Advanced Macroeconomics : An Easy Guide / Filipe Campante

Format:

Book

Author/Creator:

Campante, Filipe, author.

Sturzenegger, Federico, author.

Velasco, Andrés, author.

Contributor:

Open Textbook Library, distributor.

Series:

Open textbook library.

Language:

English

Subjects (All):

Business--Textbooks.

Business.

Social sciences--Textbooks.

Social sciences.

Economics--Textbooks.

Economics.

Physical Description:

1 online resource

Distribution:

Minneapolis, MN : Open Textbook Library

Place of Publication:

London, England : LSE Press, [2021]

Language Note:

In English.

Summary:

Macroeconomic policy is one of the most important policy domains, and the tools of macroeconomics are among the most valuable for policy makers. Yet there has been, up to now, a wide gulf between the level at which macroeconomics is taught at the undergraduate level and the level at which it is practiced. At the same time, doctoral-level textbooks are usually not targeted at a policy audience, making advanced macroeconomics less accessible to current and aspiring practitioners. This book, born out of the Masters course the authors taught for many years at the Harvard Kennedy School, fills this gap. It introduces the tools of dynamic optimization in the context of economic growth, and then applies them to a wide range of policy questions - ranging from pensions, consumption, investment and finance, to the most recent developments in fiscal and monetary policy. It does so with the requisite rigor, but also with a light touch, and an unyielding focus on their application to policy-making, as befits the authors' own practical experience. Advanced Macroeconomics: An Easy Guide is bound to become a great resource for graduate and advanced undergraduate students, and practitioners alike.

Contents:

Introduction

Part 1: Growth Theory

Growth theory preliminaries

The neoclassical growth model

An application: The small open economy

Endogenous growth models I: Escaping diminishing returns

Endogenous growth models II: Technological change

Proximate and fundamental causes of growth

Part 2: Overlapping Generations Models

Overlapping generations models

An application: Pension systems and transitions

Unified growth theory

Part 3: Consumption and Investment

Consumption

Consumption under uncertainty and macro finance

Investment

Part 4: Short Term Fluctuations

Real business cycles

(New) Keynesian theories of fluctuations: A primer

Unemployment

Part 5: Monetary and Fiscal Policy

Fiscal policy I: Public debt and the effectiveness of fiscal policy

Fiscal policy II: The long-run determinants of fiscal policy

Monetary policy: An introduction

Rules vs Discretion

Recent debates in monetary policy

New developments in monetary and fiscal policy

Appendix A: Very brief mathematical appendix

Appendix B: Simulating an RBC model

Appendix C: Simulating a DSGE model

Notes:

Description based on print resource

ISBN:

9781909890695

Access Restriction:

Open Access Unrestricted online access