The Friedman Lucas Transition in Macroeconomics

The Friedman Lucas Transition in Macroeconomics
Author: Peter Galbács
Publsiher: Academic Press
Total Pages: 396
Release: 2020-02-20
ISBN 10: 0128165537
ISBN 13: 9780128165539
Language: EN, FR, DE, ES & NL

The Friedman Lucas Transition in Macroeconomics Book Review:

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 Offers a wide selection of Robert Lucas’s unpublished works Discusses the history of business-cycle theories in the context of methodological advancements Suggests effective arguments for emphasizing the key role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

Milton Friedman

Milton Friedman
Author: James Forder
Publsiher: Springer
Total Pages: 495
Release: 2019-07-05
ISBN 10: 113738784X
ISBN 13: 9781137387844
Language: EN, FR, DE, ES & NL

Milton Friedman Book Review:

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.

A History of Macroeconomics from Keynes to Lucas and Beyond

A History of Macroeconomics from Keynes to Lucas and Beyond
Author: Michel De Vroey
Publsiher: Cambridge University Press
Total Pages: 448
Release: 2016-01-08
ISBN 10: 0521898439
ISBN 13: 9780521898430
Language: EN, FR, DE, ES & NL

A History of Macroeconomics from Keynes to Lucas and Beyond Book Review:

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.

The Theory of New Classical Macroeconomics

The Theory of New Classical Macroeconomics
Author: Peter Galbács
Publsiher: Springer
Total Pages: 368
Release: 2015-04-23
ISBN 10: 3319175785
ISBN 13: 9783319175782
Language: EN, FR, DE, ES & NL

The Theory of New Classical Macroeconomics Book Review:

This book examines new classical macroeconomics from a comparative and critical point of view that confronts the original texts and later comments as a first dimension of comparison. The second dimension appears in a historical context, since none of the new classical doctrines can be analyzed ignoring the parallelism and discrepancies with the theory of Keynes, Friedman or Phelps. Radicalism of new classical macroeconomics has brought fundamental changes in economic thought, but the doctrines got vulgarized and distorted thanks to the mass of followers. Nowadays, economic theory and policy, trying to find their ways, have a less clear relationship than ever. Therefore, this volume is aimed at mapping and reconsidering the policy instruments and transmission mechanisms offered by the new classicals. Its central question points to the real nature of new classical macroeconomics: what consequences are grounded by the assumptions new classicals used. Moreover, issues raised by automatic fiscal stabilizers and fiscal reforms are analyzed as well, even if they were out of the range of classical texts. The book draws a picture of new classical macroeconomics stressing the analogies with Keynesian countercyclical policies, instead of the discrepancies commonly held.

Crisis in Economics

Crisis in Economics
Author: László Csaba
Publsiher: Unknown
Total Pages: 223
Release: 2009
ISBN 10:
ISBN 13: STANFORD:36105131263233
Language: EN, FR, DE, ES & NL

Crisis in Economics Book Review:

Macroeconomics

Macroeconomics
Author: Stephen D. Williamson
Publsiher: Addison-Wesley
Total Pages: 692
Release: 2007
ISBN 10:
ISBN 13: UOM:39015070709772
Language: EN, FR, DE, ES & NL

Macroeconomics Book Review:

Williamson's Macroeconomicsuses a thoroughly modern approach that is consistent with the way that macroeconomic research is conducted today. Introduction and Measurement Issues:Introduction; Measurement: National Income Accounting, Prices, Saving, and Labor Markets; Business Cycle Measurement. A One-Period Model of the Macroeconomy:Consumer and Firm Behavior: The Work-Leisure Decision and Profit Maximization; A Closed-Economy One-Period Macroeconomic Model. Economic Growth:Economic Growth: Malthus and Solow; Income Disparity Among Countries and Endogenous Growth. Savings, Investment, and Government Deficits:A Two-Period Model: The Consumption Savings Decision and Credit Markets; A Real Intemporal Model with Investment. Money and Business Cycles:A Monetary Intertemporal Model: Money, Prices, and Monetary Policy; Market-Clearing Models of the Business Cyc≤ Keynesian Business Cycle Theory: Sticky Wages and Prices. International Macroeconomics:International Trade in Goods and Assets; Money in the Open Economy. Topics in Macroeconomics:Money, Inflation, and Banking; Unemployment: Search and Efficiency Wages; Inflation, the Phillips Curve, and Central Bank Commitment. Mathematical Appendix. For all readers interested in macroeconomics.

