Macroeconomics Imperfections, Institutions and Policies
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Description: The distinctive feature of this book is that it provides a unified framework for the analysis of short- and medium-run macroeconomics. This gives students a model that they can use themselves to understand a wide range of real-world macroeconomic behaviour and policy issues. The authors introduce a new graphical model (IS/PC/MR) based on the 3-equation New Keynesian model used in modern macroeconomics. The three equations are- the IS curve- the Phillips curve and- an interest rate-based monetary policy rule.The use of a common framework throughout for closed and open economies helps readers develop the economic intuition with which to address a diversity of macroeconomic problems. Applied chapters show how the models can be used to analyse performance in OECD economies over the past twenty-five years. The chapters on growth present an in-depth coverage of the Solow-Swan, endogenous and Schumpeterian models that allow the reader to understand how these approaches can be used to answer the bigquestions of growth: why some countries are rich and others, poor; why some catch up and others do not.Since the book is based on the mainstream 3-equation model used at the research frontier, the book gives students the economics background necessary for accessing advanced macroeconomics. It is also designed to appeal to graduate students, non-specialists in macroeconomics, professional economists and those from related disciplines who want a guide to the complexities of modern macroeconomics and to understand contemporary policy debates.Online Resource CentreThe companion web site will provide exercises and checklist questions for students and password-protected solutions and diagrams from the text for lecturers.
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All the information you need in one place! Each Study Brief is a summary of one specific subject; facts, figures, and explanations to help you learn faster.
List price: $119.95
Copyright year: 2006
Publisher: Oxford University Press, Incorporated
Publication date: 2/2/2006
Size: 7.00" wide x 9.25" long x 1.50" tall
|Motivation for Macroeconomic Models|
|The Macroeconomic Model|
|Aggregate Demand, Aggregate Supply and Business Cycles|
|Inflation, Unemployment and Monetary Rules|
|Labour Markets and Supply-Side Policies|
|Consumption, Investment And Money|
|Consumption and Investment|
|Money and Finance|
|The Open Economy|
|The open economy in the short run|
|Inflation and Unemployment in the Open Economy|
|Shocks and Policy Responses in the Open Economy|
|Exogenous Growth Theory|
|Endogenous and Schumpeterian Growth|
|Micro-Foundations And Political Economy|
|New Keynesian Micro-foundations|
|Performance and Policy in Europe, the USA and Japan|
|Unemployment: institutions, shocks and policies|