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Essays On The Microeconomic Foundations Of Macroeconomics
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Book Synopsis A Critical Essay on Modern Macroeconomic Theory by : Frank Hahn
Download or read book A Critical Essay on Modern Macroeconomic Theory written by Frank Hahn and published by MIT Press. This book was released on 1997 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the early 1980s, rational expectations and new classical economics dominated macroeconomic theory. This essay evolved from theauthors' profound disagreement with that trend. It demonstrates notonly how the new classical view got macroeconomics wrong, but also howto go about doing macroeconomics the right way.
Book Synopsis Microeconomic Foundations I by : David M. Kreps
Download or read book Microeconomic Foundations I written by David M. Kreps and published by Princeton University Press. This book was released on 2013 with total page 583 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides a rigorous treatment of some of the basic tools of economic modeling and reasoning, along with an assessment of the strengths and weaknesses of these tools.
Book Synopsis Microeconomic Foundation/h by : Nic Harcourt
Download or read book Microeconomic Foundation/h written by Nic Harcourt and published by Routledge. This book was released on 2019-03-13 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: This discourse on the conference proceedings unveils Sir John Hicks's efforts to discuss capital/income family of concepts with their principal characteristics of inter-temporality. Papers on capital, profits, the concept of invariant capital stock and Kaleckian theory of investment are discussed.
Book Synopsis Advanced Macroeconomics by : Filipe R. Campante
Download or read book Advanced Macroeconomics written by Filipe R. Campante and published by LSE Press. This book was released on 2021-10-11 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: Macroeconomic policy is one of the most important policy domains, and the tools of macroeconomics are among the most valuable for policy makers. Yet there has been, up to now, a wide gulf between the level at which macroeconomics is taught at the undergraduate level and the level at which it is practiced. At the same time, doctoral-level textbooks are usually not targeted at a policy audience, making advanced macroeconomics less accessible to current and aspiring practitioners. This book, born out of the Masters course the authors taught for many years at the Harvard Kennedy School, fills this gap. It introduces the tools of dynamic optimization in the context of economic growth, and then applies them to a wide range of policy questions – ranging from pensions, consumption, investment and finance, to the most recent developments in fiscal and monetary policy. It does so with the requisite rigor, but also with a light touch, and an unyielding focus on their application to policy-making, as befits the authors’ own practical experience. Advanced Macroeconomics: An Easy Guide is bound to become a great resource for graduate and advanced undergraduate students, and practitioners alike.
Book Synopsis Methodology, Microeconomics and Keynes by : Philip Arestis
Download or read book Methodology, Microeconomics and Keynes written by Philip Arestis and published by . This book was released on 2014-04-09 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume, a companion to Money, Macroeconomics and Keynes, is published in honour of Victoria Chick, and represents both consolidation and the breaking of new ground in Keynesian Methodology and Microeconomics.
Book Synopsis Economic Analysis of Markets and Games by : Partha Dasgupta
Download or read book Economic Analysis of Markets and Games written by Partha Dasgupta and published by MIT Press. This book was released on 1992 with total page 666 pages. Available in PDF, EPUB and Kindle. Book excerpt: These original essays focus on a wide range of topics related to Frank Hahn'sdistinguished work in economics. Ranging from market analysis and game theory to the microeconomicfoundations of macroeconomics and from equilibrium and optimality with missing markets to economicsand society, they reflect the diversity of modem research in economic theory. What distinguishesHahn's work and many of the essays in this book is that the motivation often comes from practicalconcerns about unemployment, savings and investment, poverty, or the stability of markets.The essaysin Part I deal with the microeconomic foundations of macroeconomics - a field in which Hahn has madeimportant contributions, most notably in the theory of monetary economics. Topics include anevaluation of Hahn's contribution to the theory of distribution and such macroeconomic themes ascoordination failure, multiple equilibria, and strategic issues.Part II contains recentcontributions to game theory reflecting Hahn's interest in the question of what is rationalbehavior. The essays in Part III concentrate on general-equilibrium theory with missing markets, afield in which Hahn has made major advances. Although the essays address a different set of issues,they share with Hahn's works such themes as market failure, indeterminacy of equilibrium, and therole of money.Partha Dasgupta is Professor of Economics at Cambridge University. Douglas Gale isProfessor of Economics at Boston University. Oliver Hart is Professor of Economics at theMassachusetts Institute of Technology. Eric Maskin is Professor of Economics at HarvardUniversity.
