The authors make a strong case that a stable non-accelerating inflation rate of unemployment (NAIRU), independent of macroeconomic policy, does not exist. Consequently, government decisions based on the NAIRU are not only misguided but have huge and avoidable social costs, namely, high unemployment and sustained inequality.
The key to understanding macroeconomics for business professionals is to view it as a second language. Olney takes this innovative approach as he zeroes in on the concepts, assumptions, and models they'll need to learn. Each chapter begins with the equations and graphs that will enable them to dive into the application of economic principles.
Presents and reinforces core concepts, then immediately assesses student comprehension to ensure understanding. This title includes the information and developments in microeconomics, and presented in an engaging, easy-to-follow format that students can quickly grasp and apply to everyday life.
This book arises from a conviction that the NNS-DSGE approach to the analysis of aggregate market outcomes is fundamentally flawed. It offers the first complete analysis of an agent-based macroeconomic model, from theoretical foundation to empirical testing.
This study guide to accompany the 2nd edition of Krugman and Wells' Macroeconomics is carefully designed to ensure that the student gains the most from the parent text. It contains a wealth of features to support learning and comprehension, and is closely mapped to the main book.
Presents a practical foundation in general equilibrium theory. This book embeds the theory in a multi-sector dynamic framework, discusses how to practically link the theory to real economic data, and provides instructions on how to use existing software - in this case Mathematica - to construct model simulations for policy and other analysis.
This book presents a clear exposition of what constitutes asymmetry in economics. It provides an empirical application of these ideas in the case of the EU. In particular, it shows how important asymmetry is for the appropriate design of policy in the Euro Area.
This book deals with the key aspects of developments in monetary economics and macroeconomics, such as the New Consensus Macroeconomics, and further ones such as money, credit and the business cycle. Adding to the analysis are developments that focus on issues for open and spatial macroeconomics.
Why do economic variables change? So what if they do, what happens next? How do the processes and institutions really work? This book helps you analyze actual macroeconomic events and policy. It provides insights into policy institutions and processes and highlights the development context of macroeconomic policy in South Africa.
New model solution techniques are required to deal with the increasingly important role of dynamics and uncertainty in macroeconomics. This book consists of articles by leading contributors in the field showing how to use these techniques in the context of standard macroeconomic models.
Suitable for a core course in modern macroeconomics, this textbook deals with the major topics, summarizes the important approaches, and gives students a coherent angle on various aspects of macroeconomic thought. Each chapter deals with a separate area of macroeconomics, and contains a summary section of key points and a further reading list.
Offers students with an understanding of fundamental models in macroeconomics, and introduces them to the methods of formal macroeconomic analysis. This book focuses on macroeconomics for the long run, introducing and develops basic models of growth and structural unemployment. It also deals with the economy in the short run.
The macroeconomic performance noted for Fiji during 1970-2004 period indicates that economic growth has been less than satisfactory and investment is remaining below desired levels. Fiji's economic growth has been below the average for the East Asia and the Pacific group of countries. This book looks at the fluctuating Fiji economy.
A discussion of what has succeeded (and failed) in the design and implementation of projects and institutions to assist the poor in developing country economies. It identifies and assesses the key processes through which markets affect the livelihoods of the rural poor.
Provides an overview and exploration of methodologies, models, and techniques used to analyze forces shaping national economies. This title presents a range of methods for characterizing and evaluating empirical implications, including calibration exercises, method-of-moment procedures, and likelihood-based procedures, both classical and Bayesian.
Methodologies for analyzing the forces that move and shape national economies have advanced markedly, enabling economists to unite theoretical and empirical research and align measurement with theory. This work provides an overview and treatment analysts need to apply these theoretical models and empirical techniques.
The main aim of this book is to develop and implement an innovative tool: exchange-entitlement mapping, or E-mapping for short. This tool enables us to look at the economic and social opportunities to develop human capabilities for different groups of individuals, depending on their group identity such as age, ethnicity or gender.
Policymakers need quantitative as well as qualitative answers to pressing policy questions. Because of advances in computational methods, quantitative estimates are derived from coherent nonlinear dynamic macroeconomic models. This text shows how such models can be made accessible and operational for confronting policy issues.
Along with microeconomics, macroeconomics is one of the two most general fields in economics. This title deals with research on macroeconomics which is a branch of economics that deals with the performance, structure, and behaviour of a national or regional economy as a whole.
