The Friedman Lucas Transition In Macroeconomics

Author : Peter Galbács
Publisher : Academic Press
Page : 400 pages
File Size : 42,6 Mb
Release : 2020-02-20
Category : Business & Economics
ISBN : 9780128165539

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The Friedman-Lucas Transition in Macroeconomics by Peter Galbács Pdf

The Friedman-Lucas Transition in Macroeconomics: A Structuralist Approach considers how and to what extent monetarist and new classical theories of the business-cycle can be regarded as approximately true descriptions of a cycle’s causal structure or whether they can be no more than useful predictive instruments. This book will be of interest to upper-division undergraduates, graduate students, researchers and professionals concerned with practical, theoretical and historical aspects of macroeconomics and business-cycle modeling. Offers a wide selection of Robert Lucas’s unpublished works Discusses the history of business-cycle theories in the context of methodological advancements Suggests effective arguments for emphasizing the key role of representative agents and their assumed properties in macro-modeling

Author : Peter Galbács
Publisher : Academic Press
Page : 400 pages
File Size : 50,9 Mb
Release : 2020-03-04
Category : Business & Economics
ISBN : 9780128165652

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The Friedman-Lucas Transition in Macroeconomics by Peter Galbács Pdf

The Friedman-Lucas Transition in Macroeconomics: A Structuralist Approach considers how and to what extent monetarist and new classical theories of the business-cycle can be regarded as approximately true descriptions of a cycle's causal structure or whether they can be no more than useful predictive instruments. This book will be of interest to upper-division undergraduates, graduate students, researchers and professionals concerned with practical, theoretical and historical aspects of macroeconomics and business-cycle modeling. Offers a wide selection of Robert Lucas's unpublished works Discusses the history of business-cycle theories in the context of methodological advancements Suggests effective arguments for emphasizing the key role of representative agents and their assumed properties in macro-modeling

Author : Thomas J. Sargent
Publisher : Unknown
Page : 28 pages
File Size : 40,6 Mb
Release : 1987
Category : Macroeconomics
ISBN : NWU:35556021536560

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Some of Milton Friedman's Scientific Contributions to Macroeconomics by Thomas J. Sargent Pdf

Author : Michel De Vroey
Publisher : Cambridge University Press
Page : 451 pages
File Size : 49,6 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 : Brian Snowdon,Howard Vane
Publisher : Routledge
Page : 689 pages
File Size : 42,7 Mb
Release : 1997-07-10
Category : Business & Economics
ISBN : 9781134729098

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A Macroeconomics Reader by Brian Snowdon,Howard Vane Pdf

This book brings together a collection of key readings in modern macroeconomics. Each article has been chosen to provide the reader with accessible, non-technical papers which assess the controversies within modern macroeconomics.

Author : Arjo Klamer
Publisher : Brighton, Sussex : Wheatsheaf Books
Page : 288 pages
File Size : 55,6 Mb
Release : 1984
Category : Economic policy
ISBN : NWU:35556018774745

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The New Classical Macroeconomics by Arjo Klamer Pdf

Author : Abraham Hirsch,Neil De Marchi
Publisher : University of Georgia Press
Page : 346 pages
File Size : 44,9 Mb
Release : 1990
Category : Business & Economics
ISBN : UOM:39015017017388

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Milton Friedman by Abraham Hirsch,Neil De Marchi Pdf

This work aims to place Milton Friedman's methodology as an economist advocating monetary growth rules, market deregulation and other radical "positive" economic ideas, in the broad perspective of the evolution of ideas over the past 100 years concerning the nature of economics and its future.

