The Friedman Lucas Transition in Macroeconomics Book

The Friedman Lucas Transition in Macroeconomics


  • Author : Peter Galbács
  • Publisher : Academic Press
  • Release Date : 2020-03-04
  • Genre: Business & Economics
  • Pages : 400
  • ISBN 10 : 9780128165652
  • Total Read : 92
  • File Size : 5,7 Mb

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The Friedman Lucas Transition in Macroeconomics Summary:

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 Offers a wide selection of Robert Lucas's unpublished works Discusses the history of business-cycle theories in the context of methodological advancements Suggests effective arguments for emphasizing the key role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

The Friedman Lucas Transition in Macroeconomics Book

The Friedman Lucas Transition in Macroeconomics


  • Author : Peter Galbács
  • Publisher : Academic Press
  • Release Date : 2020-02-20
  • Genre: Business & Economics
  • Pages : 396
  • ISBN 10 : 9780128165539
  • Total Read : 62
  • File Size : 13,6 Mb

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The Friedman Lucas Transition in Macroeconomics Summary:

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 Offers a wide selection of Robert Lucas’s unpublished works Discusses the history of business-cycle theories in the context of methodological advancements Suggests effective arguments for emphasizing the key role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

A History of Macroeconomics from Keynes to Lucas and Beyond Book

A History of Macroeconomics from Keynes to Lucas and Beyond


  • Author : Michel De Vroey
  • Publisher : Cambridge University Press
  • Release Date : 2016-01-08
  • Genre: Business & Economics
  • Pages : 451
  • ISBN 10 : 9780521898430
  • Total Read : 76
  • File Size : 13,5 Mb

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A History of Macroeconomics from Keynes to Lucas and Beyond Summary:

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.

Milton Friedman Book

Milton Friedman


  • Author : James Forder
  • Publisher : Springer
  • Release Date : 2019-07-05
  • Genre: Business & Economics
  • Pages : 489
  • ISBN 10 : 9781137387844
  • Total Read : 66
  • File Size : 19,8 Mb

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Milton Friedman Summary:

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.

Equilibrium Models in Economics Book

Equilibrium Models in Economics


  • Author : Lawrence A. Boland
  • Publisher : Oxford University Press
  • Release Date : 2017-04-21
  • Genre: Business & Economics
  • Pages : 200
  • ISBN 10 : 9780190274351
  • Total Read : 86
  • File Size : 12,7 Mb

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Equilibrium Models in Economics Summary:

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.

Banks and Finance in Modern Macroeconomics Book

Banks and Finance in Modern Macroeconomics


  • Author : Bruna Ingrao
  • Publisher : Edward Elgar Publishing
  • Release Date : 2019
  • Genre: Banks and banking
  • Pages : 296
  • ISBN 10 : 9781786431530
  • Total Read : 70
  • File Size : 13,5 Mb

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Banks and Finance in Modern Macroeconomics Summary:

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.

Advanced Macroeconomics Book

Advanced Macroeconomics


  • Author : Filipe R. Campante
  • Publisher : LSE Press
  • Release Date : 2021-10-11
  • Genre: Business & Economics
  • Pages : 418
  • ISBN 10 : 9781909890701
  • Total Read : 76
  • File Size : 14,9 Mb

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Advanced Macroeconomics Summary:

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.

Recursive Macroeconomic Theory  fourth edition Book

Recursive Macroeconomic Theory fourth edition


  • Author : Lars Ljungqvist
  • Publisher : MIT Press
  • Release Date : 2018-09-11
  • Genre: Business & Economics
  • Pages : 1477
  • ISBN 10 : 9780262038669
  • Total Read : 72
  • File Size : 10,9 Mb

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Recursive Macroeconomic Theory fourth edition Summary:

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.