Macroeconomics Books
Cambridge University Press Evolutionary Selection and KeynesSchumpeter Macroeconomics
£18.00
Cambridge University Press The Citys Defense
£29.44
Routledge Modern Labor Economics
a huge range and FREE tracked UK delivery on ALL orders.
£52.24
Cambridge University Press A History of Big Recessions in the Long Twentieth
Book SynopsisThis book examines the array of financial crises, slumps, depressions and recessions that happened around the globe during the twentieth and early twenty-first centuries. It covers events including World War I, hyperinflation and market crashes in the 1920s, the Great Depression of the 1930s, stagflation of the 1970s, the Latin American debt crises of the 1980s, the post-socialist transitions in Central Eastern Europe and Russia in the 1990s, and the great financial crisis of 20089. In addition to providing wide geographic and historical coverage of episodes of crisis in North America, Europe, Latin America and Asia, the book clarifies basic concepts in the area of recession economics, analysis of high inflation, debt crises, political cycles and international political economy. An understanding of these concepts is needed to comprehend big recessions and slumps that often lead to both political change and the reassessment of prevailing economic paradigms.Trade Review'The twentieth century saw plenty of booms and busts, and the early twenty-first century saw a financial crash - threatening a repeat of the 1930s depression. Andrés Solimano provides the reader with an authoritative guide to these busts, crashes and depressions. This book is not only a history of capitalism, but also a warning that the next calamity is just around the corner.' Tony Addison, United Nations University World Institute for Development Economics Research'Fully conversant with changing economic and monetary theories and associated policy interventions, Solimano deploys a wealth of macroeconomic financial data to drive home one enduring feature, namely, the instability of capitalism. His book is economic history at its best, something the economics curriculum of today could hugely benefit from.' Anthony D'Costa, University of Alabama, Huntsville'This masterful guided-tour of the economic downturns in recent history is both spectacularly rich and absolutely indispensable. Solimano begs the question: when shall we learn from our mistakes?' Dimitry Kochenov, University of Groningen'The statistics collected by Solimano in this book are a gold mine for economists. He goes beyond simple lack-of-demand analyses and points out limitations of Keynesian stabilization policy as important, and at times useful, could not be a miracle cure for recessions.' Vito Tanzi, author of Termites of the StateTable of Contents1. Introduction; 2. Recessions and depressions: an overview of theories and empirics; 3. World War I, hyperinflation in the 1920s and World War II; 4. The Great Depression of the 1930s; 5. Stagflation in the 1970s, globalization and the financial crisis of 2008–9; 6. Two depressions in the early twenty-first century: the cases of Latvia and Greece; 7. Soviet-type of socialism and the post-socialist transition; 8. Economic crises in Latin America and East Asia; 9. Synthesis and interpretation.
£26.99
Pearson Education Macroeconomics Global Edition
Book SynopsisTable of ContentsI. Introduction1. Economics: Foundations and Models 2. Trade-offs, Comparative Advantage, and the Market System 3. Where Prices Come From: The Interaction of Demand and Supply 4. Economic Efficiency, Government Price Setting, and Taxes 5. The Economics of Health Care II. Firms in the Domestic and International Economies 6. Firms, the Stock Market, and Corporate Governance 7. Comparative Advantage and the Gains from International Trade III. Macroeconomic Foundations and Long-Run Growth 8. GDP: Measuring Total Production and Income 9. Unemployment and Inflation 10. Economic Growth, the Financial System, and Business Cycles 11. Long-Run Economic Growth: Sources and Policies IV. Short-Run Fluctuations 12. Aggregate Expenditure and Output in the Short Run 13. Aggregate Demand and Aggregate Supply Analysis V. Monetary and Fiscal Policy 14. Money, Banks, and the Federal Reserve System 15. Monetary Policy 16. Fiscal Policy 17. Inflation, Unemployment, and Federal Reserve Policy VI. The International Economy 18. Macroeconomics in an Open Economy 19. The International Financial System
£68.99
Pearson Education Economics for Managers Global Edition
Book SynopsisTable of Contents PART 1. MICROECONOMIC ANALYSIS 1. Managers and Economics 2. Demand, Supply, and Equilibrium Prices 3. Demand Elasticities 4. Techniques for Understanding Consumer Demand and Behavior 5. Production and Cost Analysis in the Short Run 6. Production and Cost Analysis in the Long Run 7. Market Structure: Perfect Competition 8. Market Structure: Monopoly and Monopolistic Competition 9. Market Structure: Oligopoly 10. Pricing Strategies for the Firm PART 2. MACROECONOMIC ANALYSIS 11. Measuring Macroeconomic Activity 12. Spending by Individuals, Firms, and Governments on Real Goods and Services 13. The Role of Money in the Macro Economy 14. The Aggregate Model of the Macro Economy 15. International and Balance of Payments Issues in the Macro Economy PART 3. INTEGRATION OF THE FRAMEWORKS 16. Combining Micro and Macro Analysis for Managerial Decision Making SOLUTIONS TO EVEN-NUMBERED PROBLEMS GLOSSARY INDEX
£77.89
John Murray Press The Passion Economy
Book SynopsisAn indispensable roadmap and a refreshingly optimistic take on our economic future: Award-winning New Yorker staff writer and brilliant creator of NPR's Planet Money shows us how the 21st century economic paradigm offers unprecedented opportunities for curious, ambitious individuals to combine the things they love with their careers.Trade ReviewHis book injects some grounded, non-jargon-laden reality into the bland corporate-speak around notions of passion, engagement and purpose. * Financial Times *
£10.44
Emerald Publishing Limited The Rise of Precarious Employment in Europe:
Book SynopsisThe deterioration of employment conditions for an increasing number of employees in late capitalism has prompted researchers to find ways to conceptualise, as well as measure, these observed new tendencies. This book examines precarious employment in Europe through the economic crisis, drawing on two main sources: theories of how the financial and debt crisis coupled with labour market reforms to exacerbate precarity in the workforce; and data from the European Labour Force Survey from 2005-12, capturing various aspects of precarious employment. It also includes a detailed discussion of policy developments in a series of EU countries, with the aim of demonstrating how precarity has been directly linked with certain labour market reforms implemented both before and after the crisis. The authors conclude that the crisis and the labour market reforms represent significant pillars of the strategy used by states and employers to respond to the crisis, as well as promote their competitiveness agenda. The reduction of labour costs and the promotion of higher flexibility are the ultimate goals of that strategy, but the side-effects include an inability to provide high quality jobs to a growing number of people, especially young people. The authors also capture the extent of precarious employment, providing comparable evidence across EU countries.Table of ContentsForewordIntroduction Chapter One: Theory, Concepts and EU Context Chapter Two: Definitions, Measurements and EU Empirical Analysis Discussion
