Wendy Carlin, David Soskice Macroeconomics: Imperfections, Institutions and Policies

Macroeconomics: Imperfections, Institutions and Policies

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The distinctive feature of this book is that it provides a unified framework for the analysis of short- and medium-run macroeconomics. This gives students a model that they can use themselves to understand a wide range of real-world macroeconomic behavio and policy issues. The authors
introduce a new graphical model (IS/PC/MR) based on the 3-equation New Keynesian model used in modern macroeconomics. The three equations are the IS curve, the Phillips curve, and an interest rate-based monetary policy rle. The use of a common framework throughout for closed and open economies
helps students develop the economic intuition with which to address a diversity of macroeconomic problems.
Applied chapters show how models can be used to analyze perfomance in OECD economies over the past 25 years. The chapters on growth present in-depth coverage of the Solow-Swan, endogenous, and Schumpeterian models that allow students to understand how these approaches can be used to anser the
big questions of grwth: why some countries are rich and other are poor; why some catch up and others do not. Because the book is based on the mainstream 3-equation model used at the research frontier, the book gives students the economics background necessary for accessing dvanced macroeconomics.
It is also designed to appeal to graduate students, non-specialists in maacroeconomics, professional economists, and those from related disciplines who want a guide to the complexities of modern macroecnomics and to understand cntemporary policy debates.
Online Resource Center: The companion website will provide exercises and checklist questions for students as well as password-protected solutions and diagrams from the text for instructors.

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