Covers such topics as: relationship between development of financial markets and economic growth; credit risk; measure of risk in equity and bond markets; and investigating behavior and efficiency of banking intermediaries. This work serves as a useful reference for those interested in financial market dynamics.
The Blue Book provides detailed estimates of national product, income and expenditure for the UK. It covers value added by industry, full accounts by sector and capital formation. This key annual title also includes annual figures for preliminary, provisional and full quarterly estimates of national accounts.
The Blue Book provides detailed estimates of national product, income and expenditure for the UK. It covers value added by industry, full accounts by sector and capital formation. This key annual title also includes annual figures for preliminary, provisional and full quarterly estimates of national accounts.
The Blue Book provides detailed estimates of national product, income and expenditure for the UK. It covers value added by industry, full accounts by sector and capital formation. This key annual title also includes annual figures for preliminary, provisional and full quarterly estimates of national accounts.
Modern Macroeconomics' provides a back-to-basics approach to macroeconomics. Requiring only a microeconomics background, the book is a comprehensive introduction to macroeconomics that builds the essential elements in a methodologically consistent fashion.
This accessible textbook applies the basic principles of economic analysis to the U.S. market, describes tools for measuring an economy''s performance, and discusses the federal government''s taxing and spending policies, monetary policy, and free trade agreements. The fourth edition adds an appendix on the self-correcting aggregate demand and supply
This text presents core issues in open economy macroeconomics and finance. Topic coverage includes intertemporal consumption and investment theory, government spending and budget deficits, finance theory and asset pricing, and the implications of international capital market integration.
Macroeconomics is that part of economics that focuses on economic growth and economic fluctuations. In a world of globalisation, it is necessary for some countries and companies to find the best regions to invest and for others to grow and compete for investment. This book offers research regarding the international financial currents.
China has reduced the energy intensity of its economy dramatically. This text explores how this reduction was achieved and determines the major sources of energy savings. Using extensive data, the author examines the impacts of technological and structural changes on energy consumption.
Offers a comprehensive analysis of an economic trend that has been reshaping the United States over the years: rapidly rising income inequality. This title provides an overview of how and why the level and distribution of income and wealth has changed since 1979, and investigates the forces that are driving it.
The Great Depression of the 1930s gave birth to a branch of economics that in 1933 Ragnar Frisch christened macroeconomics. This book presents an unconventional perspective on macroeconomics - the interplay of theory and policy in a historical context.
This book documents the patterns of income mobility and poverty dynamics in Britain and how they have changed over the last two decades. It draws attention to the relationships between changes in income and in other aspects of people's lives - not only in their jobs, earnings, benefits and credits, but also in the households within which they live.
Alfred Marshall has traditionally been listed alongside pioneering 'neoclassical' economists. In this volume Neil Hart challenges this view, illuminating the ambiguities within Marshall's work, and exploring his reconciliation of two modes of thinking, equilibrium economics and evolutionary economics.
Welfare economics is a branch of economics that uses microeconomic techniques to simultaneously determine allocative efficiency within an economy and the income distribution associated with it. This book presents research in the field from around the world.
Presents a review of the problems of transformation as well as the results of implementation of the financial-currency policy in the post-communist countries. This title contains characteristics of alternative circumstances of implementation of the financial policy and the conclusions on their possible transformation.
This book integrates the fundamentals of monetary theory, monetary policy theory and financial market theory, providing an accessible introduction to the workings and interactions of globalised financial markets. Includes examples and extensive data analyses.
Looks at the distribution of income and wealth and the effects that this has on the macroeconomy, and vice versa. Taking stock of results and methods developed in the context of the 1990s revival of growth theory, this book focuses on capital accumulation and long-run growth.
This is an academic monograph based upon a three year empirical study of the Italian economy. It presents in a non-technical way an explanation of the huge extent and range of state intervention, and argues that this intervention should be substantially decreased and altered in character to allow the Italian economy to thrive.
Presenting macroeconomic concepts, this book introduces tools for interpreting the big-picture economic developments that shape events in the contemporary business arena. It includes examples which are drawn from history to illuminate useful concepts.
The essay plans contained in this text cover the most commonly asked questions on each syllabus area of microeconomics and macroeconomics. The author has used a wealth of experience in teaching and examining in economics to provide a useful manual for all students of the subject.