£45.99
World Scientific Europe Ltd Decoding Economic Crises
Book SynopsisConstantly bandied about, 'crisis' has tended to be a much-overused word. Understanding the economy and its future challenges requires a detailed and precise analysis of what an economic crisis is. This book sets out to do just that. It first provides a deep historical context of what economic theory says about crises and their perpetual return in the form of a cycle. It then looks at what lessons might be learned from such cycles. Since 1945, the world economy has been dominated by the United States, so an analysis of recent crises must necessarily consider public policy response in this country. Decoding Economic Crises attempts to answer the question of whether American leadership has emerged unscathed from the damage inflicted by the 1975, 1992, 2009 and 2020 recessions and their legacies of debt.Looking forward to the future, there is a particular focus on environmental change. The book interrogates whether devastating crises might ensue, reminiscent of the 'nutritional trap' theorised by Nobel Prize winner Angus Deaton. Finally, Decoding Economic Crises asks if there will be a return to times of extreme scarcity as seen prior to the mid-18th century.
£42.75
Verso The General Theory of Employment Interest and Money
a huge range and FREE tracked UK delivery on ALL orders.
£14.96
Lynne Rienner Publishers Latin American Exports to China
a huge range and FREE tracked UK delivery on ALL orders.
£36.57
Austin Macauley Publishers LLC African Financial Ecosystem
Book Synopsis
£17.99
Cambridge University Press Replacing GDP by 2030
Book SynopsisHow did Gross domestic product (GDP) become the world''s most influential indicator? Why does it still remain the primary measure of societal progress despite being widely criticised for not considering well-being or sustainability? Why have the many beyond-GDP alternatives not managed to effectively challenge GDP''s dominance? The success of GDP and the failure of beyond-GDP lies in their underlying communities. The macro-economic community emerged in the aftermath of the Great Depression and WWII. This community formalised their ''language'' in the System of National Accounts (SNA) which provided the global terminology with which to communicate. On the other hand, beyond-GDP is a heterogeneous community which speaks in many dialects, accents and languages. Unless this changes, the ''beyond-GDP cottage industry'' will never beat the ''GDP-multinational''. This book proposes a new roadmap to 2030, detailing how to create a multidisciplinary Wellbeing and Sustainability Science (WSS) with a common language, the System of Global and National Accounts (SGNA).Trade Review'This book shows why a 'beyond-GDP world' is needed and how it can be built. A must-read contribution to the move towards a sustainable future.' Enrico Giovannini, Università degli Studi di Roma Tor Vergata and former Minister of Labour and Social Policies in the Italian government'In crisp prose, Rutger Hoekstra conveys an important message. We won't convince policy makers to look beyond GDP simply by multiplying the production of well-being indicators. Something more is clearly needed.' Marco Mira d'Ercole, Head of Household Statistics, OECD'This book by environmental economist Hoekstra does not only offer a good read and an excellent introduction to the big debate about GDP and beyond GDP. It also provides a clear strategy to make beyond-GDP much more effective and to learn from the success of GDP as an indicator and language.' Frits Bos, CPB Netherlands Bureau for Economics Policy Analysis and author of The National Accounts as a Tool for Analysis and Policy: in View of History, Economic Theory and Data Compilation Issues'There are many publications criticising, for the right or for the wrong reasons, GDP and national accounts. But hardly anyone comes up with a valid way-out. Rutger Hoekstra not only puts forward a well thought-out alternative, but also provides a strategy for replacing the hegemony of GDP. Will it work?' Peter van de Ven, Head of National Accounts, Organisation for Economic Co-operation and Development'This is a powerful and timely contribution to the debate about how to move beyond GDP - and what to use instead - in seeking to understand the economy and bring about improvements in people's lives. There is no question that the conventional economic statistics have outlived their use; they obscure rather than enlighten. The importance of this book is in its thoughtful and detailed proposals for change.' Diane Coyle, Bennett Professor of Public Policy, University of Cambridge and author of GDP: A Brief but Affectionate History'The beyond-GDP discussion has been raging on for decades, and progress has been slow. Drawing upon years of experience as a high-level international statistician, Rutger Hoekstra offers an original and highly informed view from the trenches on the why and how. His innovative and ambitious proposal for a way out deserves to be widely read and discussed.' Marcel Timmer, Director of the Groningen Growth and Development Centre (GGDC), Rijksuniversiteit Groningen'I therefore cannot recommend highly enough environmental economist Rutger Hoekstra's book Replacing GDP by 2030. In my view it is the most interesting and thoroughly evidence based approach to taking the debate on replacing GDP forward. It should be required reading for every economic minister and spokesperson as well as every research body in Scotland.' Roger Mullin, The NationalTable of ContentsPart I. Why A New Strategy Is Needed; 1. Replacing the most influential indicator in the world; 2. Why is GDP successful?; 3. What does GDP measure (and what does it not)?; 4. Why is beyond-GDP not successful?; Part II. The New Strategy: A Community for Well-being and Sustainability: 5. Outline of the strategy; 6. Global environmental accounts (GENA); 7. Global societal accounts (GSA); 8. Global economic accounts (GECA); 9. Global distribution accounts (GDA); 10. Global quality accounts (GQA) and quality indicators; 11. Implementation of the strategy.
