Advanced Macroeconomics: A Primer - Hardcover

Minford, Patrick; Peel, David

Hardcover

ISBN 10: 1840640901 ISBN 13: 9781840640908

Publisher: Edward Elgar Publishing Ltd, 2002

Synopsis

Since the rational expectations revolution in macroeconomics, the subject has changed massively, adopting the principles behind the revolution and building on them in a spectacular way. In this accessible and informative book, the authors guide the student through what has become the conceptual and mathematical maze of modern macroeconomics. It is intended primarily for the postgraduate student but will also be useful for upper level undergraduates. It explains the basics of each topic and provides a solid grounding for the student to tackle more complex and detailed material in the area.

The topics covered include:

• an introduction to the traditional macro-classical macro/adaptive expectations
• how to understand and solve standard macro models with rational expectations
• implications of rational expectations for monetary and fiscal policy
• the open economy
• the new models of representative agents and real business cycles
• the political economy of economic policy (the 'political business cycle') and independent central banks
• the supply-side, unemployment and growth
• empirical testing of the rational expectations hypothesis
• the efficient markets hypothesis with empirical applications including bond and exchange markets
• learning, time series-linear and nonlinear.

About this title

About the Author

Patrick Minford, Professor of Applied Economics, Cardiff Business School, Cardiff University and David Peel, Professor of Economics, Lancaster University Management School, University of Lancaster, UK

Edition details

• Publisher: Edward Elgar Publishing Ltd
• Publication date: 2002
• Language: English
• ISBN 10: 1840640901
• ISBN 13: 9781840640908
• Binding: Hardcover
• Number of pages: 560