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Author: Servaas Storm
Publisher: Harvard University Press
Published: 2012-01-02
Total Pages: 303
ISBN-13: 9780674062276
DOWNLOAD EBOOKThe 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.
Author: Michel De Vroey
Publisher: Cambridge University Press
Published: 2016-01-08
Total Pages: 451
ISBN-13: 0521898439
DOWNLOAD EBOOKThis book retraces the history of macroeconomics from Keynes's General Theory to the present. Central to it is the contrast between a Keynesian era and a Lucasian - or dynamic stochastic general equilibrium (DSGE) - era, each ruled by distinct methodological standards. In the Keynesian era, the book studies the following theories: Keynesian macroeconomics, monetarism, disequilibrium macro (Patinkin, Leijongufvud, and Clower) non-Walrasian equilibrium models, and first-generation new Keynesian models. Three stages are identified in the DSGE era: new classical macro (Lucas), RBC modelling, and second-generation new Keynesian modeling. The book also examines a few selected works aimed at presenting alternatives to Lucasian macro. While not eschewing analytical content, Michel De Vroey focuses on substantive assessments, and the models studied are presented in a pedagogical and vivid yet critical way.
Author: Joseph E. Stiglitz
Publisher: Springer
Published: 2016-04-29
Total Pages: 212
ISBN-13: 113752958X
DOWNLOAD EBOOKIn this edited collection, Joseph Stiglitz and Martin Guzman present a series of studies on contemporary macroeconomic issues. The book discusses a set of key lessons for macroeconomic theory following the recent global financial crisis and explores unconventional monetary policy in a post-crisis world. This volume is divided into five parts. The introduction includes keynote speeches by the Governors of the Bank of Japan and Central Bank of Jordan. Part one focuses on macroeconomic theory for understanding macroeconomic fluctuations and crises. Part two addresses the issue of the measurement of wealth. Part three discusses macroeconomic policies in times of crises. Finally, part four focuses on central banking and monetary policy.
Author: Ajay Agrawal
Publisher: University of Chicago Press
Published: 2024-03-05
Total Pages: 172
ISBN-13: 0226833127
DOWNLOAD EBOOKA timely investigation of the potential economic effects, both realized and unrealized, of artificial intelligence within the United States healthcare system. In sweeping conversations about the impact of artificial intelligence on many sectors of the economy, healthcare has received relatively little attention. Yet it seems unlikely that an industry that represents nearly one-fifth of the economy could escape the efficiency and cost-driven disruptions of AI. The Economics of Artificial Intelligence: Health Care Challenges brings together contributions from health economists, physicians, philosophers, and scholars in law, public health, and machine learning to identify the primary barriers to entry of AI in the healthcare sector. Across original papers and in wide-ranging responses, the contributors analyze barriers of four types: incentives, management, data availability, and regulation. They also suggest that AI has the potential to improve outcomes and lower costs. Understanding both the benefits of and barriers to AI adoption is essential for designing policies that will affect the evolution of the healthcare system.
Author: David Colander
Publisher: Cambridge University Press
Published: 2006-07-17
Total Pages: 33
ISBN-13: 1139459058
DOWNLOAD EBOOKMacroeconomics is evolving in an almost dialectic fashion. The latest evolution is the development of a new synthesis that combines insights of new classical, new Keynesian and real business cycle traditions into a dynamic, stochastic general equilibrium (DSGE) model that serves as a foundation for thinking about macro policy. That new synthesis has opened up the door to a new antithesis, which is being driven by advances in computing power and analytic techniques. This new synthesis is coalescing around developments in complexity theory, automated general to specific econometric modeling, agent-based models, and non-linear and statistical dynamical models. This book thus provides the reader with an introduction to what might be called a Post Walrasian research program that is developing as the antithesis of the Walrasian DSGE synthesis.
Author: Lance Taylor
Publisher: Harvard University Press
Published: 2010
Total Pages: 399
ISBN-13: 0674050460
DOWNLOAD EBOOKIt is now widely agreed that mainstream macroeconomics is irrelevant and that there is need for a more useful and realistic economic analysis that can provide a better understanding of the ongoing global financial and economic crisis. Lance Taylor’s book exposes the unrealistic assumptions of the rational expectations and real business cycle approaches and of mainstream finance theory. It argues that in separating monetary and financial behavior from real behavior, they do not address the ways that consumption, accumulation, and the government play in the workings of the economy. Taylor argues that the ideas of J. M. Keynes and others provide a more useful framework both for understanding the crisis and for dealing with it effectively. Keynes’s basic points were fundamental uncertainty and the absence of Say’s Law. He set up machinery to analyze the macro economy under such circumstances, including the principle of effective demand, liquidity preference, different rules for determining commodity and asset prices, distinct behavioral patterns of different collective actors, and the importance of thinking in terms of complete macro accounting schemes. Economists working in this tradition also worked out growth and cycle models. Employing these ideas throughout Maynard’s Revenge, Taylor provides an analytical narrative about the causes of the crisis, and suggestions for dealing with it.
