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Author : Aldo Rustichini
Publisher :
ISBN 13 :
Total Pages : 754 pages
Book Rating : 4.:/5 (31 download)
Download or read book The Macroeconomics of the Price Mechanism written by Aldo Rustichini and published by . This book was released on 1991 with total page 754 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Hans Brems
Publisher :
ISBN 13 :
Total Pages : 105 pages
Book Rating : 4.:/5 (535 download)
Download or read book The Macroeconomics of the Price Mechanism written by Hans Brems and published by . This book was released on 1991 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Simon Commander
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4./5 ( download)
Download or read book The Macroeconomics of Price Reform in Socialist Countries written by Simon Commander and published by World Bank Publications. This book was released on 1990 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: The macroeconomic consequences of adopting different price rules for adjusting controlled prices in systems where controlled and market prices coexist and the implications of varying the proportions of controlled and market prices.
Author : Eizo Kawai
Publisher :
ISBN 13 :
Total Pages : 41 pages
Book Rating : 4.:/5 (13 download)
Download or read book Toward Rebuilding of Modern Macroeconomic Theory written by Eizo Kawai and published by . This book was released on 2019 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: The present study aims to perceive an unacceptable unreality of a macro price mechanism: that is, the unreality that under any severe recession, deterioration of deflation or a consistent decrease in the rate of inflation will lead an economy to full employment equilibrium. This unreality results from an arbitrary assumption that the micro price mechanism operates even in a macro economy. This study challenges the existing modern macroeconomics theories on price mechanism and unemployment based on the skepticism toward existing theories based on the observations of a real economy.The study reveals two main results. First, market failure in a macro economy, that is, the price mechanism is significantly incomplete and does not function, in particular, under deflation. This differs significantly from “the market failure due to the inflexibility of wages and prices, asymmetry of information, and so on,” as stated by new Keynesianism. The key reason for market failure in a short-run macro economy is the unavoidable spillover effects, or derived demand effects between goods and labor markets under disequilibrium due to inflexible wages and prices. Macro price mechanism completely overlooks these effects because of the arbitrary assumption, thus leading to the unrealistic price mechanism stated earlier. Considering the spillover effects, or derived demand effects under disequilibrium, the assumption of full employment equilibrium, along with the assumption of flexible wages and prices, does not hold. Although these effects are the results of the short-run analysis, there would be market failure in a macro economy even in the long run as an inevitable conjecture.To rebuild dynamic stochastic general equilibrium (DSGE) models, it is important to study the aforementioned fundamental and theoretical problem that macro price mechanism does not function. A static model is enough to explain the mechanism and dynamic models appear unnecessary and unfeasible.Second, Keynes's unemployment equilibrium is realized owing to market failure in a macro economy. Market failure in a macro economy shows that involuntary unemployment results from quantitative and not price aspects. In other words, involuntary unemployment is not a result of the rigidity of real wages but of a shortage in labor demand under rigid real wages. This is possible by reinterpreting the Shapiro-Stiglitz efficiency wage model. Finally, demand is a critical factor in both the short run and the long run.
Author : Domenico Delli Gatti
Publisher : Springer Science & Business Media
ISBN 13 : 8847019710
Total Pages : 130 pages
Book Rating : 4.8/5 (47 download)
Download or read book Macroeconomics from the Bottom-up written by Domenico Delli Gatti and published by Springer Science & Business Media. This book was released on 2011-04-18 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book arose from our conviction that the NNS-DSGE approach to the analysis of aggregate market outcomes is fundamentally flawed. The practice of overcoming the SMD result by recurring to a fictitious RA leads to insurmountable methodological problems and lies at the root of DSGE models’ failure to satisfactorily explain real world features, like exchange rate and banking crises, bubbles and herding in financial markets, swings in the sentiment of consumers and entrepreneurs, asymmetries and persistence in aggregate variables, and so on. At odds with this view, our critique rests on the premise that any modern macroeconomy should be modeled instead as a complex system of heterogeneous interacting individuals, acting adaptively and autonomously according to simple and empirically validated rules of thumb. We call our proposed approach Bottom-up Adaptive Macroeconomics (BAM). The reason why we claim that the contents of this book can be inscribed in the realm of macroeconomics is threefold: i) We are looking for a framework that helps us to think coherently about the interrelationships among two or more markets. In what follows, in particular, three markets will be considered: the markets for goods, labor and loanable funds. In this respect, real time matters: what happens in one market depends on what has happened, on what is happening, or on what will happen in other markets. This implies that intertemporal coordination issues cannot be ignored. ii) Eventually, it’s all about prices and quantities. However, we are mostly interested in aggregate prices and quantities, that is indexes built from the dispersed outcomes of the decentralized transactions of a large population of heterogeneous individuals. Each individual acts purposefully, but she knows anything about the levels of prices and quantities which clear markets in the aggregate. iii) In the hope of being allowed to purport scientific claims, BAM relies on the assumption that individual purposeful behaviours aggregates into regularities. Macro behaviour, however, can depart radically from what the individual units are trying to accomplish. It is in this sense that aggregate outcomes emerge from individual actions and interactions.
Author : Oliver E. Williamson
Publisher : Oxford University Press, USA
ISBN 13 : 9780195083569
Total Pages : 260 pages
Book Rating : 4.0/5 (835 download)
Download or read book The Nature of the Firm written by Oliver E. Williamson and published by Oxford University Press, USA. This book was released on 1993 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume features a series of essays which arose from a conference on economics, addressing the question: what is the nature of the firm in economic analysis? This paperback edition includes the Nobel Lecture of R.N. Case.
Author : Jordi Galí
Publisher : University of Chicago Press
ISBN 13 : 0226278875
Total Pages : 663 pages
Book Rating : 4.2/5 (262 download)
Download or read book International Dimensions of Monetary Policy written by Jordi Galí and published by University of Chicago Press. This book was released on 2010-03-15 with total page 663 pages. Available in PDF, EPUB and Kindle. Book excerpt: United States monetary policy has traditionally been modeled under the assumption that the domestic economy is immune to international factors and exogenous shocks. Such an assumption is increasingly unrealistic in the age of integrated capital markets, tightened links between national economies, and reduced trading costs. International Dimensions of Monetary Policy brings together fresh research to address the repercussions of the continuing evolution toward globalization for the conduct of monetary policy. In this comprehensive book, the authors examine the real and potential effects of increased openness and exposure to international economic dynamics from a variety of perspectives. Their findings reveal that central banks continue to influence decisively domestic economic outcomes—even inflation—suggesting that international factors may have a limited role in national performance. International Dimensions of Monetary Policy will lead the way in analyzing monetary policy measures in complex economies.
Author : Fouad Sabry
Publisher : One Billion Knowledgeable
ISBN 13 :
Total Pages : 252 pages
Book Rating : 4.:/5 (661 download)
Download or read book Market System written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-02-12 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Market System A market system is any systematic process enabling many market players to offer and demand: helping buyers and sellers interact and make deals. It is not just the price mechanism but the entire system of regulation, qualification, credentials, reputations and clearing that surrounds that mechanism and makes it operate in a social context. Some authors use the term "market system" to refer to specifically to the free market system. This article focuses on the more general sense of the term according to which there are a variety of different market systems. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Market system Chapter 2: Neoclassical economics Chapter 3: Means of production Chapter 4: Market economy Chapter 5: Transaction cost Chapter 6: Democratic capitalism Chapter 7: Eco-capitalism Chapter 8: Information economics Chapter 9: Commons-based peer production Chapter 10: Market (economics) Chapter 11: Fair trade debate Chapter 12: Macromarketing Chapter 13: Chrematistics Chapter 14: Collaborative consumption Chapter 15: Reverse auction Chapter 16: Economics of networks Chapter 17: Islamic marketing Chapter 18: Rainbow capitalism Chapter 19: Quadratic voting Chapter 20: Economic voting Chapter 21: Yeon-Koo Che (II) Answering the public top questions about market system. (III) Real world examples for the usage of market system in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Market System.
Author : Kent Matthews
Publisher : Palgrave
ISBN 13 :
Total Pages : 200 pages
Book Rating : 4.:/5 (321 download)
Download or read book Macroeconomics and the Market written by Kent Matthews and published by Palgrave. This book was released on 1994 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book reviews the development of macroeconomic policy in the context of the market system and evaluates its success or failure in its application to the UK. The author argues that there is no such thing as macroeconomics - that all economics is macroeconomics. The market system is a mode of organization by which the macroeconomics units such as households and firms interact to solve the economic problems of consumption, production and distribution. Macroeconomic policy design that fails to take into account the market system and the responses of microeconomic units will be doomed to failure.
Author : Saul Estrin
Publisher : Bloomsbury Publishing
ISBN 13 : 1349240028
Total Pages : 412 pages
Book Rating : 4.3/5 (492 download)
Download or read book Essential Readings in Economics written by Saul Estrin and published by Bloomsbury Publishing. This book was released on 1995-05-24 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: Intellectual advances in economics often come from debates that have been long forgotten but which offer context, depth and clarity to contemporary study. Essential Readings in Economics makes available in a single volume some of the seminal papers in the areas of microeconomics and macroeconomics for intermediate courses in economic principles. The readings are organised in two groups: Microeconomics and Macroeconomics. Part 1 looks at topics ranging from 'The Theory of Demand' and 'The Firm and Supply' to 'The Economics of Uncertainty and Information'. In Part 2 the wide ranging debates over the last 55 years are illustrated with contributions from Keynes, Friedman, Phillips and other leading Economists. This vigorous and accessible collection of readings is intended to supplement and extend the understanding students could obtain from conventional introductory textbooks.