Author : James Forder
Publisher : Springer
Page : 489 pages
File Size : 53,5 Mb
Release : 2019-07-05
Category : Business & Economics
ISBN : 9781137387844

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Milton Friedman by James Forder Pdf

This book examines the work of Milton Friedman, which is amongst the most significant in modern economics and, equally, amongst the most contentious. Although Friedman became most famous for his views on money and monetary policy as well as his public writings, a large and important part of his work concerned other aspects of economics. All parts of Friedman’s work are considered here, as is his account of his own life. By focussing on what Friedman wrote rather than what later authors have written about him, this volume seeks to analyse the character, qualities and development of the arguments he made. This text is important for anyone interested in this both celebrated and reviled figure in economics. James Forder clarifies messages in Friedman’s writing that have otherwise so often been obscured by academic and public controversy.

Author : K. Hemachandran,Raja Sarath Kumar Boddu,Waseem Alhasan
Publisher : Springer Nature
Page : 576 pages
File Size : 55,8 Mb
Release : 2023-09-26
Category : Computers
ISBN : 9789464632224

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Proceedings of the 2023 2nd International Conference on Artificial Intelligence, Internet and Digital Economy (ICAID 2023) by K. Hemachandran,Raja Sarath Kumar Boddu,Waseem Alhasan Pdf

This is an open access book. With the continuous upgrading of network information technology, especially the combination of Internet - cloud computing - blockchain - Internet of things and other information technologies with social and economic activities, through the improvement of artificial intelligence, Internet and big data with high quality and fast processing efficiency, the economic form is transformed from industrial economy to information economy. This will greatly reduce social transaction costs, improve the efficiency of resource optimization, increase the added value of products, enterprises and industries, and promote the rapid development of social productivity. 2023 2nd International Conference on Artificial Intelligence, the Internet and the Digital Economy (ICAID 2023) will continue to focus on the latest research on "Artificial intelligence, the Internet and the Digital Economy", and expand the research on "technology and application of the integrated development of Digital Economy and Artificial Intelligence" as the theme. The aim is to gather experts, scholars, researchers and related practitioners from around the world to share research results, discuss hot issues, and provide participants with cutting-edge technology information so that they can keep abreast of industry developments, the latest technologies and broaden their research horizons. The conference was held in Beijing, China on April 21-23, 2023. All experts and scholars are welcome to attend.

Author : Lawrence A. Boland
Publisher : Oxford University Press
Page : 200 pages
File Size : 47,9 Mb
Release : 2017-04-21
Category : Business & Economics
ISBN : 9780190274351

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Equilibrium Models in Economics by Lawrence A. Boland Pdf

The concept of equilibrium is fundamental to economic theory, according to which, it exists when supply and demand are balanced. Equilibrium Models in Economics critically examines the major problematic assumptions employed to build equilibrium models. It gives particular attention to the assumptions used to characterize learning, knowledge and expectations. Lawrence Boland here explores whether equilibrium models can provide a realistic explanation of economic events and objects such as prices, market demands and market supplies. He traces how the different perspectives on equilibrium models represented by such creators as Kenneth Arrow, Robert Clower, and George Richardson influenced subsequent developments in economics. A key debate is about the comparative importance of whether equilibrium refers to a state of an actual economy or a property of a formal mathematical model. Another is the extent that the distinction between a model's exogenous vs. endogenous variables involves causality. Also explored are more recent efforts provided by behavioral, evolutionary, and complexity economics-whether they might change how economics is practiced in the future and how they could. Equilibrium Models in Economics is a trenchant exploration of how the discipline has grappled with attempts to understand and explain the way information, knowledge, and the expectations of actors participating in the economy influence outcomes and behavior. It presents a realistic, workable theory of knowledge and learning, simulating how decision makers and other actors operate in fast-changing equilibrium conditions.

