Rethinking Macroeconomics
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Rethinking Macroeconomics
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Author : John F. McDonald
language : en
Publisher: Routledge
Release Date : 2016-05-26
Rethinking Macroeconomics written by John F. McDonald and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-26 with Business & Economics categories.
The field of macroeconomics has always played host to contesting schools of thought, but the recent Global Financial Crisis has exacerbated those differences. In order to fully understand macroeconomics at the introductory level, students need to be aware of these controversies. Rethinking Macroeconomics introduces students to the different schools of thought, equipping them with the knowledge needed for a real understanding of today’s macro economy. The text guides the reader through various approaches to the analysis of the macro economy of the U.S., before presenting the data for several critical economic episodes, in order to discover which analytical method provides the best explanation for each event. It covers key background information on topics such as the basics of supply and demand, macroeconomic data, international trade and the balance of payments, and the creation of the money supply. Offering the context that is missing from existing introductory macroeconomics texts, John F. McDonald encourages students to think critically about received economic wisdom. This text is the ideal complement to any introductory macroeconomics textbook and is best suited for undergraduate students who have had an introductory course in economics.
Rethinking Macroeconomics
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Author : John F. McDonald
language : en
Publisher: Taylor & Francis
Release Date : 2021-09-12
Rethinking Macroeconomics written by John F. McDonald and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-09-12 with Business & Economics categories.
Macroeconomics has always played host to contesting schools of thought, but recent events have exacerbated those differences. To fully understand the subject, students need to be aware of these controversies. Rethinking Macroeconomics: A History of Economic Thought Perspective introduces students to the key schools of thought, equipping them with the knowledge needed for a true understanding of today’s economy. The text guides the reader through multiple approaches to macroeconomic analysis before presenting the data for several critical economic episodes, all in order to explore which analytical method provides the best explanation for each event. It covers key background information on topics such as the basics of supply and demand, macroeconomic data, international trade and the balance of payments, the creation of the money supply, and the global financial crisis. This anticipated second edition contains new chapters on Modern Monetary Theory, the Japanese economy, the European Union, and the COVID-19 crisis, bringing the story up to date and broadening the international coverage. Offering the context that is missing from existing introductory textbooks, this work encourages students to think critically about received economic wisdom. This is the ideal complement to any introductory macroeconomics textbook and is ideally suited for undergraduate students who have completed a principles of economics course. The book is fully supported with additional online resources, which include lecture slides and an instructor manual.
Rethinking Macroeconomics With Endogenous Market Structure
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Author : Marco Mazzoli
language : en
Publisher: Cambridge University Press
Release Date : 2019-12-19
Rethinking Macroeconomics With Endogenous Market Structure written by Marco Mazzoli and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-12-19 with Business & Economics categories.
"The last decade has seen a lively debate in macroeconomics, with an increasing criticism on the model that seemed to be dominant in literature since the end of the 1990's, the Dynamic Stochastic General Equilibrium (DSGE, hereafter) and, consequently, the birth of some new theoretical approaches and methodologies"--
Rethinking Macroeconomics For Sustainability
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Author : Alejandro Nadal
language : en
Publisher: Bloomsbury Publishing
Release Date : 2011-01-13
Rethinking Macroeconomics For Sustainability written by Alejandro Nadal and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-13 with Business & Economics categories.
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.
Rethinking Expectations
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Author : Roman Frydman
language : en
Publisher: Princeton University Press
Release Date : 2013
Rethinking Expectations 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 2013 with Business & Economics categories.
This book originated from a 2010 conference marking the fortieth anniversary of the publication of the landmark "Phelps volume," Microeconomic Foundations of Employment and Inflation Theory, a book that is often credited with pioneering the currently dominant approach to macroeconomic analysis. However, in their provocative introductory essay, Roman Frydman and Edmund Phelps argue that the vast majority of macroeconomic and finance models developed over the last four decades derailed, rather than built on, the Phelps volume's "microfoundations" approach. Whereas the contributors to the 1970 volume recognized the fundamental importance of according market participants' expectations an autonomous role, contemporary models rely on the rational expectations hypothesis (REH), which rules out such a role by design. The financial crisis that began in 2007, preceded by a spectacular boom and bust in asset prices that REH models implied could never happen, has spurred a quest for fresh approaches to macroeconomic analysis. While the alternatives to REH presented in Rethinking Expectations differ from the approach taken in the original Phelps volume, they are notable for returning to its major theme: understanding aggregate outcomes requires according expectations an autonomous role. In the introductory essay, Frydman and Phelps interpret the various efforts to reconstruct the field--some of which promise to chart its direction for decades to come. The contributors include Philippe Aghion, Sheila Dow, George W. Evans, Roger E. A. Farmer, Roman Frydman, Michael D. Goldberg, Roger Guesnerie, Seppo Honkapohja, Katarina Juselius, Enisse Kharroubi, Blake LeBaron, Edmund S. Phelps, John B. Taylor, Michael Woodford, and Gylfi Zoega.
The Great Recession
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Author : Anis Chowdhury
language : en
Publisher: Nova Science Publishers
Release Date : 2018
The Great Recession written by Anis Chowdhury and has been published by Nova Science Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Economic development categories.
