflation expectations, the transmission of global commodity price shocks to domestic LIC inflation (combined with unintended consequences of other government policies) can have material implications for poverty: the global food price spikes in 2010-11 tipped roughly 8 million people into poverty.

Imperfect Knowledge Economics

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Author : Roman Frydman
language : en
Publisher: Princeton University Press
Release Date : 2023-09-26

Imperfect Knowledge Economics written by Roman Frydman and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-09-26 with Business & Economics categories.

Posing a major challenge to economic orthodoxy, Imperfect Knowledge Economics asserts that exact models of purposeful human behavior are beyond the reach of economic analysis. Roman Frydman and Michael Goldberg argue that the longstanding empirical failures of conventional economic models stem from their futile efforts to make exact predictions about the consequences of rational, self-interested behavior. Such predictions, based on mechanistic models of human behavior, disregard the importance of individual creativity and unforeseeable sociopolitical change. Scientific though these explanations may appear, they usually fail to predict how markets behave. And, the authors contend, recent behavioral models of the market are no less mechanistic than their conventional counterparts: they aim to generate exact predictions of "irrational" human behavior. Frydman and Goldberg offer a long-overdue response to the shortcomings of conventional economic models. Drawing attention to the inherent limits of economists' knowledge, they introduce a new approach to economic analysis: Imperfect Knowledge Economics (IKE). IKE rejects exact quantitative predictions of individual decisions and market outcomes in favor of mathematical models that generate only qualitative predictions of economic change. Using the foreign exchange market as a testing ground for IKE, this book sheds new light on exchange-rate and risk-premium movements, which have confounded conventional models for decades. Offering a fresh way to think about markets and representing a potential turning point in economics, Imperfect Knowledge Economics will be essential reading for economists, policymakers, and professional investors.

Handbook Of Monetary Economics 3a

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Author :
language : en
Publisher: Elsevier
Release Date : 2010-12-08

Handbook Of Monetary Economics 3a written by and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-12-08 with Business & Economics categories.

What tools are available for setting and analyzing monetary policy? World-renowned contributors examine recent evidence on subjects as varied as price-setting, inflation persistence, the private sector's formation of inflation expectations, and the monetary policy transmission mechanism. Stopping short of advocating conclusions about the ideal conduct of policy, the authors focus instead on analytical methods and the changing interactions among the ingredients and properties that inform monetary models. The influences between economic performance and monetary policy regimes can be both grand and muted, and this volume clarifies the present state of this continually evolving relationship. - Explores the models and practices used in formulating and transmitting monetary policies - Raises new questions about the volume, price, and availability of credit in the 2007-2010 downturn - Questions fiscal-monetary connnections and encourages new thinking about the business cycle itself - Observes changes in the formulation of monetary policies over the last 25 years

Handbook Of Monetary Economics Vols 3a 3b Set

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Author : Benjamin M. Friedman
language : en
Publisher: Newnes
Release Date : 1990

Handbook Of Monetary Economics Vols 3a 3b Set written by Benjamin M. Friedman and has been published by Newnes this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Business & Economics categories.

How have monetary policies matured during the last decade? The recent downturn in economies worldwide have put monetary policies in a new spotlight. In addition to their investigations of new tools, models, and assumptions, they look carefully at recent evidence on subjects as varied as price-setting, inflation persistence, the private sector's formation of inflation expectations, and the monetary policy transmission mechanism. They also reexamine standard presumptions about the rationality of asset markets and other fundamentals. Stopping short of advocating conclusions about the ideal conduct of policy, the authors focus instead on analytical methods and the changing interactions among the ingredients and properties that inform monetary models. The influences between economic performance and monetary policy regimes can be both grand and muted, and this volume clarifies the present state of this continually evolving relationship. Presents extensive coverage of monetary policy theories with an eye toward questions raised by the recent financial crisis Explores the policies and practices used in formulating and transmitting monetary policies Questions fiscal-monetary connnections and encourages new thinking about the business cycle itself Observes changes in the formulation of monetary policies over the last 25 years

Roads To Wisdom Conversations With Ten Nobel Laureates In Economics

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Author : Karen Ilse Horn
language : en
Publisher: Edward Elgar Publishing
Release Date : 2009-01-01

Roads To Wisdom Conversations With Ten Nobel Laureates In Economics written by Karen Ilse Horn and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-01-01 with Biography & Autobiography categories.

This is a beautifully written and engaging book. At its heart is a series of structured interviews with ten Nobel Memorial Laureates in Economics that provide fascinating insights into the main influences on their career paths and pioneering work. Karen Horn is to be applauded, not just for her wide-ranging scholarship and thought-provoking analysis but also for producing a non-technical yet rigorous book which is eminently accessible to non-specialists. In short this an excellent volume which comes highly recommended. Howard R. Vane, Liverpool John Moores University, UK Karen Horn s questions are insightful, her notes are accurate and informative, and her summing up of the central question of creativity that she poses in the book is cogent and to the point. All in all, this book is difficult to put down and I can t imagine any reader who will not fail to learn a great deal about economics along the way. Mark Blaug, University of London and University of Buckingham, UK Karen Horn s remarkable interviews with ten Nobel Laureates explore the conditions required for scientific progress by navigating the roads to wisdom in economic science. How does progress in economic theory come about? Where do path-breaking ideas come from? What is it that has enabled these outstanding scholars to make their substantial contributions? How deep are the footprints of a particular historical situation, how strong the political tide or the state-of-the-art in economics, and how influential is personal history on their individual roads to wisdom? Analytical answers to these fundamental questions are presented in this insightful collection of deep and highly inspiring conversations with Nobel Laureates Paul A. Samuelson, Kenneth J. Arrow, James M. Buchanan, Robert M. Solow, Gary S. Becker, Douglass C. North, Reinhard Selten, George A. Akerlof, Vernon L. Smith and Edmund S. Phelps. Superbly supplemented with concise overviews of the Nobel Laureates lives and works, these fascinating discussions culminate with a comprehensive inquiry into progress in economic theory. As such, this eloquent and highly accessible book will prove to be a compelling read for scholars and students of the discipline, and all those with an interest in economics and the history of economic thought.