Is Lm And Modern Macroeconomics

Author : Warren Young,Ben-Zion Zilberfarb
Publisher : Springer Science & Business Media
Page : 171 pages
File Size : 44,6 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9789401006446

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IS-LM and Modern Macroeconomics by Warren Young,Ben-Zion Zilberfarb Pdf

IS-LM is perhaps the prime example of `cognitive dissonance' in economics, and is problematic to many economists. On the one hand, the IS-LM model is still taught by many academic economists or they use it to derive the AD-AS approach. On the other hand, the same economists realize the limitations of the basic IS-LM model and would not now use it for policy analysis, as they did in the past. The distinction between pedagogical and analytical efficacy is made by all the authors in this volume regarding the IS-LM model. Indeed, even those who would reject using the model for modern policy analysis still see the basic model as useful for teaching purposes. Moreover, in an augmented form, some of the authors in this volume would even see fit to use IS-LM for modern policy analysis. As will be seen, therefore, the IS-LM model is `not yet dead'. Rather, the model's `plasticity' has enabled it to undergo a metamorphosis into augmented form, enabling its continuing utilization in economics accordingly.

Author : Geoffrey Woglom
Publisher : Pearson Scott Foresman
Page : 856 pages
File Size : 46,8 Mb
Release : 1988
Category : Business & Economics
ISBN : PSU:000014901010

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Modern Macroeconomics by Geoffrey Woglom Pdf

A new textbook in macroeconmics for a college-level course.

Author : Michael Parkin,Robin Bade
Publisher : Deddington, Oxford : P. Allan
Page : 632 pages
File Size : 55,5 Mb
Release : 1982
Category : Macroeconomics
ISBN : UGA:32108011679555

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Modern Macroeconomics by Michael Parkin,Robin Bade Pdf

Textbook on macroeconomics - covers the measurement of unemployment and inflation, various economic theories of prices, definition of the business cycle, the Keynesian approach to income, employment and investment, economic policy issues, etc., and includes examples taken from UK's macrohistory since 1900. Illustrations and references.

Author : Brian Snowdon,Howard R. Vane
Publisher : Edward Elgar Publishing
Page : 840 pages
File Size : 54,9 Mb
Release : 2005
Category : Business & Economics
ISBN : UCSC:32106018128741

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Modern Macroeconomics by Brian Snowdon,Howard R. Vane Pdf

Erudite, accessible and lucidly written, this book is both a stimulating introduction and excellent guide to the controversies and diversity of modern macroeconomic debates. It will prove invaluable for students on undergraduate and postgraduate courses who want to understand as well as simply learn about macroeconomics.

Author : Brian Snowdon,Howard Vane
Publisher : Routledge
Page : 692 pages
File Size : 49,6 Mb
Release : 1997-07-10
Category : Business & Economics
ISBN : 9781134729081

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A Macroeconomics Reader by Brian Snowdon,Howard Vane Pdf

A Macroeconomics Reader brings together a collection of key readings in modern macroeconomics. Each article has been carefully chosen to provide the reader with accessible, non-technical, and reflective papers which critically assess important areas and current controversies within modern macroeconomics.The book is divided into six parts, each with

Author : Michel de Vroey,Kevin D. Hoover
Publisher : History of Political Economy A
Page : 358 pages
File Size : 43,8 Mb
Release : 2004
Category : Business & Economics
ISBN : UCSC:32106017732063

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The IS-LM Model by Michel de Vroey,Kevin D. Hoover Pdf

For some twenty-five years after the end of the Second World War, the IS-LM model dominated macroeconomics. Inspired by the work of John Maynard Keynes, this model demonstrates the relationship among savings, income, investments, and interest rates, showing the point at which the interaction of these elements produces "equilibrium" in an economy. With the advent of the new classical macroeconomics in the early 1970s, the dominance of the IS-LM model was effectively challenged. While no longer central to the graduate training of most macroeconomists or to cutting-edge macroeconomic research, the IS-LM model continues to be a mainstay of undergraduate textbooks, to find wide use in applied macroeconomics, and to lie at the conceptual core of most government and commercial macroeconometric models. This volume, the annual supplement to History of Political Economy, explores the rise, the fall, and the persistence of the IS-LM model. In addition to presenting papers from the History of Political Economy conference held at Duke University in April 2003, the volume includes the text of an address delivered at the conference by Nobel laureate Robert E. Lucas Jr., one of the central players in the intellectual movement that dethroned the IS-LM model. Contributors. Roger E. Backhouse, Mauro Boianovsky, Michael Bordo, David Colander, William Darity Jr., Michel De Vroey, Robert W. Dimand, Kevin D. Hoover, David Laidler, Robert E. Lucas Jr., Edward Nelson, Goulven Rubin, Anna Schwartz, Scott Sumner, Warren Young

Author : Ben J. Heijdra
Publisher : Oxford University Press
Page : 816 pages
File Size : 47,9 Mb
Release : 2009-07-02
Category : Business & Economics
ISBN : 9780199210695

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Foundations of Modern Macroeconomics by Ben J. Heijdra Pdf

This volume deals with all the major topics, summarizes the important approaches, and gives students a coherent angle on all aspects of macroeconomic thought.

Author : Michel De Vroey
Publisher : Cambridge University Press
Page : 451 pages
File Size : 47,5 Mb
Release : 2016-01-08
Category : Business & Economics
ISBN : 9780521898430

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A History of Macroeconomics from Keynes to Lucas and Beyond by Michel De Vroey Pdf

This 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 : Warren Young,Edward W. Fuller
Publisher : Springer Nature
Page : 168 pages
File Size : 46,9 Mb
Release : 2022-01-19
Category : Business & Economics
ISBN : 9783030913427

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Reinterpreting Mr. Keynes by Warren Young,Edward W. Fuller Pdf

This book examines the origins of the IS-LM model, one of the most significant innovations in the history of economic thought. It shows that the complete IS-LM model, including the equations and diagram, was produced by a group of economists who contributed their respective mathematical models of Keynes’s General Theory, including Champernowne, Reddaway, Harrod, and Meade, not to mention Hicks. Furthermore, the book discusses the implications of newly discovered archival material, including a previously overlooked document showing that John Maynard Keynes himself was the first to present the IS-LM model equations in a lecture he gave on December 4, 1933. It focuses on the implications of this material in terms of understanding the evolution of Keynes’s approach from 1933 to 1937, later interpreters of his General Theory, and the ongoing debate between Keynesians and Post-Keynesians on the nature of his system. Given the revelations it presents, this book will transform the profession’s understanding of the origins of the IS-LM model and modern macroeconomics.

Author : L.N. Dutta
Publisher : I K International Pvt Ltd
Page : 939 pages
File Size : 46,7 Mb
Release : 2022-12-12
Category : Juvenile Nonfiction
ISBN : 9789390620890

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A Textbook Of Modern Macroeconomics by L.N. Dutta Pdf

The book Modern Macroeconomics is adornments with illustrative examples drawing on data from Indian macroeconomy to help students relate the stark theory to the real-world situations. The book is the key reading for undergraduate students, as there are new developments and complications in the world of macroeconomic over the past several years. The book contains a number of mathematical derivations and conclusions. As such, the students are expected to have a grasp on the basic mathematical techniques even though they are supported by ample graphical illustrations. The book includes ‘business cycles’ which, in most cases, originate in the form of ‘shocks’ of some kind or other, thus posing challenges to macroeconomic management. The book has dealt with, atleast, one such shock in the form of COVID-19 pandemic with its fallout on the world economy. It may be mentioned here that by the time the book was going to the ‘print’, another ‘shock’ of greater magnitude was brewing in the shape of Russia-Ukraine war, threatening to lead to World War-III. However, this macroeconomic shock could not be taken up at its premature stage.

Author : Ben J. Heijdra,Frederick van der Ploeg
Publisher : Oxford University Press, USA
Page : 751 pages
File Size : 55,9 Mb
Release : 2002
Category : Business & Economics
ISBN : 0198776179

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The Foundations of Modern Macroeconomics by Ben J. Heijdra,Frederick van der Ploeg Pdf

Advanced macroeconomics can seem a daunting prospect. Complex and poorly defined, infected with a variety of conflicting approaches, it is difficult for the student to get an overall picture of what there is and how it fits in. Foundations of Modern Macroeconomics is aimed at getting round this fundamental problem: it deals with all the major topics, summarizes the important approaches, and gives students a coherent angle on all aspects of macroeconomic thought. Each chapter deals with a separate area of macroeconomics, and each contains a summary section of key points and a further reading list, enabling the student to check what has been learnt and investigate further in other books.