Author : Olivier Blanchard
Publisher :
ISBN 13 : 9781292360911
Total Pages : 0 pages
Book Rating : 4.3/5 (69 download)
Download or read book Macroeconomics written by Olivier Blanchard and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This print textbook is available for students to rent for their classes. The Pearson print rental program provides students with affordable access to learning materials, so they come to class ready to succeed. For intermediate courses in economics. A unified view of the latest macroeconomic events In Macroeconomics, Blanchard presents an integrated, global view of macroeconomics, enabling students to see the connections between goods markets, financial markets, and labor markets worldwide. Organized into two parts, the text contains a core section that focuses on short-, medium-, and long-run markets and two major extensions that offer more in-depth coverage of the issues at hand. From the major economic crisis that engulfed the world in the late 2000s, to monetary policy in the US, to the problems of the Euro area, and growth in China, the text helps students make sense not only of current macroeconomic events but also of those that may unfold in the future. Integrated, detailed boxes in the 8th Edition have been updated to convey the life of macroeconomics today, reinforce lessons from the models, and help students employ and develop their analytical and evaluative skills. Also available with MyLab Economics By combining trusted author content with digital tools and a flexible platform, MyLab personalizes the learning experience and improves results for each student.
Author : Laurent Ferrara
Publisher : Springer
ISBN 13 : 3319790757
Total Pages : 300 pages
Book Rating : 4.3/5 (197 download)
Download or read book International Macroeconomics in the Wake of the Global Financial Crisis written by Laurent Ferrara and published by Springer. This book was released on 2018-06-13 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
Author : Amit Bhaduri
Publisher :
ISBN 13 :
Total Pages : 300 pages
Book Rating : 4.:/5 (41 download)
Download or read book Macroeconomics written by Amit Bhaduri and published by . This book was released on 1986 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Yair Listokin
Publisher : Harvard University Press
ISBN 13 : 0674976053
Total Pages : 281 pages
Book Rating : 4.6/5 (749 download)
Download or read book Law and Macroeconomics written by Yair Listokin and published by Harvard University Press. This book was released on 2019-03-11 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: After 2008, private-sector spending took a decade to recover. Yair Listokin thinks we can respond more quickly to the next meltdown by reviving and refashioning a policy approach, used in the New Deal, to harness law’s ability to function as a macroeconomic tool, stimulating or relieving demand as required under certain crisis conditions.
Author : Stanko Radmilovic
Publisher : GRIN Verlag
ISBN 13 : 3656592217
Total Pages : 14 pages
Book Rating : 4.6/5 (565 download)
Download or read book Emission mechanism as part of the monetary system, monetary and economic policy and of the different operations that may mean financial repression written by Stanko Radmilovic and published by GRIN Verlag. This book was released on 2014-02-11 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: Scientific Study from the year 2012 in the subject Economics - Macro-economics, general, University of Novi Sad, course: Economics, language: English, abstract: At the beginning of this article we have to say that the readers, in order to obtain more comprehensive information about what is actually happening in the World of money and finance, can expect not only broader, but also a more complex elaboration about its creation, the one that is presented in the article “The initial explanation of money creation - opens the door to uncovering its mystery and virtuality.” Generally it is not excluded that there will be those who will stand on the notion that it is inappropriate and that the emission of money is no longer a highly topical issue, pointing to the arguments that, in a sense, "are true, but not the whole truth ". For example, stating that the issue of money creation and the monetary system as a whole is not as current as it used to be, and according to many the same goes for monetary policy, the following theses and reasons are mentioned: (1) "The bogeyman" of (hyper)inflation has been globally overcome and the situation today is quite different from that in the larger part of the second half of the twentieth century. In other words, many will insist that, already at the end of the twentieth century, especially in the current period, financial instability (anyhow we define it) and the financial domain in general (that is, how the money is used), have become a more acute problem than the monetary, price instability, then inflation; (2) from this fact, can be drawn consequential thesis, which reduce actuality and importance of money emission; (3) or, in other words, a conclusion is drawn that the focus is not any more on the activities related to the existence, disruption of equilibrium and restoration of macro-monetary balance of supply of (Ms) and demand money (Md) - which means the mechanisms and policies of issuing money – but this place being taken over by finance, financial system, financial (in)stability. Or, to put it differently, or even more clearly: in the foreground, there is an outbreak of incredible expansion of modalities of use of money and a number of implications that arise from these modalities.
Author : Martin Binks
Publisher :
ISBN 13 :
Total Pages : 132 pages
Book Rating : 4.3/5 (9 download)
Download or read book Macroeconomics in Focus written by Martin Binks and published by . This book was released on 1986 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Dan Usher
Publisher : Clarendon Press
ISBN 13 :
Total Pages : 212 pages
Book Rating : 4.F/5 ( download)
Download or read book The Price Mechanism and the Meaning of National Income Statistics written by Dan Usher and published by Clarendon Press. This book was released on 1968 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt:
