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Macroeconomic Theory
Jean-Pascal Benassy
416 pages
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80 line drawings
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234x156mm
978-0-19-538771-1
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Hardback
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12 May 2011
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- This graduate textbook is a "primer" in macroeconomics
- Develops in a simple and rigorous manner the central topics of modern macroeconomic theory including rational expectations, growth, business cycles, money, unemployment, government policy, and the macroeconomics of nonclearing markets
This graduate textbook is a "primer" in macroeconomics. It starts with essential undergraduate macroeconomics and develops in a simple and rigorous manner the central topics of modern macroeconomic theory including rational expectations, growth, business cycles, money, unemployment, government policy, and the macroeconomics of nonclearing markets. The emphasis throughout the book is on both foundations and presenting the simplest model for each topic that will deliver the relevant
answers.
The first two chapters recall the main workhorses of undergraduate macroeconomics: the Solow-Swan growth model, the Keynesian IS-LM model, and the Phillips curve. The next chapters present four fundamental "building blocks" of modern macroeconomics: rational expectations, intertemporal dynamic models, nonclearing markets and imperfect competition, and uncertainty. Later the book deals with growth, notably the Ramsey model, overlapping generations, and endogenous growth. Chapter 10 moves to the famous "real business cycles" (RBC), which integrate in a unified framework growth and fluctuations. The final chapters look at the issue of stabilization, how best to guard the economy from shocks, and the connections between politics and the macroeconomy. To make
the book self contained, a mathematical appendix gives a number of simple technical results that are sufficient to follow the formal developments of the book.Readership: First year Ph.D. students in economics taking their first macroeconomics course.
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Jean-Pascal Benassy, Director of Research, National Center for Scientific Research (CNRS) Jean-Pascal Bénassy graduated from Ecole Normale Supérieure in Paris and has a Ph.D. in economics from the University of California at Berkeley. He is currently Director of Research at National Center for Scientific Research (CNRS) and a Research Fellow at Center for Economic Research and its Applications (CEPREMAP).
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1.: Growth
2.: Output, Inflation and Stabilization
3.: Rational Expectations
4.: Intertemporal Equilibria with Optimizing Agents
5.: Nonclearing Markets and Imperfect Competition
6.: Uncertainty and Financial Assets
7.: The Ramsey Model
8.: Overlapping Generations
9.: Endogenous Growth
10.: Competitive Business Cycles
11.: Money
12.: Money and Cycles
13.: Nominal Rigidities and Fluctuations
14.: Consumption, Investment, Inventories and Credit
15.: Unemployment: Basic Models
16.: A Dynamic View of Unemployment
17.: Policy: The Public Finance Approach
18.: Stabilization policies
19.: Dynamic Consistency and Credibility
20.: Political Economy
A Mathematical Appendix
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The specification in this catalogue, including without limitation price, format, extent, number of illustrations, and month of publication, was as accurate as possible at the time the catalogue was compiled. Occasionally, due to the nature of some contractual restrictions, we are unable to ship a specific product to a particular territory. Jacket images are provisional and liable to change before publication.
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