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Macroeconomic Analysis: An Intermediate Text

Second Edition

David Cobham

За особеностите на екземпляра
Macroeconomic Analysis: An Intermediate Text
Състояние:
Много добро
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Здраво книжно тяло, без забележки в текста.
Език:
Английски
Наличност:
1 бр.
За изданието
Издателство:
Pearson
Град на издаване:
London
Година:
1998 г.
Език:
Английски
Страници:
258
Корици:
Меки
Ширина (мм):
165
Височина (мм):
235
Preface to second edition In preparing this new edition I have tried to retain the strengths of the previous edition but at the same time to extend significantly the range of material covered. The thirteen chapters of the first edition have therefore become Part 1 of this, and six further chapters have been added in a new Part 2. The chapters of Part 1 have been revised to take account of new developments in macroeconomics since the mid-1980s and to remedy some previous omissions. In particular, the history of schools of thought given in Chapters 1 and 13 has been extended, and now includes the emergence of New Keynesian economics, the difficulties experienced by New Classical Macro, and the revival of what I have called Mainstream economics, an eclectic grouping that has absorbed ideas from both of the former schools within a framework which is identifiably descended from non-traditional Keynesians, non-New Classical monetarists and the Keynesian-monetarist convergence of which much was made in the first edition. At the same time relevant chapters now include more material on, among other things, rational expectations and consumption, Tobin’s q theory of investment, later Keynesian and buffer-stock theories of the demand for money, and the flow of funds derivation of the credit counterparts/money supply relationship. Part 2 covers more advanced material, at the level of macro systems rather than single sectors, ranging from the IS-LM with a government budget constraint through policy ineffectiveness, time inconsistency, and debt and deficits, to the overshooting exchange rate model, and concludes with a more detailed look at elements of New Keynesian and New Classical economics not covered elsewhere. It operates at a higher technical level, with more maths including some calculus (the only point at which calculus is used in Part 1 is for the Baumol-Tobin transactions demand in Chapter 5). However, the intuition underlying the various models is always elucidated, and mathematical derivations are carefully explained. Part 2, in particular, contains many more references and suggestions for further reading, while nearly every chapter now includes some exercises at the end. I am grateful to students at St Andrews who have heard some of the new material in lecture form, to my macroeconomics colleagues at St Andrews for discussion on various issues, and to Alexander Cobham for his comments and encouragement on some of the new chapters and for constructing the index.

Ключови думи: Macroeconomic Analysis, an Intermediate Text

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