Understanding why inequality is so great and has persevered for centuries in a number of Latin American countries requires tools that go beyond economics. Investigating the case of Peru, this book explores how inequality is embedded in institutions that constitute the interface between the economy, the polity and geography of the country.
In plain English, renowned economic journalist Baumohl helps readers find the numbers, understand their deepest meanings, and use that knowledge to make fast, smart investment decisions. He covers both U.S. indicators and the foreign indicators that are becoming increasingly important to investors.
This study addresses issues of economics, principally the relationship between macro and micro economics, by analyzing the impact of an external "macro shock" on two developing countries. These countries have much in common, but their governmental organizations and objectives differ sharply.
This thesis concludes that land speculation is the major cause of depressions. The author shows how the land market functions to distort the relations between labour and capital and how land speculation periodically chokes off economic expansion, causing stagnation. He proposes a solution which would create employment and higher growth rates.
A revised and updated selection of the most significant "Oxford Review of Economic Policy" papers in macroeconomics, chosen by the editor. Topics covered include fiscal policy, exchange rates, monetary policy, consumption, the balance of payments, inflation, unemployment, growth and productivity.
Brings together dynamic equilibrium theory, data analysis, and advanced econometric and computational methods to provide a comprehensive set of techniques for use by academic economists as well as professional macroeconomists in various fields. This book starts from a class of DSGE models and describes methods needed to estimate their parameters.
Aims to provide a unified framework for the analysis of short- and medium-run macroeconomics. This book seeks to give students a model that they can use themselves to understand real-world macroeconomic behaviour and policy issues. It introduces a graphical model (IS/PC/MR) based on the 3-equation New Keynesian model used in modern macroeconomics.
Emphasizing the general equilibrium character of macroeconomics, this book explains effects across the whole economy, not just part. It presents the simplest general equilibrium macroeconomic model for a closed economy, and develops a comprehensive model of the open economy.
Uses the aggregate supply/aggregate demand model as a fundamental tool for learning macroeconomics. This book provide a balance of theory to application allowing readers to relate the materials to their everyday lives using puzzles, issues, and examples.
Suitable to those taking a single course in macroeconomics, this work deals with sophisticated issues using advanced economic theory. It begins with real world economic issues, and describes why these matter, before embarking on economic theory, thereby giving a practical understanding of the global economy and how economists think about it.
In a recession, we are all acutely aware of our dwindling wealth and the spiralling prices of essentials. The fact that these are in fewer and nastier hands than ever before has rarely - if ever - been explained by the media. This book intends to point out the power of these individuals and how they are just the start of a deeply worrying trend.
This book examines the theory and practice of performance budgeting, which aims make government more effective by linking the funding of government agencies to the results they deliver. Combining thematic studies and case studies, it clearly presents the diverse range of contemporary performance budgeting models and examines their effectiveness.
Intends to help the beginning student master the principles essential for understanding the economizing problem, specific economic issues, and the policy alternatives. This title also helps the students understand and apply the economic perspective and reason accurately and objectively about economic matters.
This text reflects a concern to understand macroeconomic principles and applications in the context of the open economies of Western Europe and the rest of the world. It covers the three main macroeconomic models, the income expenditure model, the IS LM model and the AD AS model.
Raising the share of income saved is a frequent aim of public policy. This book presents an economic analysis of the macroeconomic effects of raising savings. It also looks at savings incentives and Social Security, and why the household savings rate is low.
The standard theory of decision making under uncertainty advises the decision maker to form a statistical model linking outcomes to decisions and then to choose the optimal distribution of outcomes. It assumes that you trust the model completely. But what should a decision maker do if the model cannot be trusted? This work answers this question.
Covers the principles of economics. Featuring intriguing pop culture examples, this text illustrates the unexpected places economics occurs, and how economic forces link events to our lives. It features content reflecting a changing economy and resources addressing the needs of a changing classroom.
Collects a set of essays exploring the unavoidable issue of poverty. This book presents studies and opinions about where the poor come from and what we can do to help them including such questions as gender inequality and poverty, minimum wages and development and its impact on poverty.
Focuses on topics such as: inequality, housing markets, the deflator and the CPI, the PCE deflator as a third measure of prices, economic growth, and International Finance. This title addresses the global financial challenges being faced, and recovery from these economic challenges, including coverage of the Obama Administration.