£36.65
Macmillan Learning Macroeconomics European Edition
Book SynopsisThe new European edition of Mankiw''s bestselling and highly readable text communicates the theories and models of macroeconomics in a concise and accessible way, with real-world examples, discussions and case studies. The text is fully updated with extensive coverage of the global financial crisis and in particular its impact on European economies.
£75.04
Oxford University Press Foundations of Modern Macroeconomics
Book SynopsisThe study of macroeconomics can seem a daunting project. The field is complex and sometimes poorly defined and there are a variety of competing approaches. It is easy for the senior bachelor and starting master student to get lost in the forest of macroeconomics and the mathematics it uses extensively. Foundations of Modern Macroeconomics is a guide book for the interested and ambitious student. Non-partisan in its approach, it deals with all the major topics, summarising the important approaches and providing the reader with a coherent angle on all aspects of macroeconomic thought. Each chapter deals with a separate area of macroeconomics, and each contains a summary section of key points and a further reading list. Using nothing more than undergraduate mathematical skills, it takes the student from basic IS-LM style macro models to the state of the art literature on Dynamic Stochastic General Equilibrium, explaining the mathematical tricks used where they are first introduced. Fully Trade ReviewReview from previous edition This book will be an extremely valuable addition to the reading list for core graduate macroeconomics courses. It provides a fair and balanced account of the different schools of macroeconomic thought and the current state of the discipline. A large number of topics are treated; the sections which cover technical material are particularly praiseworthy. The authors convey a sense of enthusiasm about the subject and show that macroeconomics can, indeed, be exciting * Professor John Fender, University of Birmingham *This is a good addition to the textbook market. The coverage of topics is comprehensive and it takes students from an intermediate to graduate level with commendable ease * Shaun Hargreaves Heap, University of East Anglia *A remarkably clear and coherent presentation of nearly all the analytical and conceptual tools one needs to be a good macroeconomist, from the short run to the long run, from simple to more complex models, from the closed to the open economy. An impressive tour de force. * Olivier Blanchard, Robert Solow Professor of Economics, Emeritus, MIT; Fred Bergsten Senior Fellow, Peterson Institute for International Economics *This wonderful book provides a balanced and accessible account of modern macroeconomic theory. Both neoclassical and New Keynesian theories are presented in a consistent framework. Graduate students as well as advanced undergraduate students will find it an invaluable source of information. * Dirk Krueger, Professor, Department of Economics, University of Pennsylvania *This textbook fills a much needed gap between standard intermediate macro textbooks and the more advanced ones used in Ph.D training. It takes the student by the hand to lift them out of IS-LM and introduce them gently to the tools used in todays macroeconomic research. * Professor David de la Croix, Professor of Economics, Université catholique de Louvain *Table of ContentsINTERMEDIATE MACROECONOMICS; TOWARDS ADVANCED MACROECONOMICS; STOCHASTIC GENERAL EQUILIBRIUM MACROECONOMICS; MATHEMATICAL APPENDIX
£65.55
Oxford University Press Macroeconomics
Book SynopsisThis text provides a comprehensive analysis of contemporary macroeconomics, within a European and global context. The authors balance the theoretical aspects with up-to-date policy examples throughout, allowing the reader to relate the concepts to their own economic environment.Trade ReviewBurda and Wyplosz have done a marvelous job for this eighth edition by further tweaking what has long since been an outstanding foundational book in macroeconomics. Macroeconomics: A European Text is superb in striking the right balance between theory and evidence and it remains peerless in integrating open economy aspects to the macroeconomics curriculum. The book continuous to be the go-to book for equipping undergraduate students with the thinking tools needed for understanding modern macroeconomics. * Mark Weder, Professor of Economics, Aarhus University *An excellent introduction to macroeconomics. It explains advanced concepts in easily understood models and language, with applications to real-world problems that helps students grow into mature economists. Many of Europe's economic challenges are different from those of the United States