Описание: "This revised second edition of Monetary Policy, Inflation, and the Business Cycle provides a rigorous graduate-level introduction to the New Keynesian framework and its applications to monetary policy. The New Keynesian framework is the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. A backbone of the new generation of medium-scale models under development at major central banks and international policy institutions, the framework provides the theoretical underpinnings for the price stability-oriented strategies adopted by most central banks in the industrialized world. Using a canonical version of the New Keynesian model as a reference, Jordi Gali explores various issues pertaining to monetary policy`s design, including optimal monetary policy and the desirability of simple policy rules. He analyzes several extensions of the baseline model, allowing for cost-push shocks, nominal wage rigidities, and open economy factors. In each case, the effects for monetary policy are addressed, with emphasis on the desirability of inflation-targeting policies. New material includes labor and financial market frictions, the zero lower bound on nominal interest rates, and an analysis of unemployment`s significance for monetary policy. The most up-to-date introduction to the New Keynesian framework available A single benchmark model used throughout New materials and exercises included An ideal resource for graduate students, researchers, and market analysts "--
Автор: Fuhrer, Jeff, Et Al, Название: Understanding inflation & the implicatio ISBN: 0262013630 ISBN-13(EAN): 9780262013635 Издательство: Wiley Рейтинг: Цена: 1731 р. Наличие на складе: Поставка под заказ.
Описание: Current perspectives on the Phillips curve, a core macroeconomic concept that treats the relationship between inflation and unemployment.
Автор: Sargent Thomas J Название: Rational Expectations and Inflation ISBN: 0691158703 ISBN-13(EAN): 9780691158709 Издательство: Wiley Рейтинг: Цена: 4895 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This collection of essays uses the lens of rational expectations theory to examine how governments anticipate and plan for inflation, and provides insight into the pioneering research for which Thomas Sargent was awarded the 2011 Nobel Prize in economics. Rational expectations theory is based on the simple premise that people will use all the information available to them in making economic decisions, yet applying the theory to macroeconomics and econometrics is technically demanding. Here, Sargent engages with practical problems in economics in a less formal, noneconometric way, demonstrat
Автор: Woodbury Stephen A., Davidson Carl Название: Search Theory and Unemployment ISBN: 140207333X ISBN-13(EAN): 9781402073335 Издательство: Springer Рейтинг: Цена: 17764 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Search Theory and Unemployment contains nine chapters that survey and extend the theory of job search and its application to the problem of unemployment. The volume ranges from surveys of job search theory that take microeconomic and macroeconomic perspectives to original theoretical contributions which focus on the externalities arising from non-sequential search and search under imperfect information. It includes a clear and authoritative survey of econometric methods that have been developed to estimate models of job search, as well as two lucid contributions to the empirical search literature. Finally, it includes a study that reviews and extends the literature on optimal unemployment insurance and concludes with an appraisal of the influence of search theory on the thinking of macroeconomic policymakers.
Описание: The New Keynesian framework has emerged as the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations, and
welfare. It is the backbone of the new generation of medium-scale models under development at major central banks and international policy institutions, and provides the theoretical
underpinnings of the inflation stability-oriented strategies adopted by most central banks throughout the industrialized world.This graduate-level textbook provides an introduction to the
New Keynesian framework and its applications to monetary policy. Using a canonical version of the New Keynesian model as a reference framework, Jordi Gali explores issues
pertaining to the design of monetary policy, including the determination of the optimal monetary policy and the desirability of simple policy rules.
He analyzes several extensions
of the baseline model, allowing for cost-push shocks, nominal wage rigidities, and open economy factors. In each case, the implications for monetary policy are addressed, with a special
emphasis on the desirability of inflation targeting policies. This is the most up-to-date and accessible introduction to the New Keynesian framework available.
It uses a single
benchmark model throughout. It is concise and easy to use. It includes exercises, and is an ideal resource for graduate students, researchers, and market analysts.
Автор: Granville Brigitte Название: Remembering Inflation ISBN: 0691145407 ISBN-13(EAN): 9780691145402 Издательство: Wiley Рейтинг: Цена: 3927 р. Наличие на складе: Поставка под заказ.
Today's global economy, with most developed nations experiencing very low inflation, seems a world apart from the "Great Inflation" that spanned the late 1960s to early 1980s. Yet, in this book, Brigitte Granville makes the case that monetary economists and policymakers need to keep the lessons learned during that period very much in mind, lest we return to them by making the same mistakes we made in the past.
Granville details the advances in macroeconomic thinking that gave rise to the "Great Moderation"--a period of stable inflation and economic growth, which lasted from the mid-1980s through the most recent financial crisis. She makes the case that the central banks' management of monetary policy--hinging on expectations and credibility--brought about this period of stability, and traces the roots of this success back to the eighteenth-century foundations of modern monetary thought.
Tackling fundamental questions such as the causes of inflation and its relation to unemployment and growth, the natural rate of inflation hypothesis, the fiscal theory of the price level, and the proper goals of central banks, the book aims above all to demonstrate the dangers of forgetting the role of credibility in establishing sound monetary policy. With the lessons of the past firmly in mind, Granville presents stimulating ideas and proposals about inflation-targeting principles, which provide tools for present-day monetary authorities dealing with the forces of globalization, mercantilism, and reserve accumulation.
Описание: The 17 seminal essays by Robert J. Gordon collected here, including three previously unpublished works, offer sharply etched views on the principal topics of macroeconomics - growth, inflation, and unemployment. The author re-examines their salient points in a uniquely creative, accessible introduction that serves on its own as an introduction to modern macroeconomics. Each of the four parts into which the essays are grouped also offers a new introduction. The papers in Part I explore different key aspects of the history, theory, and measurement of productivity growth. The essays in Part II investigate the sources of business cycles and productivity fluctuations. Those in Part III cover the effects of supply shocks in macroeconomics. The final group presents empirical studies of the dynamics of inflation in the United States. The foreword by Nobel Laureate Robert M. Solow comments on the abiding importance of these essays drawn from 1968 to the present.
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