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Macroeconomic Theory: A Dynamic General Equilibrium Approach 2ed (ISE)

by Michael Wickens Princeton University Press
Pub Date:
03/2012
ISBN:
9780691152868
Format:
Hbk 616 pages
Price:
AU$99.00 NZ$104.35
Product Status: Not Our Publication - we no longer distribute
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Instructors
& Academics:
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
''Accessible, comprehensive, and wide-ranging, Macroeconomic Theory will become the standard text for students and is ideal for economists, particularly those in government, central and commercial banking, and financial investment.''--World Book Industry
Michael Wickens is professor of economics at the University of York and at Cardiff Business School. He is the coeditor of 'Handbook of Applied Econometrics' and was managing editor of the 'Economic Journal' from 1996 to 2004. He is specialist adviser to the House of Lords on macroeconomics and a member of the Shadow Monetary Policy Committee.