An examination of Liquidity Crunch in triggering and characterizing financial crises.
Since the subprime mortgage crisis that began in 2007, advanced economies have felt a nagging sense of insecurity. In parallel, the profession has witnessed phenomena that are alien to mainstream macroeconomic models. Financial crises are systemic, occurring simultaneously in different economies. In this book, Guillermo Calvo focuses on liquidity factors as a commonality in financial crises. Specifically, he examines the role of "liquidity crunch" in triggering crises. He also identifies a fundamental (but overlooked) idea in Keynes's General Theory, termed by Calvo the price theory of money, to rationalize the resiliency of the U.S. dollar when other dollar-backed assets suffered a devastating liquidity crunch.
Calvo shows that a sharp focus on liquidity reveals some characteristics of liquid assets that are easy to miss otherwise. He argues for liquidity's centrality, presenting what he calls the Liquidity Approach. He shows that simple extensions of standard monetary models help rationalize the implications of the liquidity crunch, and then examines slightly more technical models that highlight liquidity issues. He explores the empirical effects of liquidity crunch by studying systemic sudden stops (of capital inflows), presuming that they are triggered by liquidity crunch-type phenomena.
Автор: Obstfeld, Maurice Название: Foundations of International Macroeconomics ISBN: 0262150476 ISBN-13(EAN): 9780262150477 Издательство: MIT Press Рейтинг: Цена: 13035.00 р. 18622.00-30% Наличие на складе: Есть (1 шт.) Описание:
Foundations of International Macroeconomics is an innovative text that offers the first integrative modern treatment of the core issues in open economy macroeconomics and finance. With its clear and accessible style, it is suitable for first-year graduate macroeconomics courses as well as graduate courses in international macroeconomics and finance. Each chapter incorporates an extensive and eclectic array of empirical evidence. For the beginning student, these examples provide motivation and aid in understanding the practical value of the economic models developed. For advanced researchers, they highlight key insights and conundrums in the field.
Topic coverage includes intertemporal consumption and investment theory, government spending and budget deficits, finance theory and asset pricing, the implications of (and problems inherent in) international capital market integration, growth, inflation and seignorage, policy credibility, real and nominal exchange rate determination, and many interesting special topics such as speculative attacks, target exchange rate zones, and parallels between immigration and capital mobility. Most main results are derived both for the small country and world economy cases. The first seven chapters cover models of the real economy, while the final three chapters incorporate the economy's monetary side, including an innovative approach to bridging the usual chasm between real and monetary models.
Автор: Azariadis Costas Название: Intertemporal Macroeconomics ISBN: 1557863660 ISBN-13(EAN): 9781557863669 Издательство: Wiley Рейтинг: Цена: 11747.00 р. 16782.00-30% Наличие на складе: Есть (1 шт.) Описание: Intertemporal Macroeconomics is the first text to offer a unified and systematic exposition of the key issues, both traditional and new, in dynamic macroeconomics. Based on neoclassical growth theory, the book is designed for graduate and advanced undergraduate students in macroeconomics and finance.
Автор: Burda Название: Macroeconomics 4/e ISBN: 0199264961 ISBN-13(EAN): 9780199264964 Издательство: Oxford Academ Цена: 6651.00 р. Наличие на складе: Поставка под заказ.
Описание: Provides an analysis of modern macroeconomics within both a European and a global context. This work contains theoretical approaches, along with reference to data and case study examples. It offers teaching and learning aids such as chapter overviews, summaries of key concepts, end of chapter exercises, and suggestions for further reading.
Автор: Hoover Название: Applied Intermediate Macroeconomics ISBN: 1107436826 ISBN-13(EAN): 9781107436824 Издательство: Cambridge Academ Рейтинг: Цена: 7445.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This textbook offers a complete course in applied macroeconomics at the intermediate level that emphasizes the application of economic theory to real-world data and policy. The text is unique in developing a detailed toolkit of elementary statistics and graphical techniques for economic data.
Автор: Hoover Название: Applied Intermediate Macroeconomics ISBN: 0521763886 ISBN-13(EAN): 9780521763882 Издательство: Cambridge Academ Рейтинг: Цена: 9979.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This textbook offers a complete course in applied macroeconomics at the intermediate level that emphasizes the application of economic theory to real-world data and policy. The text is unique in developing a detailed toolkit of elementary statistics and graphical techniques for economic data.
Автор: Taylor, John B. Название: Handbook of Macroeconomics vol. 2A-2B SET ISBN: 0444594876 ISBN-13(EAN): 9780444594877 Издательство: Elsevier Science Рейтинг: Цена: 33686.00 р. Наличие на складе: Поставка под заказ.