The Study Guide by text coauthor Dean Croushore offers handy review and study aids for each chapter, including a review of each chapter as well as multiple-choice and short-answer problems with answers included. Students can purchase the Study Guide from the online catalog or from MyPearsonStore.
Singapore's phenomenal transformation from Third World to First World status has been of great interest to economists around the world. This book presents the Singapore economy through a macroeconometric model. Using formal econometric analysis and novel modelling techniques, it offers insights into how the Singapore economy works.
In recent years the world economy has been undergoing drastic changes - the East Asian miracle, the financial crisis, and globalization and the fundamental changes associated with the "new economy". This book integrates these developments with macroeconomics for business managers and policymakers.
Presents facts on the important variables of the macro economy and uses them to differentiate how well particular economic theories perform or fail to do so. This work provides the justification for the simultaneous relevance of both Classical ideas and Keynesian ones.
Focuses on the purchasing power parity puzzle. This book presents papers that try to explain the behaviour of nominal and real exchange rates. It covers the financial crises, currency crises and contagion literature. It considers the behaviour of exchange rates, inflation and output convergence in Central and Eastern European transition economies.
The second of two volumes exploring how statistical evidence is used to relate macroeconomic theories to the real world. It focuses on the labour market and economic policy, with sections on the ISLM model, new Keynesian macroeconomics and the use of macroeconomics in official documentation.
Presents and reinforces core concepts, then immediately assesses student comprehension to ensure understanding. This title includes information and developments in microeconomics, and presented in an engaging, easy-to-follow format that students can quickly grasp and apply to everyday life.
A collection of papers from leading thinkers to celebrate the work of the late Wynne Godley, and his enormous contribution to the field of monetary economics. Chapters include in-depth discussions of the revolutionary economic modelling systems that Godley introduced, as well as his prescient concerns about the global financial crash.
This book goes behind the story of the Federal Republic of Germany to examine the principles underpinning the "economic miracle". It examines the intellectual origins and history of the concept of the Social Market Economy, and its implementation in the years of post-war devastation and recovery.
Introduces a coherent short list of core macroeconomics principles and reinforces them by illustrating and applying them in numerous contexts. This title asks students periodically to apply these principles and to answer related questions and exercises.
Provides an integrated framework for the study of urban and regional economics. This book provides an introduction to the main foundational models, principles, and theories of the subject, including Classical, Neo-classical, and Keynesian approaches, and uses a range of international examples to illustrate the ideas being explained.
This book seeks to explore the development and policy implications of South-South migration, specifically with regard to the role and challenges for social policy. It examines the linkages and impact of migration on gender and care regimes, human resource flows, remittances, poverty, and political organizations by or for migrants.
Macroeconomics, eighth edition, retains all of the improvements achieved in its pre-decessor with it thorough and detailed presentation of modern economics, emphasis on real-world examples and critical thinking skills, diagrams renowned for pedagogy and precision, and path-breaking technology
Steve Slavin's lively and comprehensive Macroeconomics has a student-friendly, step-by-step approach; value pricing; and a built-in Workbook/Study Guide. Instructors and students like the authors humorous anecdotes, direct language, and easy conversational style. The text encourages active rather than passive reading.
Now revised and updated, this volume offers the latest edition of the very successful macroeconomics textbook. The authors deal with sophisticated issues using advanced economic theory, but in a manner that is accessible to anyone taking a single course in macroeconomics.
Former editions of this work have become established textbook presentations of the equilibrium approach to macroeconomics. This latest edition includes theoretical and empirical developments in economic growth, and evidence on the macroeconomics of labour markets and public finance.
Now revised and updated, this volume offers the latest edition of the very successful macroeconomics textbook. The authors deal with sophisticated issues using advanced economic theory, but in a manner that is accessible to anyone taking a single course in macroeconomics.
Since the financial meltdown of 2008, economists, journalists, and Americans of all political stripes have come to believe that to restore the American Dream and renew economic growth, we need to save more and spend less. The author argues that consumption - not more saving and investment - represents America's path to renewed prosperity.
This book presents a comprehensive and authoritative summary of modern approaches to macroeconomics. The book also provides a good survey of topics which feature prominently in the research agenda. This is the first in a promising new series of Ryde Lectures, which were established by Lund University in Sweden.
