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Books in Macroeconomic and monetary economics general

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    • Keynesian Behavioral Macroeconomics

      • 1st Edition
      • Theodore Koutsobinas
      • English
      Keynesian Behavioral Macroeconomics analyzes Keynes’s landmark contributions in behavioral economics and develops a new and fresh genre of macroeconomic analysis. It compels us to consider seriously the earlier-generation warnings about the impact of investors’ animal spirits and financiers’ liquidity-presence using cognitive-based and social psychology heuristics. Innovative in its subject matter, approach, theoretical development and policy prescriptions, this constructivist pluralist approach can contribute to important debates. This fresh look in macroeconomics can fruitfully be applied by macroeconomists, policymakers, and market participants to prevent effective demand shortages, stimulate the economy, preserve job creation, and impact redistribution, sustainability and social inclusion.In this timely book, Theodore Koutsobinas develops a synthesis of Keynes’s macroeconomic theory with contemporary developments in behavioral macroeconomics to analyze urgent real-world challenges, and he proposes successful solutions for macroeconomic policy. This volume uniquely explains how Keynes’s magnificent, crucial, but long-forgotten dynamics can be analyzed on the basis of behavioral foundations to explain amplified global finance cycles, booms and busts, and macroeconomic instability with harmful effects on incomes and jobs.

    • Handbook of Economic Stagnation

      • 1st Edition
      • Randall Wray + 1 more
      • English
      Handbook of Economic Stagnation takes a broad view, including contributions from orthodox and heterodox economists who examine situations in countries and worldwide regions, including Japan and the Euro area. To be sure, stagnation is periodically relieved by short economic bursts usually brought on by unsustainable asset price bubbles. Once the bubbles burst, stagnation returns. This book's fresh, comprehensive approach to the topic makes it the premier source for anyone affected by these cycles.

    • Handbook of Environmental Economics

      • 1st Edition
      • Volume 4
      • English
      Handbook in Environmental Economics, Volume 4, the latest in this ongoing series, highlights new advances in the field, with this new volume presenting timely chapters on Modeling Ecosystems and Economic Systems, Framing Sustainability Policy Questions: Who Leads – Ecology or Economics?, Valuing Natural Capital Within an Integrated Economic Ecological, Developing Economies, Urbanization, Climate Change and Health, Viewing Environmental Policy Instruments for Domestic and International Perspective, Quasi experimental Estimation of Environmental Policies, Environment Macro, The Rules for Formal and Informal Institutions in Managing Environmental Resources, and How Should Uncertainty Be Integrated into the Methods for Policy Evaluation?

    • Handbook of Macroeconomics

      • 1st Edition
      • Volume 2A
      • John B. Taylor + 1 more
      • English
      Handbook of Macroeconomics surveys all major advances in macroeconomic scholarship since the publication of Volume 1 (1999), carefully distinguishing between empirical, theoretical, methodological, and policy issues. It courageously examines why existing models failed during the financial crisis, and also addresses well-deserved criticism head on. With contributions from the world's chief macroeconomists, its reevaluation of macroeconomic scholarship and speculation on its future constitute an investment worth making.

    • Handbook of Macroeconomics

      • 1st Edition
      • Volume 2B
      • John B. Taylor + 1 more
      • English
      Handbook of Macroeconomics surveys all major advances in macroeconomic scholarship since the publication of Volume 1 (1999), carefully distinguishing between empirical, theoretical, methodological, and policy issues. It courageously examines why existing models failed during the financial crisis, and also addresses well-deserved criticism head on. With contributions from the world's chief macroeconomists, its reevaluation of macroeconomic scholarship and speculation on its future constitute an investment worth making.

    • Handbook of Macroeconomics

      • 1st Edition
      • Volume 2A-2B SET
      • John B. Taylor + 1 more
      • English
      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.

    • Macroeconomic Impacts of Energy Shocks

      • 1st Edition
      • Volume 163
      • H.G. Huntington + 2 more
      • English
      Large-scale macroeconomic models have been used extensively to analyze a wide range of important economic issues. They were originally developed to study the economy's response to monetary and fiscal policies. During the 1970s these models were expanded and revised to track the inflationary processes and to incorporate key energy variables so that they could be used to examine the impacts of energy price shocks.This study compares the responses of 14 prominent macroeconomic models to supply-side shocks in the form of sudden energy price increases or decreases and to policies for lessening the impacts of price jumps. Four energy price shocks were examined: oil price increases of 50 and 20 percent, an oil price reduction of 20 percent, and an 80 percent increase in domestic natural gas prices. Five policy responses were considered for offsetting the GNP impacts of the larger oil price increase: monetary accommodation, an income tax rate reduction, an increase in the investment tax credit for equipment, a reduction in the employer's payroll tax rate, and an oil stockpile release.The study was conducted by a working group comprised of about 40 modelers and potential model users from universities, business, and government. As in previous EMF studies, the group pursued two broad goals. Firstly, they sought to understand the models themselves by identifying important similarities as well as structural differences. Secondly, they sought to use the models to sharpen their understanding of energy shocks and of the related policy issues. Their conclusions appear as the first chapter in this volume, the remaining chapters providing more technical treatment of the key structural differences among the participating models as well as their use for evaluating energy policies.This volume is addressed particularly to those interested in the energy shock issue, as well as to those with a broader interest in macroeconomic models and policies.

    • Handbook of Monetary Economics 3A

      • 1st Edition
      • Volume 3A
      • English
      What tools are available for setting and analyzing monetary policy? World-renowned contributors examine recent evidence on subjects as varied as price-setting, inflation persistence, the private sector's formation of inflation expectations, and the monetary policy transmission mechanism. Stopping short of advocating conclusions about the ideal conduct of policy, the authors focus instead on analytical methods and the changing interactions among the ingredients and properties that inform monetary models. The influences between economic performance and monetary policy regimes can be both grand and muted, and this volume clarifies the present state of this continually evolving relationship.

    • The Institutional Economics of Market-Based Climate Policy

      • 1st Edition
      • Volume 7
      • E. Woerdman
      • English
      The objective of this book is to analyze the institutional barriers to implementing market-based climate policy, as well as to provide some opportunities to overcome them. The approach is that of institutional economics, with special emphasis on political transaction costs and path dependence.Instead of rejecting the neoclassical approach, this book uses it where fruitful and shows when and why it is necessary to employ a new or neo-institutionalist approach. The result is that equity is considered next to efficiency, that the evolution and possible lock-in of both formal and informal climate institutions are studied, and that attention is paid to the politics and law of economic instruments for climate policy, including some new empirical analyses.The research topics of this book include the set-up costs of a permit trading system, the risk that credit trading becomes locked-in, the potential legal problem of grandfathering in terms of actional subsidies under WTO law or state aid under EC law, and the changing attitudes of various European officials towards restricting the use of the Kyoto Mechanisms.