Macroeconomics and the Phillips Curve Myth

Macroeconomics and the Phillips Curve Myth
Author: James Forder
Publsiher: OUP Oxford
Total Pages: 320
Release: 2014-10-09
ISBN 10: 0191506567
ISBN 13: 9780191506567
Language: EN, FR, DE, ES & NL

Macroeconomics and the Phillips Curve Myth Book Review:

This book reconsiders the role of the Phillips curve in macroeconomic analysis in the first twenty years following the famous work by A. W. H. Phillips, after whom it is named. It argues that the story conventionally told is entirely misleading. In that story, Phillips made a great breakthrough but his work led to a view that inflationary policy could be used systematically to maintain low unemployment, and that it was only after the work of Milton Friedman and Edmund Phelps about a decade after Phillips' that this view was rejected. On the contrary, a detailed analysis of the literature of the times shows that the idea of a negative relation between wage change and unemployment - supposedly Phillips' discovery - was commonplace in the 1950s, as were the arguments attributed to Friedman and Phelps by the conventional story. And, perhaps most importantly, there is scarcely any sign of the idea of the inflation-unemployment tradeoff promoting inflationary policy, either in the theoretical literature or in actual policymaking. The book demonstrates and identifies a number of main strands of the actual thinking of the 1950s, 1960s, and 1970s on the question of the determination of inflation and its relation to other variables. The result is not only a rejection of the Phillips curve story as it has been told, and a reassessment of the understanding of the economists of those years of macroeconomics, but also the construction of an alternative, and historically more authentic account, of the economic theory of those times. A notable outcome is that the economic theory of the time was not nearly so naïve as it has been portrayed.

Economic Complexity and Equilibrium Illusion

Economic Complexity and Equilibrium Illusion
Author: Ping Chen
Publsiher: Routledge
Total Pages: 272
Release: 2010-04-05
ISBN 10: 1136994874
ISBN 13: 9781136994876
Language: EN, FR, DE, ES & NL

Economic Complexity and Equilibrium Illusion Book Review:

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.

The General Theory of Employment Interest and Money

The General Theory of Employment  Interest  and Money
Author: John Maynard Keynes,General Press
Publsiher: GENERAL PRESS
Total Pages: 380
Release: 2019-10-05
ISBN 10: 9389440629
ISBN 13: 9789389440621
Language: EN, FR, DE, ES & NL

The General Theory of Employment Interest and Money Book Review:

The General Theory of Employment, Interest, and Money, written by legendary author John Maynard Keynes is widely considered to be one of the top 100 greatest books of all time. This masterpiece was published right after the Great Depression. It sought to bring about a revolution, commonly referred to as the ‘Keynesian Revolution’, in the way economists thought—especially challenging the proposition that a market economy tends naturally to restore itself to full employment on its own. Regarded widely as the cornerstone of Keynesian thought, this book challenged the established classical economics and introduced new concepts. ‘The General Theory of Employment, Interest, and Money’ transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned.

A History of Macroeconomics from Keynes to Lucas and Beyond

A History of Macroeconomics from Keynes to Lucas and Beyond
Author: Michel De Vroey
Publsiher: Cambridge University Press
Total Pages: 448
Release: 2016-01-08
ISBN 10: 0521898439
ISBN 13: 9780521898430
Language: EN, FR, DE, ES & NL

A History of Macroeconomics from Keynes to Lucas and Beyond Book Review:

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.

L on Walras Elements of Theoretical Economics

L  on Walras  Elements of Theoretical Economics
Author: Léon Walras
Publsiher: Cambridge University Press
Total Pages: 329
Release: 2014-10-23
ISBN 10: 1316061728
ISBN 13: 9781316061725
Language: EN, FR, DE, ES & NL

L on Walras Elements of Theoretical Economics Book Review:

In his fourth edition of Éléménts d'économie politique pure (1900), León Walras introduced the device of written pledges to eliminate path dependency: sellers of products and services write out commitments to supply certain quantities at suggested prices with no commodities actually produced and supplied until a set of prices is found at which supply and demand are equal simultaneously in every market. This brought about very serious alterations to the character of the book. Unfortunately, these changes resulted in an incomplete, internally contradictory, and occasionally incoherent text. This translation, therefore, by two leading scholars of León Walras' work, Donald Walker and Jan van Daal, revisits the third edition of this seminal work, including Walras' brilliant explanation of his comprehensive model, with all its richness derived from reality. Growing research into Walras' work indicates that it was this third edition that contained his best theoretical research and a translation of this edition of the book is now a necessity.

Milton Friedman Robert E Lucas Jr and Edmund S Phelps

Milton Friedman  Robert E  Lucas  Jr  and Edmund S  Phelps
Author: Howard R. Vane,Chris Mulhearn
Publsiher: Edward Elgar Pub
Total Pages: 477
Release: 2009
ISBN 10:
ISBN 13: IND:30000126260631
Language: EN, FR, DE, ES & NL

Milton Friedman Robert E Lucas Jr and Edmund S Phelps Book Review:

This groundbreaking series brings together a critical selection of key papers by the Nobel Memorial Laureates in Economics that have helped shape the development and present state of economics. The editors have organised this comprehensive series by theme and each volume focuses on those Laureates working in the same broad area of study. The careful selection of papers within each volume is set in context by an insightful introduction to the Laureates' careers and main published works. This landmark series will be an essential reference for scholars throughout the world.