and other advanced countries, because of its unique nature of a large market made up of several smaller entities that have discretion over many aspects of economic management. It is most welcome to find a book that addresses these issues within a rigorous, yet approachable framework, that can help the reader engage in a well-informed discourse about our future. * Sir Christopher Pissarides, Regius Professor of Economics, London School of Economics *This is a superb and engaging macroeconomics text for those interested in Europe. It contains plenty of theory, empirics and case studies with excellent sections on income distribution and the global financial crisis. To be recommended strongly for those who want to teach macroeconomics for the real world. * Rick Van der Ploeg ,Professor of Economics, Oxford University *
£58.89
Springer Nature Switzerland AG The Great Demographic Reversal: Ageing Societies,
Book SynopsisThis original and panoramic book proposes that the underlying forces of demography and globalisation will shortly reverse three multi-decade global trends – it will raise inflation and interest rates, but lead to a pullback in inequality. “Whatever the future holds”, the authors argue, “it will be nothing like the past”. Deflationary headwinds over the last three decades have been primarily due to an enormous surge in the world’s available labour supply, owing to very favourable demographic trends and the entry of China and Eastern Europe into the world’s trading system. This book demonstrates how these demographic trends are on the point of reversing sharply, coinciding with a retreat from globalisation. The result? Ageing can be expected to raise inflation and interest rates, bringing a slew of problems for an over-indebted world economy, but is also anticipated to increase the share of labour, so that inequality falls. Covering many social and political factors, as well as those that are more purely macroeconomic, the authors address topics including ageing, dementia, inequality, populism, retirement and debt finance, among others. This book will be of interest and understandable to anyone with an interest on where the world’s economy may be going. Trade Review“Charles Goodhart and Manon Pradhan have provided us an impressively articulated, well-reasoned, and thoroughly researched tour de force of the demographic forces that have impacted the evolution of the world economy and their interrelationships over the past 100 years or so … . the research and thoughtful analysis provide the reader with an insightful window into the policy problems facing developing and emerging economies alike as we face the future.” (Robert Eisenbeis, Business Economics, Vol. 56, 2021)“I appreciate the global scope of this book and its emphasis on the complexity and interconnectedness of the global economy. This is the kind of long-term thinking that economists, policymakers, and others may find beneficial.” (insurancenewsnet.com, June 25, 2021)“I think this is a very good forecast. … The book interestingly comments on an implied cycle in the standing of macroeconomics and macroeconomists. … their argument is well worth pondering and entering into our considerations of the biggest economic risks ahead.” (Alex J. Pollock, Law & Liberty, lawliberty.org, May 18, 2021)“The Great Demographic Reversal is packed with informative charts and tables. It presents a powerful, well-argued challenge to the ‘mainstream’ view that low growth, inflation and nominal interest rates are here to stay. Above all, its message that everyday economics needs to take demography seriously is surely correct.” (Diane Coyle, Financial Times, December 2, 2020)“This thought-provoking book is a great read, and there is no need to be an economist to enjoy it.” (Philip Turner, Central Banking, centralbanking.com, November 16, 2020)“It is a pleasure to read a book this well argued. There is a good deal of careful analysis and there are lots of tables and graphs.” (Charles Taylor, Financial World, November 2020-January 2021)Table of Contents1. Introduction.- 2. China: A Historic Mobilization Ends.- 3. The Great Demographic Reversal and its Effect on Future Growth.- 4. Dependency, Dementia and the Coming Crisis of Caring.- 5. The Likely Resurgence of Inflation.- 6. The Determination of (Real) Interest Rates during the Great Reversal.- 7. Inequality and the Rise of Populism.- 8. The Phillips Curve.- 9. “Why Didn’t It Happen in Japan?”: A Revisionist History of Japan’s Evolution.- 10. What Could Offset Global Ageing? India/Africa, Participation and Automation.- 11. The Debt Trap: Can We Avoid It?.- 12. A Switch from Debt to Equity Finance?.- 13. Future Policy Problems: Old Age and Taxes, and the Monetary-Fiscal Clash.- 14. Swimming Against the (Main)Stream.