Author : Jagdish Handa
Publisher : Routledge
Page : 1199 pages
File Size : 47,8 Mb
Release : 2008-09-18
Category : Business & Economics
ISBN : 9781135981839

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Monetary Economics by Jagdish Handa Pdf

This successful text, now in its second edition, offers the most comprehensive overview of monetary economics and monetary policy currently available. It covers the microeconomic, macroeconomic and monetary policy components of the field. Major features of the new edition include:Stylised facts on money demand and supply, and the relationships betw

Author : Lars Ljungqvist,Thomas J. Sargent
Publisher : MIT Press
Page : 1477 pages
File Size : 40,9 Mb
Release : 2018-09-11
Category : Business & Economics
ISBN : 9780262038669

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Recursive Macroeconomic Theory, fourth edition by Lars Ljungqvist,Thomas J. Sargent Pdf

The substantially revised fourth edition of a widely used text, offering both an introduction to recursive methods and advanced material, mixing tools and sample applications. Recursive methods provide powerful ways to pose and solve problems in dynamic macroeconomics. Recursive Macroeconomic Theory offers both an introduction to recursive methods and more advanced material. Only practice in solving diverse problems fully conveys the advantages of the recursive approach, so the book provides many applications. This fourth edition features two new chapters and substantial revisions to other chapters that demonstrate the power of recursive methods. One new chapter applies the recursive approach to Ramsey taxation and sharply characterizes the time inconsistency of optimal policies. These insights are used in other chapters to simplify recursive formulations of Ramsey plans and credible government policies. The second new chapter explores the mechanics of matching models and identifies a common channel through which productivity shocks are magnified across a variety of matching models. Other chapters have been extended and refined. For example, there is new material on heterogeneous beliefs in both complete and incomplete markets models; and there is a deeper account of forces that shape aggregate labor supply elasticities in lifecycle models. The book is suitable for first- and second-year graduate courses in macroeconomics. Most chapters conclude with exercises; many exercises and examples use Matlab or Python computer programming languages.

Author : Lars Peter Hansen,Thomas J. Sargent
Publisher : Princeton University Press
Page : 453 pages
File Size : 43,6 Mb
Release : 2016-06-28
Category : Business & Economics
ISBN : 9780691170978

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Robustness by Lars Peter Hansen,Thomas J. Sargent Pdf

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. This assumes that the decision maker trusts the model completely. But what should a decision maker do if the model cannot be trusted? Lars Hansen and Thomas Sargent, two leading macroeconomists, push the field forward as they set about answering this question. They adapt robust control techniques and apply them to economics. By using this theory to let decision makers acknowledge misspecification in economic modeling, the authors develop applications to a variety of problems in dynamic macroeconomics. Technical, rigorous, and self-contained, this book will be useful for macroeconomists who seek to improve the robustness of decision-making processes.

Author : Bruna Ingrao,Claudio Sardoni
Publisher : Edward Elgar Publishing
Page : 456 pages
File Size : 53,9 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 : Ping Chen
Publisher : Routledge
Page : 585 pages
File Size : 54,5 Mb
Release : 2010-04-05
Category : Business & Economics
ISBN : 9781136994876

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Economic Complexity and Equilibrium Illusion by Ping Chen Pdf

The Principle of Large Numbers indicates that macro fluctuations have weak microfoundations; persistent business cycles and interrupted technologies can be better characterized by macro vitality and meso foundations. Economic growth is limited by market extent and ecological constraints. The trade-off between stability and complexity is the foundation of cultural diversity and mixed economies. The new science of complexity sheds light on the sources of economic instability and complexity. This book consists of the major work of Professor Ping Chen, a pioneer in studying economic chaos and economic complexity. They are selected from works completed since 1987, including original research on the evolutionary dynamics of the division of labour, empirical and theoretical studies of economic chaos and stochastic models of collective behavior. Offering a new perspective on market instability and the changing world order, the basic pillars in equilibrium economics are challenged by solid evidence of economic complexity and time asymmetry, including Friedman’s theory of exogenous money and efficient market, the Frisch model of noise-driven cycles, the Lucas model of microfoundations and rational expectations, the Black-Scholes model of option pricing, and the Coase theory of transaction costs. Throughout, a general theory based on complex evolutionary economics is developed, which integrates different insights from Marx, Marshall, Schumpeter, Keynes and offers a new understanding of the evolutionary history of division of labour. This book will be of interest to postgraduates and researchers in Economics, including macroeconomics, financial economics, advanced econometrics and economic methodology.