Is Lm And Modern Macroeconomics

Author : Warren Young
Publisher : Springer Science & Business Media
ISBN 13 : 940100644X
Total Pages : 171 pages
Book Rating : 4.46/5 ( download)

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Download or read book IS-LM and Modern Macroeconomics written by Warren Young and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : Michel De Vroey
Publisher : Cambridge University Press
ISBN 13 : 0521898439
Total Pages : 451 pages
Book Rating : 4.30/5 ( download)

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Download or read book A History of Macroeconomics from Keynes to Lucas and Beyond written by Michel De Vroey and published by Cambridge University Press. This book was released on 2016-01-08 with total page 451 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : Ben Heijdra
Publisher : Oxford University Press, USA
ISBN 13 : 9780198784159
Total Pages : 1026 pages
Book Rating : 4.55/5 ( download)

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Download or read book Foundations of Modern Macroeconomics and Foundations of Modern Macroeconomics written by Ben Heijdra and published by Oxford University Press, USA. This book was released on 2017-11-10 with total page 1026 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : Geoffrey Woglom
Publisher : Pearson Scott Foresman
ISBN 13 :
Total Pages : 856 pages
Book Rating : 4.10/5 ( download)

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Download or read book Modern Macroeconomics written by Geoffrey Woglom and published by Pearson Scott Foresman. This book was released on 1988 with total page 856 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new textbook in macroeconmics for a college-level course.

Author : Bruna Ingrao
Publisher : Edward Elgar Publishing
ISBN 13 : 178643153X
Total Pages : 456 pages
Book Rating : 4.30/5 ( download)

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Download or read book Banks and Finance in Modern Macroeconomics written by Bruna Ingrao and published by Edward Elgar Publishing. This book was released on 2019 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : Michel de Vroey
Publisher : History of Political Economy A
ISBN 13 :
Total Pages : 358 pages
Book Rating : 4.63/5 ( download)

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Download or read book The IS-LM Model written by Michel de Vroey and published by History of Political Economy A. This book was released on 2004 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : Michael Parkin
Publisher : Deddington, Oxford : P. Allan
ISBN 13 :
Total Pages : 632 pages
Book Rating : 4.55/5 ( download)

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Download or read book Modern Macroeconomics written by Michael Parkin and published by Deddington, Oxford : P. Allan. This book was released on 1982 with total page 632 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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
Publisher : Routledge
ISBN 13 : 113472909X
Total Pages : 689 pages
Book Rating : 4.98/5 ( download)

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Download or read book A Macroeconomics Reader written by Brian Snowdon and published by Routledge. This book was released on 1997-07-10 with total page 689 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 a separate introduction highlighting the relevance of the ensuing articles. The areas covered include: Keynes's General Theory, Keynesian economics and the Keynesian revolution; monetarism; rational expectations and new classical macroeconomics; real business cycle approaches: New Keynesian economics: economic growth. This book will be an essential guide for students and lecturers in the field of macroeconomics as well as those interested in the history of economic thought.

Author : Bernhard Felderer
Publisher : Springer Science & Business Media
ISBN 13 : 9783540553182
Total Pages : 358 pages
Book Rating : 4.85/5 ( download)

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Download or read book Macroeconomics and New Macroeconomics written by Bernhard Felderer and published by Springer Science & Business Media. This book was released on 1992-08-21 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book gives a comprehensive account of traditional and more recent developments in macroeconomic theory. It is written primarily for students at the intermediate level. The book differs from the customary expositions in that the authors do not discuss topic by topic but orthodoxy by orthodoxy. Thus, the main approaches, like Classical theory, Keynesian theory, theory of portfolio selection, Monetarism, Rational Expectations theory, and Neokeynesian "disequilibrium" theory are presented in historical order. Each of these approaches is substantiated and criticized in a self-contained chapter, and the authors have taken great pains to bring out the relations and differences between them. A mathematical appendix reviews those mathematical facts which are especially important for macroeconomic models and serves to make the text easy to read.

Author : Robert J. Barro
Publisher :
ISBN 13 : 9780324545678
Total Pages : 492 pages
Book Rating : 4.73/5 ( download)

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Download or read book Macroeconomics written by Robert J. Barro and published by . This book was released on 2008 with total page 492 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offering a uniquely modern presentation of macroeconomics, this brand-new text makes it easy for instructors to emphasize a solid microfoundations, real-business cycle approach. In the all-new MACROECONOMICS: A MODERN APPROACH, leading economist and proven author Robert J. Barro couples his extraordinary command of growth, equilibrium, and business cycles with a focus on microfoundations to create a groundbreaking new macroeconomics textbook steeped in real-world application. Accessibly written and extremely student friendly, the book is packed with current policy and data examples, reflecting the author’s extensive research in the field. The book also includes captivating boxed features, challenging exercises, and innovative online resources like CengageNOW, which enables students to create personalized learning paths and equips instructors with tools to easily assign, grade, and record homework and quizzes. Covering growth theory more completely than any other text, MACROECONOMICS delivers a unified model of macroeconomics that serves well for economics majors and nonmajors alike.