£22.49
Lola Books Modern Monetary Theory. Bill Warrens excellent
Book Synopsis
£14.25
Princeton University Press Money Capital
Book Synopsis
£27.00
Princeton University Press Bayesian Estimation of DSGE Models
Book SynopsisDynamic stochastic general equilibrium (DSGE) models have become one of the workhorses of modern macroeconomics and are extensively used for academic research as well as forecasting and policy analysis at central banks. This book introduces readers to state-of-the-art computational techniques used in the Bayesian analysis of DSGE models. The book cTrade Review"Well written and well organized, and the topic analyzed is very interesting and current."--Manuel Salvador, MathSciNetTable of ContentsFigures xi Tables xiii Series Editors' Introduction xv Preface xvii I Introduction to DSGE Modeling and Bayesian Inference 1 1 DSGE Modeling 3 1.1 A Small-Scale New Keynesian DSGE Model 4 1.2 Other DSGE Models Considered in This Book 11 2 Turning a DSGE Model into a Bayesian Model 14 2.1 Solving a (Linearized) DSGE Model 16 2.2 The Likelihood Function 19 2.3 Priors 22 3 A Crash Course in Bayesian Inference 29 3.1 The Posterior of a Linear Gaussian Model 31 3.2 Bayesian Inference and Decision Making 35 3.3 A NonGaussian Posterior 43 3.4 Importance Sampling 46 3.5 Metropolis-Hastings Algorithms 52 II Estimation of Linearized DSGE Models 63 4 Metropolis-Hastings Algorithms for DSGE Models 65 4.1 A Benchmark Algorithm 67 4.2 The RWMH-V Algorithm at Work 69 4.3 Challenges Due to Irregular Posteriors 77 4.4 Alternative MH Samplers 81 4.5 Comparing the Accuracy of MH Algorithms 87 4.6 Evaluation of the Marginal Data Density 93 5 Sequential Monte Carlo Methods 100 5.1 A Generic SMC Algorithm 101 5.2 Further Details of the SMC Algorithm 109 5.3 SMC for the Small Scale DSGE Model 125 6 Three Applications 130 6.1 A Model with Correlated Shocks 131 6.2 The Smets-Wouters Model with a Diffuse Prior 141 6.3 The Leeper-Plante-Traum Fiscal Policy Model 150 III Estimation of Nonlinear DSGE Models 161 7 From Linear to Nonlinear DSGE Models 163 7.1 Nonlinear DSGE Model Solutions 164 7.2 Adding Nonlinear Features to DSGE Models 167 8 Particle Filters 171 8.1 The Bootstrap Particle Filter 173 8.2 A Generic Particle Filter 182 8.3 Adapting the Generic Filter 185 8.4 Additional Implementation Issues 191 8.5 Adapting st-1 Draws 198 8.6 Application to the Small-Scale DSGE Model 204 8.7 Application to the SW Model 212 8.8 Computational Considerations 216 9 Combining Particle Filters with MH Samplers 218 9.1 The PFMH Algorithm 218 9.2 Application to the Small-Scale DSGE Model 222 9.3 Application to the SW Model 224 9.4 Computational Considerations 229 10 Combining Particle Filters with SMC Samplers 231 10.1 An SM C2 Algorithm 231 10.2 Application to the Small-Scale DSGE Model 237 10.3 Computational Considerations 239 Appendix 241 A Model Descriptions 241 A.1 Smets-Wouters Model 241 A.2 Leeper-Plante-Traum-Fiscal Policy Model 247 B Data Sources 249 B.1 Small-Scale-New Keynesian DSGE Model 249 B.2 Smets-Wouters Model 249 B.3 Leeper-Plante-Traum Fiscal Policy Model 251 Bibliography 257 Index 271
£40.50
Faber & Faber The Rotten Heart of Europe
Book Synopsis''The Brussels Commission has just suspended its senior economist, Bernard Connolly, for writing a book savaging the prospects for a common currency. There are many who now believe he should be lauded as a prophet.'' Observer, Editorial, 1 October 1995''Mr. Connolly''s longstanding proposition that the foisting of a common currency upon so many disparate nations would end in ruin is getting a much wider hearing...'' New York Times, 17 November 2011When first published in 1995, The Rotten Heart of Europe caused outrage and delight - here was a Brussels insider, a senior EU economist, daring to talk openly about the likely pitfalls of European monetary union. Bernard Connolly lost his job at the Commission, but his book was greeted as a profound and persuasive expose of the would-be ''monetary masters of the world.'' His brave act of defiance became headline news - and his book a major international bestseller
£15.19
Princeton University Press GDP
Book SynopsisWhy did the size of the U.S. economy increase by 3 percent on one day in mid-2013 - or Ghana's balloon by 60 percent overnight in 2010? Why did the U.K. financial industry show its fastest expansion ever at the end of 2008 - just as the world's financial system went into meltdown? This title deals with these questions.Trade ReviewWinner of the 2015 Bronze Medal in Economics, Axiom Business Book Awards One of The Wall Street Journal's Best Books of 2014 One of Choice's Outstanding Academic Titles for 2014 One of FA-mag.com's Books of the Year 2014 One of "The Books Quartz Read" in 2014 One of Minnpost.com's 'Three (plus) books for the econ buff on your list' 2014 Longlisted for the Financial Times and McKinsey Business Book of the Year 2014 "GDP is, as Diane Coyle points out in her entertaining and informative GDP: A Brief but Affectionate History, a bodge, an ongoing argument."--John Lanchester, London Review of Books "[A] little charmer of a book... GDP: A Brief but Affectionate History is just what the title promises... Cowperthwaite himself would nod in agreement over Ms. Coyle's informed discussion of what the GDP misses and how it misfires... Ms. Coyle--a graceful and witty writer, by the way--recounts familiar problems and adds some new ones... [E]xcellent."--James Grant, Wall Street Journal "Anyone who wants to know how GDP and the SNA have come to play such important roles in economic policy-making will gain from reading Coyle's book. As will anyone who wants to gain more understanding of the concept's strengths and weaknesses."--Nicholas Oulton, Science "Diane Coyle's new book, GDP: A Brief But Affectionate History, is a timely contribution to discussions of modern economic performance."--Arnold Kling, American "[E]xcellent."--Adam Creighton, The Australian "Diane Coyle's book is as good a simple guide as we are likely to see."--Samuel Brittan, Financial Times "Coyle does good work explicating a topic that few understand, even if it affects each of us daily. A pleasure for facts-and-numbers geeks, though accessibly written and full of meaningful real-world examples."--Kirkus Reviews "[S]mart and lucid... [S]hort but masterful."--Todd G. Buchholz, Finance & Development "[G]reat (and well-timed) new book."