Download or read book Elements of Pure Economics written by Léon Walras and published by Routledge. This book was released on 2013-10-16 with total page 630 pages. Available in PDF, EPUB and Kindle. Book excerpt: Elements of Pure Economics was one of the most influential works in the history of economics, and the single most important contribution to the marginal revolution. Walras' theory of general equilibrium remains one of the cornerstones of economic theory more than 100 years after it was first published.
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.
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: A distinguished Yale economist and legal scholar’s argument that law, of all things, has the potential to rescue us from the next economic crisis. After the economic crisis of 2008, private-sector spending took nearly a decade to recover. Yair Listokin thinks we can respond more quickly to the next meltdown by reviving and refashioning a policy approach whose proven success is too rarely acknowledged. Harking back to New Deal regulatory agencies, Listokin proposes that we take seriously law’s ability to function as a macroeconomic tool, capable of stimulating demand when needed and relieving demand when it threatens to overheat economies. Listokin makes his case by looking at both positive and cautionary examples, going back to the New Deal and including the Keystone Pipeline, the constitutionally fraught bond-buying program unveiled by the European Central Bank at the nadir of the Eurozone crisis, the ongoing Greek crisis, and the experience of U.S. price controls in the 1970s. History has taught us that law is an unwieldy instrument of macroeconomic policy, but Listokin argues that under certain conditions it offers a vital alternative to the monetary and fiscal policy tools that stretch the legitimacy of technocratic central banks near their breaking point while leaving the rest of us waiting and wallowing.
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.
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.
Download or read book Monetary Economics written by Jagdish Handa and published by Routledge. This book was released on 2008-09-18 with total page 1199 pages. Available in PDF, EPUB and Kindle. Book excerpt: This successful text, now in its second edition, offers the most comprehensive overview of monetary economics and monetary policy currently available. It covers the microeconomic, macroeconomic and monetary policy components of the field. Major features of the new edition include:Stylised facts on money demand and supply, and the relationships betw
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.
Download or read book Keynes s General Theory After Seventy Years written by R. Dimand and published by Springer. This book was released on 2010-02-03 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive overview of Keynes' contributions to macroeconomics and offers an in-depth analysis of the contested legacy of The General Theory, a book that marked the emergence of modern macroeconomics from the earlier heritage of monetary theory and business cycle and analysis.
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
Download or read book Keynesian Macroeconomics Beyond the IS LM Model written by Chandana Ghosh and published by Springer. This book was released on 2019-05-22 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book makes an original and significant contribution to Keynesian macroeconomics. The IS-LM model is a basic workhorse of Keynesian macroeconomics. However, its financial aspects are extremely rudimentary and the link between the real and the financial sector is extremely tenuous. Hence, neither the IS-LM model nor IS-LM-based models can be applied to the major economic issues facing today’s world. This book develops alternative models in the Keynesian tradition that incorporate financial institutions and make explicit the intimate link between the processes of generation of income, saving, credit and expenditure. It subsequently uses these models to address the major current macroeconomic issues that India and the rest of the world are confronted with. In the Indian context, it focuses on the issues of unemployment, growth, recession, bank performance, banking sector reforms and corruption. It also seeks to identify the causes of economic crises in Greece and the US. The analysis reveals a common trend in the economies considered here: the policy framework within which they function is recessionary, exploitative and fosters unemployment, inequality and poverty. Further, this framework is leading these economies farther away from the goal that every civilized society should strive to achieve, namely, providing all citizens with suitably gainful jobs and adequate access to quality food, clothing, shelter, education and health care. The book seeks to identify the cause of this malady, and puts forward policies to remedy it. It thus contains takeaways for academia, think tanks as well as policy makers.
Download or read book Post Walrasian Macroeconomics written by David Colander and published by Cambridge University Press. This book was released on 2006-07-17 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Macroeconomics is evolving in an almost dialectic fashion. The latest evolution is the development of a new synthesis that combines insights of new classical, new Keynesian and real business cycle traditions into a dynamic, stochastic general equilibrium (DSGE) model that serves as a foundation for thinking about macro policy. That new synthesis has opened up the door to a new antithesis, which is being driven by advances in computing power and analytic techniques. This new synthesis is coalescing around developments in complexity theory, automated general to specific econometric modeling, agent-based models, and non-linear and statistical dynamical models. This book thus provides the reader with an introduction to what might be called a Post Walrasian research program that is developing as the antithesis of the Walrasian DSGE synthesis.
Download or read book Debunking Economics Digital Edition Revised Expanded and Integrated written by Professor Steve Keen and published by Zed Books Ltd.. This book was released on 2011-09-22 with total page 589 pages. Available in PDF, EPUB and Kindle. Book excerpt: Debunking Economics exposes what many non-economists may have suspected and a minority of economists have long known: that economic theory is not only unpalatable, but also plain wrong. When the original Debunking was published back in 2001, the market economy seemed invincible, and conventional 'neoclassical' economic theory basked in the limelight. Steve Keen argued that economists deserved none of the credit for the economy's performance, and that 'the false confidence it has engendered in the stability of the market economy has encouraged policy-makers to dismantle some of the institutions which initially evolved to try to keep its instability within limits'. That instability exploded with the devastating financial crisis of 2007, and now haunts the global economy with the prospect of another Depression. In this radically updated and greatly expanded new edition - this version of which includes fully integrated graphs and diagrams - Keen builds on his scathing critique of conventional economic theory whilst explaining what mainstream economists cannot: why the crisis occurred, why it is proving to be intractable, and what needs to be done to end it. Essential for anyone who has ever doubted the advice or reasoning of economists, Debunking Economics provides a signpost to a better future.
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 420 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.
Download or read book Monetary Equilibrium written by Gunnar Myrdal and published by . This book was released on 1962 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Macroeconomics written by Errol D'Souza and published by Pearson Education India. This book was released on 2009-05 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt: Errol D'Souza's Macroeconomics helps students realize the connections between theoretical frameworks and the actual behaviour of the economy; enables instructors to teach macroeconomics concepts within the context of both the Indian and global economy; and provides policymakers with material from current research in macroeconomics. The focus of the book rests on the analysis of macroeconomic thought in terms of the intuition and underlying logic that forms its basis. This book has been designed to help readers think independently about real-world situations, by helping them master the basic technical tools that enable them to do this. At a conceptual level, the book focuses on the most current and relevant issues, while also understanding the fluidity of the subject.
Download or read book An Evolutionary Theory of Economic Change written by Richard R. Nelson and published by Harvard University Press. This book was released on 1985-10-15 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.
Download or read book Debunking Economics written by Professor Steve Keen and published by Zed Books Ltd.. This book was released on 2011-09-22 with total page 543 pages. Available in PDF, EPUB and Kindle. Book excerpt: Debunking Economics exposes what many non-economists may have suspected and a minority of economists have long known: that economic theory is not only unpalatable, but also plain wrong. When the original Debunking was published back in 2001, the market economy seemed invincible, and conventional 'neoclassical' economic theory basked in the limelight. Steve Keen argued that economists deserved none of the credit for the economy's performance, and that 'the false confidence it has engendered in the stability of the market economy has encouraged policy-makers to dismantle some of the institutions which initially evolved to try to keep its instability within limits'. That instability exploded with the devastating financial crisis of 2007, and now haunts the global economy with the prospect of another Depression. In this radically updated and greatly expanded new edition, Keen builds on his scathing critique of conventional economic theory whilst explaining what mainstream economists cannot: why the crisis occurred, why it is proving to be intractable, and what needs to be done to end it. Essential for anyone who has ever doubted the advice or reasoning of economists, Debunking Economics provides a signpost to a better future.
