Rethinking Macroeconomics

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Rethinking Macroeconomics

John F. McDonald
Rethinking Macroeconomics Book PDF

Author : John F. McDonald
Publisher : Taylor & Francis
Page : 259 pages
File Size : 44,7 Mb
Release : 2021-09-12
Category : Business & Economics
ISBN : 9781000434699

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Rethinking Macroeconomics by John F. McDonald Pdf

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.

Evolution or Revolution?

Olivier Blanchard,Lawrence H. Summers
Evolution or Revolution Book PDF

Author : Olivier Blanchard,Lawrence H. Summers
Publisher : MIT Press
Page : 388 pages
File Size : 52,8 Mb
Release : 2019-04-16
Category : Business & Economics
ISBN : 9780262039369

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Evolution or Revolution? by Olivier Blanchard,Lawrence H. Summers Pdf

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

Rethinking Macroeconomics with Endogenous Market Structure

Marco Mazzoli,Matteo Morini,Pietro Terna
Rethinking Macroeconomics with Endogenous Market Structure Book PDF

Author : Marco Mazzoli,Matteo Morini,Pietro Terna
Publisher : Cambridge University Press
Page : 251 pages
File Size : 40,6 Mb
Release : 2019-12-19
Category : Business & Economics
ISBN : 9781108482608

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Rethinking Macroeconomics with Endogenous Market Structure by Marco Mazzoli,Matteo Morini,Pietro Terna Pdf

"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

John F. McDonald
Rethinking Macroeconomics Book PDF

Author : John F. McDonald
Publisher : Routledge
Page : 190 pages
File Size : 52,7 Mb
Release : 2016-05-26
Category : Business & Economics
ISBN : 9781317242932

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Rethinking Macroeconomics by John F. McDonald Pdf

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.

The Blockchain Alternative

Kariappa Bheemaiah
The Blockchain Alternative Book PDF

Author : Kariappa Bheemaiah
Publisher : Apress
Page : 262 pages
File Size : 40,5 Mb
Release : 2017-02-26
Category : Computers
ISBN : 9781484226742

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The Blockchain Alternative by Kariappa Bheemaiah Pdf

Examine what would happen if we were to deploy blockchain technology at the sovereign level and use it to create a decentralized cashless economy. This book explains how finance and economics work today, and how the convergence of various technologies related to the financial sector can help us find solutions to problems, such as excessive debt creation, banks getting too big to fail, and shadow banking. The Blockchain Alternative offers sensible corrections to outdated and incorrect dogmas, such as the efficient markets hypothesis and rational expectations theory. You’ll also be introduced to universal basic income, the consequences of going cashless, why complexity economics needs to be understood and what kinds of tools and theories you'll need to redefine the existing definition of capitalism. While the book does discuss technologies and methods that are primed for our future, a number of references are made to economic history and the works of great thinkers from a different era. You’ll see how the blockchain can be used to deploy solutions that were devised in the past, but which can serve as the antidote to our current economic malaises. You'll discover that what is required today is not an adaptation of the old theories, but a new methodology that is suited to this new era. Without undertaking such an endeavor, one will always be burdened with a definition of capitalism that is out of kilter with the evolution of our digital humanity. What would this mean to monetary and fiscal policy, market structure and our current understanding of economics? More importantly would we need to change our current understanding of capitalism? And if we were to change our perceptions, what would the future version look like? This book answers these questions, and analyses some of the most pertinent issues of our generation. What You’ll Learn Examine fractional banking, debt, and the financialization of assets Gain a firm understanding of the “too big to fail” theory, smart contracts, and Fintech Review economics and agent-based modelling Use the blockchain and complexity economics to rethink economics and capitalistic systems Who This Book Is For The primary audience is bankers and other finance professionals, policy makers, and students of finance and economics. The secondary audience is anyone seeking a deeper understanding of the current financial system, the blockchain, and the future of capitalism. Praise for The Blockchain Alternative “...a bold and pioneering effort to make sense of how emerging digital technologies might be used to reshape public policies, including macroeconomic and social policies, in basic ways. Everyone interested in this very important emerging question should read this book." - Dr. Sanjay G. Reddy, Associate Professor of Economics at The New School for Social Research and Research Associate of the Initiative for Policy Dialogue at Columbia University. “Writing on blockchain today is analogous to writing about the internet, before it became massively distributed. The book pushes us to think about the quantum leap that this technology may infer to our capitalist model, if scaled at the pace described by the book. Written with the support of strong empirical models but also with an open mind towards the future, this is a must read for anyone interested in becoming part of the new economic infrastructure” - Dr. Mark Esposito, Harvard University’s Division of Continuing Education & Judge Business School, University of Cambridge “With a rigorously balanced dosage of versatility and rationale we are allured into a multifaceted trajectory across ingrained yet functionally arcane economic models, only to plunge into a conceptually revolutionary realm which irreversibly stimulates us into envisaging a fascinating novel scheme of world order”. - Ioana Surpateanu, Political Adviser to the European Parliament “If there is only one book that I am reading on how blockchain is going to change our lives, it will have to be "The Blockchain Alternative." - Dr. Terence Tse, Associate Professor of Finance, ESCP Europe Business School

Rethinking Development Economics

Ha-Joon Chang
Rethinking Development Economics Book PDF

Author : Ha-Joon Chang
Publisher : Anthem Press
Page : 556 pages
File Size : 44,7 Mb
Release : 2003
Category : Business & Economics
ISBN : 9781843311102

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Rethinking Development Economics by Ha-Joon Chang Pdf

This title represents the most forward thinking and comprehensive review of development economics currently available.

Rethinking Macroeconomics for Sustainability

Alejandro Nadal Egea
Rethinking Macroeconomics for Sustainability Book PDF

Author : Alejandro Nadal Egea
Publisher : Unknown
Page : 235 pages
File Size : 51,9 Mb
Release : 2021
Category : Economic development
ISBN : 1350222321

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Rethinking Macroeconomics for Sustainability by Alejandro Nadal Egea Pdf

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.

Rethinking Expectations

Roman Frydman,Edmund S. Phelps
Rethinking Expectations Book PDF

Author : Roman Frydman,Edmund S. Phelps
Publisher : Princeton University Press
Page : 440 pages
File Size : 53,5 Mb
Release : 2013-01-23
Category : Business & Economics
ISBN : 9781400846450

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Rethinking Expectations by Roman Frydman,Edmund S. Phelps Pdf

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.

Rethinking the Economics of Land and Housing

Josh Ryan-Collins,Toby Lloyd,Laurie Macfarlane
Rethinking the Economics of Land and Housing Book PDF

Author : Josh Ryan-Collins,Toby Lloyd,Laurie Macfarlane
Publisher : Zed Books Ltd.
Page : 214 pages
File Size : 50,8 Mb
Release : 2017-02-28
Category : Business & Economics
ISBN : 9781786991218

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Rethinking the Economics of Land and Housing by Josh Ryan-Collins,Toby Lloyd,Laurie Macfarlane Pdf

Why are house prices in many advanced economies rising faster than incomes? Why isn’t land and location taught or seen as important in modern economics? What is the relationship between the financial system and land? In this accessible but provocative guide to the economics of land and housing, the authors reveal how many of the key challenges facing modern economies - including housing crises, financial instability and growing inequalities - are intimately tied to the land economy. Looking at the ways in which discussions of land have been routinely excluded from both housing policy and economic theory, the authors show that in order to tackle these increasingly pressing issues a major rethink by both politicians and economists is required.

Rethinking the Theory of Money, Credit, and Macroeconomics

John Smithin
Rethinking the Theory of Money Credit and Macroeconomics Book PDF

Author : John Smithin
Publisher : Rowman & Littlefield
Page : 258 pages
File Size : 46,5 Mb
Release : 2018-09-15
Category : Business & Economics
ISBN : 9781498542821

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Rethinking the Theory of Money, Credit, and Macroeconomics by John Smithin Pdf

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.

Rethinking Macroeconomics for Sustainability

Alejandro Nadal
Rethinking Macroeconomics for Sustainability Book PDF

Author : Alejandro Nadal
Publisher : Bloomsbury Publishing
Page : 355 pages
File Size : 55,7 Mb
Release : 2011-01-13
Category : Business & Economics
ISBN : 9781780320816

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Rethinking Macroeconomics for Sustainability by Alejandro Nadal Pdf

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.

A Modern Guide to Rethinking Economics

Louis-Philippe Rochon,Sergio Rossi
A Modern Guide to Rethinking Economics Book PDF

Author : Louis-Philippe Rochon,Sergio Rossi
Publisher : Edward Elgar Publishing
Page : 464 pages
File Size : 52,8 Mb
Release : 2017-04-28
Category : Electronic
ISBN : 9781784717216

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A Modern Guide to Rethinking Economics by Louis-Philippe Rochon,Sergio Rossi Pdf

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.

New Structural Economics

Justin Yifu Lin
New Structural Economics Book PDF

Author : Justin Yifu Lin
Publisher : World Bank Publications
Page : 389 pages
File Size : 45,6 Mb
Release : 2012-01-01
Category : Business & Economics
ISBN : 9780821389577

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New Structural Economics by Justin Yifu Lin Pdf

This book provides an innovative framework to analyze the process of industrial upgrading and diversification, a key feature of economic development. Based on this framework, it provides concrete advice to development practitioners and policy makers on how to unleash a country's growth potential.

Rethinking Capitalism

Michael Jacobs,Mariana Mazzucato
Rethinking Capitalism Book PDF

Author : Michael Jacobs,Mariana Mazzucato
Publisher : John Wiley & Sons
Page : 224 pages
File Size : 52,6 Mb
Release : 2016-07-21
Category : Political Science
ISBN : 9781119311638

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Rethinking Capitalism by Michael Jacobs,Mariana Mazzucato Pdf

"Thought provoking and fresh - this book challenges how we think about economics.” Gillian Tett, Financial Times For further information about recent publicity events and media coverage for Rethinking Capitalism please visit http://marianamazzucato.com/rethinking-capitalism/ Western capitalism is in crisis. For decades investment has been falling, living standards have stagnated or declined, and inequality has risen dramatically. Economic policy has neither reformed the financial system nor restored stable growth. Climate change meanwhile poses increasing risks to future prosperity. In this book some of the world’s leading economists propose new ways of thinking about capitalism. In clear and compelling prose, each chapter shows how today’s deep economic problems reflect the inadequacies of orthodox economic theory and the failure of policies informed by it. The chapters examine a range of contemporary economic issues, including fiscal and monetary policy, financial markets and business behaviour, inequality and privatisation, and innovation and environmental change. The authors set out alternative economic approaches which better explain how capitalism works, why it often doesn’t, and how it can be made more innovative, inclusive and sustainable. Outlining a series of far-reaching policy reforms, Rethinking Capitalism offers a powerful challenge to mainstream economic debate, and new ideas to transform it.

Rethinking Capitalist Development

Tracy Mott,Nina Shapiro
Rethinking Capitalist Development Book PDF

Author : Tracy Mott,Nina Shapiro
Publisher : Routledge
Page : 256 pages
File Size : 48,6 Mb
Release : 2004-10-28
Category : Business & Economics
ISBN : 9781134722716

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Rethinking Capitalist Development by Tracy Mott,Nina Shapiro Pdf

This collection honours the work of the eminent economist Josef Steindl. Steindl's work is illuminated through a critical appraisal of its central constructs with a focus on its relevance to current economic conditions. This collection charts the thinking of one of the leading economic theorists of the twentieth century.