Book Synopsis Essays in Economic Dynamics by : Akio Matsumoto
Download or read book Essays in Economic Dynamics written by Akio Matsumoto and published by Springer. This book was released on 2016-09-22 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book reflects the state of the art in nonlinear economic dynamics, providing a broad overview of dynamic economic models at different levels. The wide variety of approaches ranges from theoretical and simulation analysis to methodological study. In particular, it examines the local and global asymptotical behavior of both macro- and micro- level mathematical models, theoretically as well as using simulation. It also focuses on systems with one or more time delays for which new methodology has to be developed to investigate their asymptotic properties. The book offers a comprehensive summary of the existing methodology with extensions to the more complex model variants, since considerations on bounded rationality of complex economic behavior provide the foundation underlying choice-theoretic and policy-oriented studies of macro behavior, which impact the real macro economy. It includes 13 chapters addressing traditional models such as monopoly, duopoly and oligopoly in microeconomics and Keynesian, Goodwinian, and Kaldor–Kaleckian models in macroeconomics. Each chapter presents new aspects of these traditional models that have never been seen before. This work renews the past wisdom and reveals tomorrow's knowledge.
Book Synopsis Macroeconomic Foundations of Macroeconomics by : Alvaro Cencini
Download or read book Macroeconomic Foundations of Macroeconomics written by Alvaro Cencini and published by Routledge. This book was released on 2012-10-12 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contrary to common belief, macroeconomics is not merely a theory of aggregates, and cannot be constructed from individual behaviour. Both nationally and internationally, there are economic laws that are logically independent of economic agents’ behaviour. These are the macroeconomic foundations of macroeconomics. Presenting cutting-edge material, Alvaro Cencini explores these foundations, and shows that the introduction of money entails economics being interpreted conceptually not mathematically. His innovative book provides the elements for a new approach by applying the most recent results of monetary analysis to the study of national and international economics. It covers recent progress in monetary theory, provides the reader with a greater understanding of the subject, and will be essential reading for economic students as well as a valuable resource for economists.
Book Synopsis Macroeconomic Analysis by : Dirk Niepelt
Download or read book Macroeconomic Analysis written by Dirk Niepelt and published by MIT Press. This book was released on 2019-12-31 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: A concise but rigorous and thorough introduction to modern macroeconomic theory. This book offers an introduction to modern macroeconomic theory. It is concise but rigorous and broad, covering all major areas in mainstream macroeconomics today and showing how macroeconomic models build on and relate to each other. The self-contained text begins with models of individual decision makers, proceeds to models of general equilibrium without and with friction, and, finally, presents positive and normative theories of economic policy. After a review of the microeconomic foundations of macroeconomics, the book analyzes the household optimization problem, the representative household model, and the overlapping generations model. It examines risk and the implications for household choices and macroeconomic outcomes; equilibrium asset returns, prices, and bubbles; labor supply, growth, and business cycles; and open economy issues. It introduces frictions and analyzes their consequences in the labor market, financial markets, and for investment; studies money as a unit of account, store of value, and medium of exchange; and analyzes price setting in general equilibrium. Turning to government and economic policy, the book covers taxation, debt, social security, and monetary policy; optimal fiscal and monetary policies; and sequential policy choice, with applications in capital income taxation, sovereign debt and default, politically motivated redistribution, and monetary policy biases. Macroeconomic Analysis can be used by first-year graduate students in economics and students in master's programs, and as a supplemental text for advanced courses.
Book Synopsis Transforming Modern Macroeconomics by : Roger E. Backhouse
Download or read book Transforming Modern Macroeconomics written by Roger E. Backhouse and published by Cambridge University Press. This book was released on 2013 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the 1950s, macroeconomics has been transformed. This book is about one of the most important aspects of that transformation: the attempt, through the end of the twenty-first century and beyond, to construct macroeconomic models rigorously derived from models of individual firms and households.
Book Synopsis Prices and Quantities by : Arthur M. Okun
Download or read book Prices and Quantities written by Arthur M. Okun and published by Brookings Institution Press. This book was released on 1981-01 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the past decade Arthur M. Okun, like many economists, focused attention on finding ways to fight inflation without sacrificing goals of high employment and prosperity. In recent years the economy has been plagued by stagflation--the simultaneous persistence of high inflation and high unemployment. Traditional methods of aggregate demand management that have been reasonably successful in curing either one or the other of these problems have not been effective, and the nation has not been able to contain inflation even in periods of economic slack. It now seems clear that the economists’ traditional model that presumes short-run flexibility in wages and prices no longer holds for most of the industrial world, and hence the response of inflation to shifts in macroeconomic policy is weak. In this volume Okun seeks to explain that loss of responsiveness by analyzing how modern labor and product markets work and how they are structured. A central feature of Okun’s analysis is implicit contract theory, which recognizes that efficiency-maximizing decisions by business firms reflect long-term considerations as well as short-term changes in markets. His interpretation of microeconomic behavior and macroeconomic performance provides a basis for the design of policies to deal with stagflation.