Author: José Antonio Ocampo
Publisher: Stanford University Press
Published: 2005
Total Pages: 260
ISBN-13: 9780804752732
DOWNLOAD EBOOKThis collection presents the difficult challenges of the new economic era as well as a set of alternative economic policies for managing the open Latin American economies of the early twenty-first century. Ideas that were removed from the reform agenda over the past two decades are seen as critical to the improved economic and social performance that liberalization has so far failed to produce. These ideas include a role for counter-cyclical macroeconomic policies, including restrictions on capital mobility; active productive sector and technological development policies; and the need to pay greater attention not only to social policies, but also to the links between economic policies and social outcomes, in order to guarantee a desirable social performance. This collection sheds new light on issues that were largely overlooked during the reform period, and that must be faced squarely to overcome the deficiencies that Latin America has faced during its phase of liberalization and its dismal economic performance since the Asian crisis.
Author: Jeffrey Sachs
Publisher:
Published: 1993
Total Pages: 808
ISBN-13:
DOWNLOAD EBOOKTakes an open economy approach to macroeconomics, and includes macro theory at work in Russia, Poland and Bolivia.* a focus throughout the book on the global economy and the international aspects of macroeconomics recognizes that all economies in the world are linked through international markets for goods, services, and capital. Open-economy models are used throughout the book. * the ways that countries differ in their important macroeconomic institutions (such as in the patterns of wage setting) are carefully examined, and then those institutional differences are related to observed differences in macroeconomic performance. * recent advances in macroeconomic theory are covered, particularly regarding the role of expectations; the intertemporal choices of households, firms, and the government; and the modern theory of economic policy, including the problems of time consistency and international policy coordination. * boxed features examine topics of interest including Social Security and Saving, The Central Bank and Politics, Currency Convertibility, The Sacrifice Ratio and the Reagan Disinflation, and Social Development and the Debt Crisis. * each chapter concludes with
Author: Stephanie Schmitt-Grohé
Publisher: Princeton University Press
Published: 2022-09-06
Total Pages: 482
ISBN-13: 0691170649
DOWNLOAD EBOOKAn essential introduction to one of the most timely and important subjects in economics International Macroeconomics presents a rigorous and theoretically elegant treatment of real-world international macroeconomic problems, incorporating the latest economic research while maintaining a microfounded, optimizing, and dynamic general equilibrium approach. This one-of-a-kind textbook introduces a basic model and applies it to fundamental questions in international economics, including the determinants of the current account in small and large economies, processes of adjustment to shocks, the determinants of the real exchange rate, the role of fixed and flexible exchange rates in models with nominal rigidities, and interactions between monetary and fiscal policy. The book confronts theoretical predictions using actual data, highlighting both the power and limits of given theories and encouraging critical thinking. Provides a rigorous and elegant treatment of fundamental questions in international macroeconomicsBrings undergraduate and master’s instruction in line with modern economic researchFollows a microfounded, optimizing, and dynamic general equilibrium approachAddresses fundamental questions in international economics, such as the role of capital controls in the presence of financial frictions and balance-of-payments crisesUses real-world data to test the predictions of theoretical modelsFeatures a wealth of exercises at the end of each chapter that challenge students to hone their theoretical skills and scrutinize the empirical relevance of modelsAccompanied by a website with lecture slides for every chapter
Author: Neva Goodwin
Publisher: Routledge
Published: 2015-03-12
Total Pages: 496
ISBN-13: 1317465741
DOWNLOAD EBOOKMacroeconomics in Context lays out the principles of macroeconomics in a manner that is thorough, up to date, and relevant to students. Like its counterpart, Microeconomics in Context, the book is attuned to economic realities--and it has a bargain price. The in Context books offer affordability, engaging treatment of high-interest topics from sustainability to financial crisis and rising inequality, and clear, straightforward presentation of economic theory. Policy issues are presented in context--historical, institutional, social, political, and ethical--and always with reference to human well-being.