Macroeconomics is that part of economics that focuses on economic growth and economic fluctuations. In a world under the push and pull of globalisation, it becomes crucial for the Developed Countries as well as the Developing Countries. This book provides insight into the international financial rippling around the world.
We have become so used to the speed of our global financial system, that it is easy to forget that it is a relatively recent phenomenon. This book traces this system's evolution from its beginnings in the 18th century, outlining the growth of financial markets and the development of bond trading.
Focusing on the "golden age" of capitalism in the 1950s and 1960s, this text explores the roles government should be assigned, and which government actions are useful public policy as opposed to those that represent unnecessary and harmful intervention.
Taking a view of inequality as encompassing the distribution of wealth, risk, status, and well-being, this work explores how institutions, individuals, and coalitions contribute to the often surprising twists and turns of distributive politics. It identifies a variety of psychological and institutional factors that influence distributive outcomes.
The new edition of this bestselling textbook covers Macroeconomics today, balancing short-run and long-run issues in a way that emphasises the relevance of Keynesian and classical ideas to current practice. Featuring the latest data and extensive coverage of the current financial crisis, it is the ideal textbook for uncertain economic times.
Ever wonder what economic factors might help determine your first job after college? If a tax on soda would really reduce obesity? What factors have affected housing prices? Or whether a tax rebate is better than a tax bonus? This title answers these questions and many more. It includes comprehensive coverage of the financial and economic crisis.
This book analyses the development path of transition economies in European Countries and former Soviet Republics that have experienced the transformation from planned economies to market economies since the fall of the Berlin wall in 1989. It examines economic growth, institutional change and human development performance.
Aims at filling the gap between the significance of the national budget in women's lives and the lack of information about it by focusing on budget literacy. Part of a worldwide movement for more transparency and accountability in public budgeting, this book aims to provide women and others with a tool for advocacy and action.
Offering a presentation of macroeconomics, this book includes boxed features, exercises which enable students to create personalized learning paths. It equips instructors with tools to assign, grade, and record homework and quizzes. It is suitable for economics majors and nonmajors.
Reflects economic conditions, enabling students to apply economic concepts to the world around them. This text includes analysis and explanation of measures of economic activity in the market. It also includes highlights of the recession of 2008-2009, and looks at the lives and contributions of notable economists.
Offers students of various levels easy-to-understand explanations of macroeconomic principles. This work teaches the material in a college-level course. It offers a presentation of concepts, applications, and examples, with the mix of text and graphics.
Engaging authors, unbiased presentations of essential ideas, and a knack for revealing the 'invisible hand' of economics at work inform the thoroughly updated new edition of Modern Principles, drawing on a wealth of captivating applications to show readers how economics shed light on business, politics, world affairs, and everyday life.
Why did Western countries become so much wealthier than the rest of the world? And what explains the huge rise in incomes during the Industrial Revolution - and why did Britain lead the way? This title offers a perspective for understanding Britain's extraordinary rise during the Industrial Revolution.
This volume offers a novel, highly mathematical approach to the solution of very realistic economy control problems. It presents strong examples of the application of mathematical modeling, advanced control theory, and model-based decision making that could be adopted by researchers and graduate students.
Looks at the fundamental importance of employment for development. This book states that employment creation is the key link in ensuring that economic growth contributes to poverty reduction. It also explores different approaches to social security, the informal economy, the welfare state and rural employment in Africa.
In a world where trade, trust, and information flow through ethnic networks, the nation that values open borders and encourages the growth of its diaspora populations will be the superpower of the twenty-first century. With on-the-ground reporting from dozens of countries, this is a timely look at the forces greater than national boundaries.
Shows that time series methods are useful in developing structural models for policy and forecasting. This book aims to show that alternative techniques such as JML and GETS are highly useful. It guides applied researchers in developing large-scale policy models.
Provides a comprehensive study of the developments in the Indian consumer protection law, examining the provisions of various other statutes dealing with consumer protection. This book also provides insight into consumer behaviour to help marketers develop an appropriate marketing strategy.
The influence of the economists type thinking in social sciences is bringing about a theoretical integration of all the social sciences under one overarching paradigm. The chapters of the book illustrate the intellectual advances that account for this unified view of economies and societies.