Download or read book Macroeconomics written by Paul Krugman and published by Macmillan Higher Education. This book was released on 2015-04-07 with total page 690 pages. Available in PDF, EPUB and Kindle. Book excerpt: When it comes drawing on enduring economic principles to explain current economic realities, there is no one readers trust more than Paul Krugman. With his bestselling introductory textbook (now in a new edition) the Nobel laureate and New York Times columnist is proving to be equally effective in the classroom, with more and more instructors in all types of schools using Krugman’s signature storytelling style to help them introduce the fundamental principles of economics to all kinds of students.
Book Synopsis Post-Keynesian Essays from Down Under Volume I: Essays on Keynes, Harrod and Kalecki by : G. Harcourt
Download or read book Post-Keynesian Essays from Down Under Volume I: Essays on Keynes, Harrod and Kalecki written by G. Harcourt and published by Springer. This book was released on 2016-04-29 with total page 375 pages. Available in PDF, EPUB and Kindle. Book excerpt: Joseph Halevi, Geoff Harcourt, Peter Kriesler and J. W. Nevile bring together a collection of their most influential papers on post-Keynesian thought. Their work stresses the importance of the underlying institutional framework, of the economy as a historical process and, therefore, of path determinacy. In addition, their essays suggest the ultimate goal of economics is as a tool to inform policy and make the world a better place, with better being defined by an overriding concern with social justice. Volume I analyses the contributions of Keynes, Harrod and Kalecki.
Book Synopsis Techno-economic Paradigms by : Wolfgang J. M. Drechsler
Download or read book Techno-economic Paradigms written by Wolfgang J. M. Drechsler and published by Anthem Press. This book was released on 2009 with total page 443 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Techno-Economic Paradigms' presents a series of essays discussing one of the most interesting and talked-about socio-economic theories of our times: techno-economic paradigm shifts.
Book Synopsis The Theory of Money and Financial Institutions by : Martin Shubik
Download or read book The Theory of Money and Financial Institutions written by Martin Shubik and published by MIT Press. This book was released on 1999 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: This first volume in a three-volume exposition of Shubik's vision of "mathematical institutional economics" explores a one-period approach to economic exchange with money, debt, and bankruptcy. This is the first volume in a three-volume exposition of Martin Shubik's vision of "mathematical institutional economics"--a term he coined in 1959 to describe the theoretical underpinnings needed for the construction of an economic dynamics. The goal is to develop a process-oriented theory of money and financial institutions that reconciles micro- and macroeconomics, using as a prime tool the theory of games in strategic and extensive form. The approach involves a search for minimal financial institutions that appear as a logical, technological, and institutional necessity, as part of the "rules of the game." Money and financial institutions are assumed to be the basic elements of the network that transmits the sociopolitical imperatives to the economy. Volume 1 deals with a one-period approach to economic exchange with money, debt, and bankruptcy. Volume 2 explores the new economic features that arise when we consider multi-period finite and infinite horizon economies. Volume 3 will consider the specific role of financial institutions and government, and formulate the economic financial control problem linking micro- and macroeconomics.
Book Synopsis Advanced Modern Macroeconomics by : Max Gillman
Download or read book Advanced Modern Macroeconomics written by Max Gillman and published by Financial Times/Prentice Hall. This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern Macroeconomics, by Max Gillman, takes a new and modern approach to macroeconomic theory using microeconomic foundations. Building from the standard neo-classical models, Gillman has developed a new dynamic model which works to explain business cycles and unemployment, why you can have a banking lead recession as well as fiscal and monetary policy. Although strong in mathematical rigour all calculations in this text are fully derived and graphs provide a direct representation making it accessible. This text is suitable for undergraduate students studying Advanced Macroeconomics courses.
Download or read book WTF?! written by Peter T Leeson and published by Stanford University Press. This book was released on 2017-10-17 with total page 333 pages. Available in PDF, EPUB and Kindle. Book excerpt: “The most interesting book I have read in years. . . . WTF?! is like Freakonomics on steroids.” —Steven D. Levitt, New York Times–bestselling coauthor of Freakonomics Did you know that “pre-owned” wives were sold at auction in nineteenth-century England? That today, in Liberia, accused criminals sometimes drink poison to determine their fate? How about the fact that, for 250 years, Italy criminally prosecuted cockroaches and crickets? Do you wonder why? Then this book is for you! Introducing us to a cast of colorful characters, economist Peter T. Leeson explains how to use economic thinking to reveal the hidden sense behind seemingly senseless human behavior—including your own. Leeson shows that far from “irrational” or “accidents of history,” humanity’s most outlandish rituals are ingenious solutions to pressing problems—developed by clever people, driven by incentives, and tailor-made for their time and place. "A fascinating tour of some of the world’s strangest customs and behaviors, led by a brilliant, funny, and eccentric tour guide dedicated to the proposition that no matter how strange it looks, there’s always a reason for it—and a lesson to be learned by discovering that reason.” —Steven E. Landsburg, author of The Armchair Economist