--Uri Friedman, The Atlantic "In a charming and accessible new book, Diane Coyle untangles the history, assumptions, challenges and shortcomings of this popular rhetorical device, which has become so central to policy debates around the world... Coyle's book is a good primer for the average citizen as well as the seasoned economist."--Adam Gurri, Umlaut "[I]t is interesting and important, particularly when it comes to the emphasis now given to GDP, and the inadequacies of this now time-honoured measurement of how our economies are doing... With clarity and precision, she explains its strengths and weaknesses."--Peter Day, BBC News Business "Diane Coyle has bravely attempted in a recent book to make the subject once more accessible, and even interesting."--John Kay, Financial Times "[T]his is as engaging a book about GDP as you could ever hope to read. It falls into that genre of books that are 'biographies of things'--be they histories of longitude, the number zero or the potato--and is both enlightening and entertaining."--Andrew Sawers, FS Focus "GDP: A Brief But Affectionate History is a fascinating 140-page book that I cannot recommend highly enough. This is simply the best book on GDP that I've ever seen."--John Mauldin "As a potted history of approaches to quantifying national output from the 18th century onward, GDP: A Brief but Affectionate History deserves high marks. It is particularly edifying to learn about the military motivation behind the initial attempts."--Martin S. Fridson, Financial Analysts Journal "The strongest part of the book charts the development of national accounting from the 17th century through to the creation of GDP itself and its literal and metaphorical rises and falls in the 20th and 21st centuries... This is lively and surprisingly readable stuff."--Eilis Lawlor, LSE Review of Books "Coyle has written an engaging, introductory to mid-level book on the GDP that makes sense of a statistic that hardly anyone actually understands... It does not require any training in economics, but it covers many topics that even professional economists would find beneficial, including an argument that GDP is an increasingly inappropriate measure for the 21st century."--Choice "[A] little charmer of a book."--Wall Street Journal (A Best Non-Fiction Book of 2014) "GDP is a thought-provoking account of how the gross domestic product statistic came to be so important... The book is a useful and timely contribution."--Louise Rawlings, Economic RecordTable of ContentsNote on the Paperback Edition vii Introduction 1 ONE From the Eighteenth Century to the 1930s: War and Depression 7 TWO 1945 to 1975: The Golden Age 43 THREE The Legacy of the 1970s: A Crisis of Capitalism 61 FOUR 1995 to 2005: The New Paradigm 79 FIVE Our Times: The Great Crash 95 SIX The Future: Twenty-first-Century GDP 123 Acknowledgments 147 Notes 149 Index 161
£12.34
MIT Press Recursive Macroeconomic Theory The MIT Press
Book SynopsisThe substantially revised fourth edition of a widely used text, offering both an introduction to recursive methods and advanced material, mixing tools and sample applications.Recursive methods provide powerful ways to pose and solve problems in dynamic macroeconomics. Recursive Macroeconomic Theory offers both an introduction to recursive methods and more advanced material. Only practice in solving diverse problems fully conveys the advantages of the recursive approach, so the book provides many applications. This fourth edition features two new chapters and substantial revisions to other chapters that demonstrate the power of recursive methods. One new chapter applies the recursive approach to Ramsey taxation and sharply characterizes the time inconsistency of optimal policies. These insights are used in other chapters to simplify recursive formulations of Ramsey plans and credible government policies. The second new chapter explores the mechanics of matc
£96.30
Princeton University Press The Great Escape
Book Synopsis
£15.29
Princeton University Press The Spirit of Green
Book SynopsisTrade Review"William D. Nordhaus, Winner of the Nobel Prize in Economics""One of Foreign Affairs' Best Books""A Project Syndicate Commentators' Best Reads of the Year""Winner of the Silver Medal in Philanthropy / Nonprofit / Sustainability, Axiom Business Book Awards""A Choice Outstanding Academic Title of the Year""Nordhaus’s green compendium is rational and balanced. . . . The author of The Spirit of Green clearly cares intensely about the climate, believes economics offers answers, and sees some welcome positive trends."---Richard Beales, Reuters Breakingviews"A compelling read, and a highly recommended up-to-date guide to the economics of the environment and climate change."---Bejoy K. Thomas, Current Science"In this superb analysis, Nordhaus (Yale Univ.), Nobel laureate in economics, contends that addressing environmental problems should not inhibit economic growth. . . . Highly recommended." * Choice *
£22.50
Oxford University Press Introducing Advanced Macroeconomics Growth and
Book SynopsisIntroducing Advanced Macroeconomics covers a rich variety of topics in growth and real business cycles and uses. Beginning with an examination of macroeconomics for the long run before considering the economy in the short run, the third edition continues to help intermediate-level students develop their understanding and technical skills so that they can become comfortable with more advanced macroeconomics material and tools.Recognizing mathematics to be a common area of vulnerability, the authors carefully explain all derivations. They also concentrate on the cornerstone models to ensure students can form a deep comprehension of how to apply and examine them.Discussion is motivated by empirical data throughout, demonstrating how real life and theory are connected, and encouraging readers to dissect model predictions and the policy issues they relate to. Guided exercises at the end of every chapter help students to build their confidence as they tackle more challenging material.DigitalTrade ReviewEngaging and precise: the best book in the market to teach serious macroeconomics to undergraduates. * Ricardo Nunes, Professor of Economics, University of Surrey *Thorough and rigorous, providing a solid grounding in modern macroeconomics. * Jonathan Perraton, Senior Lecturer in Economics, University of Sheffield *A unique combination of rigor and relevance, including informative and challenging exercises. * Klas Fregert, Associate Professor, Lund University *Table of Contents1: Macroeconomics for the long run and