The chapters in this volume were written as commentaries between mid-2008 and early-2016 in the wake of the Great Recession of 2008-2009. The primary topics around which the various essays are compiled are: (a) crisis and response, (b) fiscal policy, (c) monetary and capital account policy, (d) employment, and (e) development. The chapters not only provide a critique of mainstream macroeconomics, but also suggest a way forward. This volume contains an extensive introduction to synthesise the debate on macroeconomic orthodoxy and to assess the attempts at its reconstruction in light of its dismal failure in predicting the crisis and responding to it. As a background, it briefly traces the retreat of post-Great Depression Keynesian macroeconomics (with it, full employment as the primary policy goal) and the rise of new orthodoxy (concerned with a single target, inflation) that came to dominate major international financial institutions, notably the International Monetary Fund and the World Bank. It also highlights contrasting analyses of the global macroeconomic issues by the Bretton Woods Institutions (BWIs) vis-á-vis the United Nations, and their contributions to macroeconomics-development discourse. Two main conclusions about the various attempts at reconstructing macroeconomics are that they: (1) suffer from an advanced country bias, and (2) do not pay sufficient attention to employment even in developed countries. The benign neglect of developing countries in reconstructing macroeconomics is not at all surprising, as both post-Great Depression macroeconomics and its orthodox replacement evolved without paying due regard to the particular circumstances and problems of developing countries. The neglect of employment in rethinking macroeconomics shows how deeply orthodoxy still remains embedded in the major institutions, as well as among professional economists and policymakers. There is no sign of any significant shift even when a good deal of research within the BWIs themselves report findings that are contrary to conventional wisdom. Thus, unfortunately, whatever is likely to emerge as post-Great Recession macroeconomics does not seem very encouraging for employment and development. The essays compiled in this volume suggest how macroeconomics can serve the dual objectives of short-term stabilisation and long-term inclusive sustainable development goals with decent and productive employment featuring prominently for both developed and developing countries.
Rethinking Macroeconomics For Sustainability
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Author : Alejandro Nadal Egea
language : en
Publisher:
Release Date : 2021
Rethinking Macroeconomics For Sustainability written by Alejandro Nadal Egea and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with Economic development categories.
Rethinking Macroeconomics for Sustainability analyses the deep-seated relationship between macroeconomic policy models and their impact on growth, people's livelihoods and the environment. Examining key thematic problem areas and setting out policy recommendations, Alejandro Nadal argues that monetary, financial and fiscal policies, as important for environmental stewardship as they are for growth and prosperity, must be redesigned if we are to achieve long-term sustainability.
A Modern Guide To Rethinking Economics
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Author : Louis-Philippe Rochon
language : en
Publisher: Edward Elgar Publishing
Release Date : 2017-04-28
A Modern Guide To Rethinking Economics written by Louis-Philippe Rochon 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 2017-04-28 with categories.
Since the beginning of the 21st century, there has been an unprecedented move towards ‘rethinking economics’. This book contributes to this worldwide discussion by providing readers at all levels with thoughtful contributions on a range of economic topics. The book includes chapters on rethinking fiscal and monetary policies, international trade, the role of the state, money, growth, the environment, development policies, energy, healthcare and more. Written by top experts in their respective fields, this book will be useful to students and faculty who want to not only rethink economics, but also to offer an alternative and coherent economic analysis to the orthodoxy.
Rethinking The Theory Of Money Credit And Macroeconomics
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Author : John Smithin
language : en
Publisher: Rowman & Littlefield
Release Date : 2018-09-15
Rethinking The Theory Of Money Credit And Macroeconomics written by John Smithin and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-09-15 with Business & Economics categories.
This book provides a comprehensive re-working of the basic principles of monetary macroeconomics in an alternative monetary model (AMM) of economic growth, the business cycle, inflation and income distribution. These principles differ considerably from those advanced in the standard macroeconomics literature and in textbooks. However, the latter have been demonstrably unsuccessful in the promotion of usable macroeconomic policy advice for the past several years, actually decades. A different approach is needed. In particular, the new approach takes seriously the vital role of credit creation and endogenous money in capitalism. It does not imagine that all of the difficult questions of economic policy-making may be resolved within a paradigm that conceptualizes economic activity as merely a question of barter exchange. The result is a blueprint for a set of growth-friendly macroeconomic policies which will promote full employment, financial stability and higher real wages – essentially for the benefit of the long-suffering middle and working classes rather for the chamber of commerce and financial interests.
Evolution Or Revolution
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Author : Olivier Blanchard
language : en
Publisher: MIT Press
Release Date : 2019-04-16
Evolution Or Revolution written by Olivier Blanchard and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-04-16 with Business & Economics categories.
Leading economists discuss post–financial crisis policy dilemmas, including the dangers of complacency in a period of relative stability. The Great Depression led to the Keynesian revolution and dramatic shifts in macroeconomic theory and macroeconomic policy. Similarly, the stagflation of the 1970s led to the adoption of the natural rate hypothesis and to a major reassessment of the role of macroeconomic policy. Should the financial crisis and the Great Recession lead to yet another major reassessment, to another intellectual revolution? Will it? If so, what form should it, or will it, take? These are the questions taken up in this book, in a series of contributions by policymakers and academics. The contributors discuss the complex role of the financial sector, the relative roles of monetary and fiscal policy, the limits of monetary policy to address financial stability, the need for fiscal policy to play a more active role in stabilization, and the relative roles of financial regulation and macroprudential tools. The general message is a warning against going back to precrisis ways—to narrow inflation targeting, little use of fiscal policy for stabilization, and insufficient financial regulation. Contributors David Aikman, Alan J. Auerbach, Ben S. Bernanke, Olivier Blanchard, Lael Brainard, Markus K. Brunnermeier, Marco Buti, Benoît Cœuré, Mario Draghi, Barry Eichengreen, Jason Furman, Gita Gopinath, Pierre-Olivier Gourinchas, Andrew G. Haldane, Philipp Hildebrand, Marc Hinterschweiger, Sujit Kapadia, Nellie Liang, Adam S. Posen, Raghuram Rajan, Valerie Ramey, Carmen Reinhart, Dani Rodrik, Robert E. Rubin, Jay C. Shambaugh, Tharman Shanmugaratnam, Jeremy C. Stein, Lawrence H. Summers