Author : Ben Heijdra,Professor of Macroeconomics Ben Heijdra
Publisher : Oxford University Press, USA
Page : 1026 pages
File Size : 42,9 Mb
Release : 2017-11-10
Category : Business & Economics
ISBN : 0198784155

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Foundations of Modern Macroeconomics and Foundations of Modern Macroeconomics by Ben Heijdra,Professor of Macroeconomics Ben Heijdra Pdf

This pack combines a key text in macroeconomics with an invaluable accompanying manual. Consisting of the third edition of Foundations of Modern Macroeconomics and Foundations of Modern Macroeconomics: Exercise and Solutions Manual, it couples together complementary titles in a great value set. The study of macroeconomics can seem a daunting project. The field is complex and sometimes poorly defined and there are a variety of competing approaches. Foundations of Modern Macroeconomics is a guide book for the interested and ambitious student. Non-partisan in its approach, it deals with all the major topics, summarising the important approaches and providing the reader with a coherent angle on all aspects of macroeconomic thought. Each chapter deals with a separate area of macroeconomics, and each contains a summary section of key points and a further reading list. Using nothing more than undergraduate mathematical skills, it takes the student from basic IS-LM style macro models to the state of the art literature on Dynamic Stochastic General Equilibrium, explaining the mathematical tricks used where they are first introduced. Designed to complement the third edition of Foundations of Modern Macroeconomics, the Exercise and Solutions Manual enables students to further sharpen their skills in macroeconomic formulation and solution. It uses worked example models to enable self-study and to allow the reader to begin to build their own models. Both fully updated and substantially revised, these new editions include brand new problems and numerical examples alongside previously uncovered and highly topical subjects such as dynamic programming, competitive risk sharing equilibria and the New Keynesian DSGE approach.

Author : European University Institute
Publisher : Totowa, N.J. : Barnes & Noble
Page : 232 pages
File Size : 42,5 Mb
Release : 1983
Category : Business & Economics
ISBN : IND:39000004050642

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Modern Macroeconomic Theory by European University Institute Pdf

Author : Bruna Ingrao,Claudio Sardoni
Publisher : Edward Elgar Publishing
Page : 456 pages
File Size : 40,6 Mb
Release : 2019
Category : Banks and banking
ISBN : 9781786431530

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Banks and Finance in Modern Macroeconomics by Bruna Ingrao,Claudio Sardoni Pdf

The world financial crisis of 2007–2008 dramatically showed the importance of credit and financial relations for the efficient working of the economy. For a long time mainstream macroeconomics ignored these aspects and concentrated only on the real sector or just took into account the most elementary picture of the financial side of the economy. This book aims at explaining why this happened through an historical excursion of 20th century mainstream macroeconomic theory.

Author : Mohammad Hossein Zavareh
Publisher : GRIN Verlag
Page : 27 pages
File Size : 41,5 Mb
Release : 2013-01-14
Category : Business & Economics
ISBN : 9783656351368

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Income-expenditure model and the multiplier - The IS-LM Model by Mohammad Hossein Zavareh Pdf

Seminar paper from the year 2010 in the subject Economics - Macro-economics, general, grade: 2,3, Berlin School of Economics and Law, language: English, abstract: Table of Contents: 1.) Income-expenditure model and the multiplier a) Please explain the income-expenditure model for a closed economy whithout a government with the help of a figure b) The following data for consumption (C) and private net investment is given: C = 50 + 0.9Y, I = 100. Please calculate the equilibrium values for income, consumption, saving and investment, and derive the investment-income multiplier. c) Please explain the paradox of thrift making use of the example in 1b. d) What happens to equilibrium income, consumption, saving and investment, when we introduce government spending (G = 100), completely financed by a tax on wealth, into the model? Explain your results. 3.) The IS-LM model a) Please explain the IS-LM model with the help of a figure. What are the basic assumptions and what are the main conclusions? b) Please explain how fiscal and monetary policies can affect the equilibrium. Which policy should be applied in a deep recession? c) Which are the problems of the IS-LM model in your view? 4.) Money and credit market from a modern Keynesian perspective a) Explain the relationship between the money and the credit market from a Keynesian perspective making use of a 4-quadrant figure. b) How can the central bank affect the equilibrium on the credit market? c) Discuss the effectiveness of expansionary monetary policies in a severe crisis.