for the short run BOOK ONE: THE LONG RUN: ECONOMIC GROWTH, LONG RUN UNEMPLOYMENT, AND STRUCTURAL ECONOMIC POLICY 2: Some facts about prosperity and growth Part One: Work Horse Models for the Long Run 3: Capital accumulation and growth: the basic Solow model 4: Wealth accumulation and capital mobility: The Solow Model for a small open economy Part Two: Exogenous Technological Progress 5: Technology and growth: the Solow model with technological progress and growth accounting 6: Education and growth: the Solow model with human capital 7: Limits to growth? Resource scarcity and climate change Part Three: Endogenous Growth 8: Productive externalities and endogenous growth 9: R&D-based endogenous growth Part Four: Structural Unemployment 10: Some facts and introductory theory about unemployment 11: Efficiency wages and unemployment 12: Trade unions and unemployment BOOK TWO: THE SHORT RUN: ECONOMIC FLUCTUATIONS, SHORT RUN UNEMPLOYMENT, AND STABILIZATION POLICY 13: Business cycles: Facts 14: Business cycles: Costs Part Five: The Building Blocks for Short-Run Macroeconomics 15: Investment and asset prices 16: Consumption, income, interest rates, and wealth 17: Monetary policy and aggregate demand 18: Inflation, unemployment, and aggregate supply Part Six: Short-Run Macroeconomics for the Closed Economy 19: Explaining business cycles: aggregate supply and aggregate demand in action 20: Monetary and fiscal stabilization policy 21: Business cycles and stabilization policy with rational expectations 22: Limits to stabilization policy: credibility and uncertainty Part Seven: Short-Run Macroeconomics for the Open Economy 23: Aggregate demand and aggregate supply in the open economy 24: The open economy with fixed exchange rates 25: The open economy with flexible exchange rates and the choice of exchange rate regime 26: The economics of monetary union and the European sovereign debt crisis
£63.64
Oxford University Press Macroeconomics Institutions Instability and the
Book SynopsisCarlin and Soskice integrate the financial system with a model of the macro-economy. In doing this, they take account of the gaps in the mainstream model exposed by the financial crisis and the Eurozone crisis. This equips the reader with a realistic modelling framework to analyse the economy both in crisis times and in periods of stability.Trade ReviewThis new book is almost enough to make me wish I was still teaching Macroeconomics. It gives finance the position in macro that recent events suggest it deserves * Simon Wren-Lewis professor at Oxford University and a Fellow of Merton College. *Carlin and Soskice have produced a gem of a book. The teaching of macroeconomics after the crisis has changed surprisingly little, limiting itself to incorporating 'frictions' into otherwise standard models that failed during the crisis. Carlin and Soskice embark on a much more ambitious venture. They show how the financial cycle and macroeconomics are inextricably linked, with the risk-taking channel as the linchpin. Their exposition is refreshingly original and yet lucid and accessible. This book will appeal to serious students of economics and to all inquiring minds who have wondered about the role of the financial cycle in macroeconomics. * Hyun Song Shin, Economic Adviser and Head of Research, Bank for International Settlements and Hughes-Rogers Professor of Economics, Princeton University *This is, I believe, the first macro-economic textbook effectively to incorporate the lessons of the Great Financial Crisis and to describe how financial frictions can impact the macro-economy. The authors weave together the old mainstream, three equation, model with the newer account of potential financial disturbances in a lucid and efficient manner. As such, it has a major advantage over almost all other extant textbooks, and will be a boon not only for undergraduates, but also for graduates and those wishing to understand the current working of our macro-economic system, beset as it has been with financial strains. * Professor Charles Goodhart, Director of the Financial Regulation Research Programme, The London School of Economics and Political Science *This illuminating book introduces the reader to macroeconomics in a revolutionary fashion. Namely, by means of very elegant and accessible models that are always based on sound microfoundations and developed against a narrative of the performance and policy regimes of the advanced economies over the post war period. Unlike most other macro textbooks, this book builds on the most recent research and debates to teach macroeconomics the way it should now be taught: by emphasizing the interplay between macro and finance; by linking growth to innovation, market structure and firm dynamics; and more generally by taking institutions seriously into account when looking at growth, business cycles, and unemployment and the interplay between them. This book is an absolute must read for students and policy makers, even those with little initial background, who need to be fully acquainted with modern macroeconomics. * Philippe Aghion, Robert C. Waggoner Professor of Economics, Harvard *This is an exciting new textbook. It offers a clear and cogent framework for understanding not only the traditional macroeconomic issues of business cycles, inflation and growth, but also the financial crisis and ensuing Great Recession that have recently shaken the world economy. The paradigm it offers is highly accessible to undergraduates. Yet at the same time it is consistent with what goes on at the frontiers of the field. Overall, the book confirms my belief that macroeconomics is alive and well! * Mark Gertler, Henry and Lucy Moses Professor of Economics, New York University *To be relevant, economics need to help society understand those phenomena which do it greatest harm - unemployment, inflation and deflation, financial instability, fiscal and banking crisis. Pre-crisis, mainstream economic models failed that societal test and therefore failed society. Wendy Carlin and David Soskice's important new book is the first step towards redemption, providing students and scholars with a rigorous but accessible framework for understanding what troubles society most. * Andrew G Haldane, Chief Economist, Bank of England *The Carlin and Soskice book does a wonderful job of covering the economics behind macroeconomics and the financial system, alongside presenting the latest research on this and the drivers of the great recession. It