Macroeconomic theory : a dynamic general equilibrium approach / Michael Wickens.

Format:

Book

Author/Creator:

Wickens, Mike, author.

Language:

English

Subjects (All):

Macroeconomics.

Physical Description:

1 online resource (xvii, 596 p. ) ill. ;

Edition:

2nd ed.

Place of Publication:

Princeton ; Oxford : Princeton University Press, [2011]

Language Note:

English

Summary:

Macroeconomic Theory is the most up-to-date graduate-level macroeconomics textbook available today. This revised second edition emphasizes the general equilibrium character of macroeconomics to explain effects across the whole economy while taking into account recent research in the field. It is the perfect resource for economists who need to brush up on the latest developments. Michael Wickens lays out the core ideas of modern macroeconomics and its links with finance. He presents the simplest general equilibrium macroeconomic model for a closed economy, and then gradually develops a comprehensive model of the open economy. Every important topic is covered, including growth, business cycles, fiscal policy, taxation and debt finance, current account sustainability, and exchange-rate determination. There is also an up-to-date account of monetary policy through inflation targeting. Wickens addresses the interrelationships between macroeconomics and modern finance and shows how they affect stock, bond, and foreign-exchange markets. In this edition, he also examines issues raised by the most recent financial crisis and two new chapters explore banks, financial intermediation, and unconventional monetary policy, as well as modern theories of unemployment. There is new material in most other chapters, including macrofinance models and inflation targeting when there are supply shocks. While the mathematics in the book is rigorous, the fundamental concepts presented make the text self-contained and easy to use. Accessible, comprehensive, and wide-ranging, Macroeconomic Theory is the standard book on the subject for students and economists. The most up-to-date graduate macroeconomics textbook available today General equilibrium macroeconomics and the latest advances covered fully and completely Two new chapters investigate banking and monetary policy,

and unemployment Addresses questions raised by the recent financial crisis Web-based exercises with answers Extensive mathematical appendix for at-a-glance easy reference.

Contents:

Introduction

The centralized economy

Economic growth

The decentralized economy

Government: expenditures and public finances

Fiscal policy: further issues

The open economy

The monetary economy

Imperfectly flexible prices

Unemployment

Asset pricing and macroeconomics

Financial markets

Nominal exchange rates

Monetary policy

Banks, financial intermediation, and unconventional monetary policy

Real business cycles, DSGE models, and economic fluctuations

Mathematical appendix.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Includes bibliographical references (pages [575]-587) and index.

Description based on print version record.

ISBN:

9786613379702

9781283379700

1283379708

9781400842476

1400842476

OCLC:

1024277008