Index of Economic Articles in Journals and Collective Volumes 1996

Index of Economic Articles in Journals and Collective Volumes 1996
Author: Anonim
Publsiher: Unknown
Total Pages: 329
Release: 2003
ISBN 10:
ISBN 13: PSU:000049736649
Language: EN, FR, DE, ES & NL

Index of Economic Articles in Journals and Collective Volumes 1996 Book Review:

Economics

Economics
Author: Daron Acemoglu,David I. Laibson,John A. List
Publsiher: Unknown
Total Pages: 750
Release: 2014
ISBN 10: 9780321383952
ISBN 13: 0321383958
Language: EN, FR, DE, ES & NL

Economics Book Review:

The Age of Fragmentation

The Age of Fragmentation
Author: Alessandro Roncaglia
Publsiher: Cambridge University Press
Total Pages: 228
Release: 2019-12-05
ISBN 10: 1108478441
ISBN 13: 9781108478441
Language: EN, FR, DE, ES & NL

The Age of Fragmentation Book Review:

A wide-ranging historical account and critical analysis of the global development of economics from 1940 to the present day.

Property Institutions and Social Stratification in Africa

Property  Institutions  and Social Stratification in Africa
Author: Franklin Obeng-Odoom
Publsiher: Cambridge University Press
Total Pages: 288
Release: 2020-03-31
ISBN 10: 1108491995
ISBN 13: 9781108491990
Language: EN, FR, DE, ES & NL

Property Institutions and Social Stratification in Africa Book Review:

In this book, Franklin Obeng-Odoom seeks to debunk the existing explanations of inequalities within Africa and between Africa and the rest of the world using insights from the emerging field of stratification economics. Using multiple sources - including archival and historical material and a wide range of survey data - he develops a distinctive approach that combines traditional institutional economics, such as social protection and reasonable value, property and the distribution of wealth with other insights into Africa's development. While looking at the Africa-wide situation, Obeng-Odoom also analyses the experiences of inequalities within specific countries; he primarily focuses on Ghana while also drawing on experiences in Botswana and Mauritius. Comprehensive and engaging, Property, Institutions, and Social Stratification in Africa is a useful resource for teaching and research on Africa and the Global South.

Income Distribution in Macroeconomic Models

Income Distribution in Macroeconomic Models
Author: Giuseppe Bertola,Reto Foellmi,Josef Zweimüller
Publsiher: Princeton University Press
Total Pages: 456
Release: 2014-09-28
ISBN 10: 1400865093
ISBN 13: 9781400865093
Language: EN, FR, DE, ES & NL

Income Distribution in Macroeconomic Models Book Review:

This book looks at the distribution of income and wealth and the effects that this has on the macroeconomy, and vice versa. Is a more equal distribution of income beneficial or harmful for macroeconomic growth, and how does the distribution of wealth evolve in a market economy? Taking stock of results and methods developed in the context of the 1990s revival of growth theory, the authors focus on capital accumulation and long-run growth. They show how rigorous, optimization-based technical tools can be applied, beyond the representative-agent framework of analysis, to account for realistic market imperfections and for political-economic interactions. The treatment is thorough, yet accessible to students and nonspecialist economists, and it offers specialist readers a wide-ranging and innovative treatment of an increasingly important research field. The book follows a single analytical thread through a series of different growth models, allowing readers to appreciate their structure and crucial assumptions. This is particularly useful at a time when the literature on income distribution and growth has developed quickly and in several different directions, becoming difficult to overview.

Handbook of Cliometrics

Handbook of Cliometrics
Author: Claude Diebolt,Michael Haupert
Publsiher: Springer
Total Pages: 1768
Release: 2019-09-30
ISBN 10: 9783030001803
ISBN 13: 3030001806
Language: EN, FR, DE, ES & NL

Handbook of Cliometrics Book Review:

The Handbook of Cliometrics is a milestone in the field of historical economics and econometric history through its emphasis on the concrete contribution of cliometrics to our knowledge in economics and history. The articles in the handbook authored by the leading scholars in the fields, stress the usefulness of cliometrics for economists, historians and social scientists in general. The Handbook offers a comprehensive coverage of topics with each article providing an overview of the contributions of cliometrics to a particular topic. The Handbook has set a new standard of quality in the field by offering a world-wide forum of discussion in cliometrics. The second edition of the Handbook offers a substantially enlarged collection of articles and thus stresses its unique position as authoritative reference work in this field.

World Social Report 2020

World Social Report 2020
Author: Department of Economic and Social Affairs
Publsiher: United Nations
Total Pages: 216
Release: 2020-02-14
ISBN 10: 9210043677
ISBN 13: 9789210043670
Language: EN, FR, DE, ES & NL

World Social Report 2020 Book Review:

This report examines the links between inequality and other major global trends (or megatrends), with a focus on technological change, climate change, urbanization and international migration. The analysis pays particular attention to poverty and labour market trends, as they mediate the distributional impacts of the major trends selected. It also provides policy recommendations to manage these megatrends in an equitable manner and considers the policy implications, so as to reduce inequalities and support their implementation.

The Friedman System

The Friedman System
Author: William Johnson Frazer
Publsiher: Unknown
Total Pages: 263
Release: 1997
ISBN 10:
ISBN 13: STANFORD:36105019292577
Language: EN, FR, DE, ES & NL

The Friedman System Book Review: