The Macroeconomics Of Self Fulfilling Prophecies PDF Download
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Author | : Roger E. A. Farmer |
Publisher | : MIT Press |
Total Pages | : 330 |
Release | : 1999 |
Genre | : Business & Economics |
ISBN | : 9780262062039 |
Download The Macroeconomics of Self-fulfilling Prophecies Book in PDF, ePub and Kindle
Farmer argues for the future of macroeconomics as a branch ofapplied general equilibrium theory. His main theme is thatmacroeconomics is best viewed as the study of equilibrium environmentsin which the welfare theorems break down.
Author | : Kenneth J. Matheny |
Publisher | : |
Total Pages | : 28 |
Release | : 1995 |
Genre | : Equilibrium (Economics) |
ISBN | : |
Download The Macroeconomics of Self-fulfilling Prophecies Book in PDF, ePub and Kindle
Author | : Kenneth James Matheny |
Publisher | : |
Total Pages | : 34 |
Release | : 1995 |
Genre | : |
ISBN | : |
Download The Macroeconomics of Self-fulfilling Prophecies [by Roger E.A. Farmer] : a Review Article Book in PDF, ePub and Kindle
Author | : Roger E. A. Farmer |
Publisher | : Oxford University Press |
Total Pages | : 209 |
Release | : 2010-04-08 |
Genre | : Business & Economics |
ISBN | : 0199756376 |
Download How the Economy Works Book in PDF, ePub and Kindle
"Of all the economic bubbles that have been pricked," the editors of The Economist recently observed, "few have burst more spectacularly than the reputation of economics itself." Indeed, the financial crisis that crested in 2008 destroyed the credibility of the economic thinking that had guided policymakers for a generation. But what will take its place? In How the Economy Works, one of our leading economists provides a jargon-free exploration of the current crisis, offering a powerful argument for how economics must change to get us out of it. Roger E. A. Farmer traces the swings between classical and Keynesian economics since the early twentieth century, gracefully explaining the elements of both theories. During the Great Depression, Keynes challenged the longstanding idea that an economy was a self-correcting mechanism; but his school gave way to a resurgence of classical economics in the 1970s-a rise that ended with the current crisis. Rather than simply allowing the pendulum to swing back, Farmer writes, we must synthesize the two. From classical economics, he takes the idea that a sound theory must explain how individuals behave-how our collective choices shape the economy. From Keynesian economics, he adopts the principle that markets do not always work well, that capitalism needs some guidance. The goal, he writes, is to correct the excesses of a free-market economy without stifling entrepreneurship and instituting central planning. Recent events have shown that we cannot afford to treat economics as an ivory-tower abstraction. It has a direct impact on our lives by guiding regulators and policymakers as they make decisions with far-reaching practical consequences. Written in clear, accessible language, How the Economy Works makes an argument that no one should ignore.
Author | : Richard Thomas Curtin |
Publisher | : Cambridge University Press |
Total Pages | : 365 |
Release | : 2019-02-07 |
Genre | : Business & Economics |
ISBN | : 1107004691 |
Download Consumer Expectations Book in PDF, ePub and Kindle
Proposes a new comprehensive theory about how expectations are formed and how they shape the macro economy.
Author | : Roger E. A. Farmer |
Publisher | : Oxford University Press |
Total Pages | : 297 |
Release | : 2017 |
Genre | : Business & Economics |
ISBN | : 0190621435 |
Download Prosperity for All Book in PDF, ePub and Kindle
In the aftermath of the 2008 financial crisis, economists around the world have advanced theories to explain the persistence of high unemployment and low growth rates. Written in clear, accessible language by prominent macroeconomic theorist Roger E. A. Farmer, Prosperity for All proposes a paradigm shift and policy changes that could successfully raise employment rates, keep inflation at bay, and stimulate growth.
Author | : Cristina Terra |
Publisher | : Academic Press |
Total Pages | : 363 |
Release | : 2015-06-09 |
Genre | : Business & Economics |
ISBN | : 0128025387 |
Download Principles of International Finance and Open Economy Macroeconomics Book in PDF, ePub and Kindle
Principles of International Finance and Open Economy Macroeconomics: Theories, Applications, and Policies presents a macroeconomic framework for understanding and analyzing the global economy from the perspectives of emerging economies and developing countries. Unlike most macroeconomic textbooks, which typically emphasize issues about developed countries while downplaying issues related to developing countries, this book emphasizes problems in emerging economies, including those in Latin American countries. It also explains recent developments in international finance that are essential to a thorough understanding of the effects and implications of the recent financial crisis. Concentrates on developing country perspectives on International Finance and the Economy, including those in Latin American countries Provides case studies and publicly available data allowing readers to explore theories and their applications Explains recent developments in international finance that are essential to a thorough understanding of the effects and implications of the recent financial crisis Proposes a unified mathematical model accessible to those with basic mathematical skills
Author | : Jianjun Miao |
Publisher | : MIT Press |
Total Pages | : 737 |
Release | : 2014-09-19 |
Genre | : Business & Economics |
ISBN | : 0262325608 |
Download Economic Dynamics in Discrete Time Book in PDF, ePub and Kindle
A unified, comprehensive, and up-to-date introduction to the analytical and numerical tools for solving dynamic economic problems. This book offers a unified, comprehensive, and up-to-date treatment of analytical and numerical tools for solving dynamic economic problems. The focus is on introducing recursive methods—an important part of every economist's set of tools—and readers will learn to apply recursive methods to a variety of dynamic economic problems. The book is notable for its combination of theoretical foundations and numerical methods. Each topic is first described in theoretical terms, with explicit definitions and rigorous proofs; numerical methods and computer codes to implement these methods follow. Drawing on the latest research, the book covers such cutting-edge topics as asset price bubbles, recursive utility, robust control, policy analysis in dynamic New Keynesian models with the zero lower bound on interest rates, and Bayesian estimation of dynamic stochastic general equilibrium (DSGE) models. The book first introduces the theory of dynamical systems and numerical methods for solving dynamical systems, and then discusses the theory and applications of dynamic optimization. The book goes on to treat equilibrium analysis, covering a variety of core macroeconomic models, and such additional topics as recursive utility (increasingly used in finance and macroeconomics), dynamic games, and recursive contracts. The book introduces Dynare, a widely used software platform for handling a range of economic models; readers will learn to use Dynare for numerically solving DSGE models and performing Bayesian estimation of DSGE models. Mathematical appendixes present all the necessary mathematical concepts and results. Matlab codes used to solve examples are indexed and downloadable from the book's website. A solutions manual for students is available for sale from the MIT Press; a downloadable instructor's manual is available to qualified instructors.
Author | : Roger Farmer |
Publisher | : Oxford University Press |
Total Pages | : 206 |
Release | : 2010-03-31 |
Genre | : Business & Economics |
ISBN | : 0199741549 |
Download Expectations, Employment and Prices Book in PDF, ePub and Kindle
Expectations, Employment and Prices brings Keynesian economics into the 21st century by providing a new paradigm that explains how high unemployment could potentially persist forever without a little help from the government. The book fills in logical gaps that were missing from Keynes' General Theory of Employment Interest and Money by reconciling some of its key ideas with modern economic theory. Central bankers throughout the world are talking now about developing a second instrument of monetary policy in addition to controlling the interest rate. Roger Farmer directly addresses this issue and offers new creative monetary policy proposals and suggestions for the design of new financial institutions for the 21st century.
Author | : Ms.Valerie Cerra |
Publisher | : International Monetary Fund |
Total Pages | : 50 |
Release | : 2020-05-29 |
Genre | : Business & Economics |
ISBN | : 1513536990 |
Download Hysteresis and Business Cycles Book in PDF, ePub and Kindle
Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.