Описание: Handbook of Macroeconomics Volumes 2A and 2B surveys major advances in macroeconomic scholarship since the publication of Volume 1 (1999), carefully distinguishing between empirical, theoretical, methodological, and policy issues, including fiscal, monetary, and regulatory policies to deal with crises, unemployment, and economic growth. As this volume shows, macroeconomics has undergone a profound change since the publication of the last volume, due in no small part to? the questions thrust into the spotlight by the worldwide financial crisis of 2008. With contributions from the world’s leading macroeconomists, its reevaluation of macroeconomic scholarship and assessment of its future constitute an investment worth making.
Автор: Acar, Sevil Название: Macroeconomics of Climate Change in a Dualistic Economy ISBN: 0128135190 ISBN-13(EAN): 9780128135198 Издательство: Elsevier Science Рейтинг: Цена: 13304.00 р. Наличие на складе: Поставка под заказ.
Описание:
Macroeconomics of Climate Change in a Dualistic Economy: A Regional General Equilibrium Analysis generates significant, genuinely novel insights about dual economies and sustainable economic growth. These insights are generalize-able and applicable worldwide. The authors overcome existing limitations in general equilibrium modeling. By concentrating on tensions between green growth and dualism, they consider the global efforts against climate change and opposition by specific countries based on economic development needs. Using Turkey as their primary example, they address these two most discussed and difficult issues related to policy setting, blazing a path for those seeking an applied economic research framework to study such economic considerations.
Couples a CGE climate change mitigation policy analysis with a dual economy approach
Presents methods to model and assess policy instruments for mitigating climate change
Provides data sets and models on a freely-accessible companion website
Offers a path for those seeking an applied economic research framework to study economic considerations
Автор: Vegh Carlos A Название: Open Economy Macroeconomics in Developing Countries ISBN: 026201890X ISBN-13(EAN): 9780262018906 Издательство: MIT Press Рейтинг: Цена: 17775.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание:
A comprehensive and rigorous text that shows how a basic open economy model can be extended to answer important macroeconomic questions that arise in emerging markets.
This rigorous and comprehensive textbook develops a basic small open economy model and shows how it can be extended to answer many important macroeconomic questions that arise in emerging markets and developing economies, particularly those regarding monetary, fiscal, and exchange rate issues. Eschewing the complex calibrated models on which the field of international finance increasingly relies, the book teaches the reader how to think in terms of simple models and grasp the fundamentals of open economy macroeconomics.
After analyzing the standard intertemporal small open economy model, the book introduces frictions such as imperfect capital markets, intertemporal distortions, and nontradable goods, into the basic model in order to shed light on the economy's response to different shocks. The book then introduces money into the model to analyze the real effects of monetary and exchange rate policy. It then applies these theoretical tools to a variety of important macroeconomic issues relevant to developing countries (and, in a world of continuing financial crisis, to industrial countries as well), including the use of a nominal interest rate as a main policy instrument, the relative merits of flexible and predetermined exchange rate regimes, and the targeting of "real anchors." Finally, the book analyzes in detail specific topics such as inflation stabilization, "dollarization," balance of payments crises, and, inspired by recent events, financial crises. Each chapter includes boxes with relevant empirical evidence and ends with exercises. The book is suitable for use in graduate courses in development economics, international finance, and macroeconomics.
Автор: De Vroey Название: A History of Macroeconomics from Keynes to Lucas and Beyond ISBN: 0521898439 ISBN-13(EAN): 9780521898430 Издательство: Cambridge Academ Рейтинг: Цена: 20117.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This book retraces the history of macroeconomics from Keynes`s General Theory to the present, especially the contrast between a Keynesian era and a Lucasian - or dynamic stochastic general equilibrium (DSGE) - era. It also examines a few selected works aimed at presenting alternatives to Lucasian macroeconomics.
Автор: Paul Krugman; Robin Wells Название: Macroeconomics, 5th Edition ISBN: 1319098754 ISBN-13(EAN): 9781319098759 Издательство: Springer Рейтинг: Цена: 9781.00 р. Наличие на складе: Поставка под заказ.
Описание:
Paul Krugman and Robin Wells' signature storytelling style helps readers understand how economic concepts play out in our world. The new edition, revised and enhanced throughout, now offers holistic digital learning tools as part of SaplingPlus, a complete, integrated online learning system.
This new edition is revised and enhanced throughout, including a much stronger array of superior online tools that are part of a complete, integrated online learning system.
Автор: Krugman Paul, Wells Robin Название: Macroeconomics, 3rd edition ISBN: 1429283432 ISBN-13(EAN): 9781429283434 Издательство: Macmillan Цена: 9312.00 р. Наличие на складе: Поставка под заказ.
Описание: When it comes to explaining current economic conditions, there is no economist readers trust more than New York Times columnist and Nobel laureate Paul Krugman. Term after term, Krugman is earning that same level of trust in the classroom, with more and more instructors introducing students to the fundamental principles of economics via Krugman's signature storytelling style. The new Third Edition of Paul Krugman and Robin Wells's Economics is their most accomplished yet--extensively updated to offer new examples and stories, new case studies from the business world, and expert coverage of the ongoing financial crisis.
Watch a video interview of Paul Krugman here.
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