also has an impressive array of data and examples woven in with theory explained in a beautifully intuitive way. For any student interested in a refreshingly modern take on the financial crisis and the economics that underlie this, this book is invaluable. * Nicholas Bloom, Professor of Economics, Stanford University *One of the first macro textbooks to integrate the lessons of the crisis. An elegant bridge between introductory undergraduate and graduate macro texts * Olivier Blanchard, Chief Economist, IMF, and Professor of Economics, MIT *In the light of the events of the past decade, it is important that a new macroeconomics text attempts to satisfy the demands of those learning and using macroeconomics to be able to access relatively simple models which reflect the ways in which the financial sector interacts with the real economy. This is by no means an easy task. The new Carlin and Soskice book represents a significant step forward in this regard. Consequently undergraduates, post-graduates and their teachers should be grateful that they can now access teaching materials which have something useful to say about the financial crisis. * Professor Stephen Nickell, CBE, FBA. Honorary Fellow of Nuffield College, Oxford *Table of Contents1. The demand side ; 2. The supply side ; 3. The 3-equation model and macroeconomic policy ; 4. Expectations ; 5. Money, banking and the macro-economy ; 6. The financial sector and crises ; 7. The global financial crisis: applying the models ; 8. Growth, fluctuations and innovation ; 9. The 3-equation model in the open economy ; 10. The open economy: the demand and supply sides ; 11. Extending the open economy model: oil shocks and imbalances ; 12. The Eurozone ; 13. Monetary policy ; 14. Fiscal policy ; 15. Supply-side policy, institutions and unemployment ; 16. Real Business Cycle and New Keynesian models
£70.29
The University of Chicago Press Fully Grown
Book SynopsisTrade Review“A wide-ranging and original study of the slowdown in economic growth in America in recent decades.” * Economist, Best Books of the Year for 2020 *"An impressive survey of the economics literature on US productivity. For those interested in the subject, it is a must-read." * Financial Times *“Fully Grown makes a coherent and compelling argument that American productivity growth has only mildly faltered.” * Wall Street Journal *“For Dietrich Vollrath of the University of Houston, low growth is reason for cheer. In a new book he argues that America’s growth has slowed because so much in the economy has gone so well. . . . His triumph is in showing the degree to which these [GDP numbers] make economic growth an unreliable measure of success. Attempting to capture progress in a single number is a fool’s errand.” * Economist *"Taken together, slower growth in the labor force and the shift to services can explain almost all the recent slowdown, according to Vollrath. He’s unimpressed by many other explanations that have been offered, such as sluggish rates of capital investment, rising trade pressures, soaring inequality, shrinking technological possibilities, or an increase in monopoly power. In his account, it all flows from the choices we’ve made: 'Slow growth, it turns out, is the optimal response to massive economic success.'” * New Yorker *"Given the likelihood of recession, some desperate West Wing scribe might want to sneak a few thoughts from Vollrath's Fully Grown: Why a Stagnant Economy Is a Sign of Success into the State of the Union speech. Challenging the automatic equation between economic health and a growing gross domestic product, the author argues that capitalism 'has already supplied so much of the necessary stuff of modern life--brought us so much comfort, security and luxury--that we have turned to new forms of production and consumption that increase our well-being but do not contribute to growth in GDP.'" * Inside HIgher Ed *"For the past decade, Robert Gordon has written about the rise and fall of American growth, praising the first in our past that was and lamenting the second in our present that is. Now comes Vollrath with a lively, accurate, and essential corrective to Gordon's pessimism: growth is slow today, he demonstrates, not because our economy is failing but because our economy has succeeded." -- Brad DeLong, University of California, Berkeley"Vollrath offers a provocative new explanation of the slowdown in economic growth experienced by the US economy during the past two decades: we are a victim of our own success. Rising leisure, declining fertility, and the shift out of manufacturing into services explain the bulk of the slowdown in aggregate income growth. Each is a feature of a mature, developed economy, and in that sense, the slowdown may be a symbol of success rather than a sign of failure. Brilliantly supported by the latest research and engagingly presented, Fully Grown provides a startling, novel assessment of economic growth in the 21st century." * Chad Jones, Stanford University *“Anybody who has followed Vollrath’s blog will have been eagerly waiting for this book. Fully Grown is essential reading for anybody interested in the future of the economy. It investigates why the United States and other advanced economies are growing more slowly than in the past. Contrary to conventional wisdom, it argues this slowdown is due to success, not failure. All the leading economies have aging populations, thanks to past gains in health, and are largely service-based, as material goods account for a shrinking share of spending. These two characteristics alone mean the economy will not expand as rapidly in the 21st century. There are plenty of other problems to tackle, from unequal opportunities to excessive market power; but, Vollrath argues convincingly, the growth rate is the wrong way to assess how well the economy is doing.” -- Diane Coyle, Bennett Professor of Public Policy, University of Cambridge“This book completes, for me, a series of books that have come out in the last couple of years that help to explain the current state of the US economy and why we can be optimistic about a lot of what is going on.” * Seeking Alpha *"Typically, lower economic growth is deplored because it squeezes private living standards and government programs. But in a fascinating new book, economist Dietrich Vollrath of the University of Houston challenges the conventional wisdom." -- Robert Samuelson * Washington Post *“Vollrath sets up a clear framework and expounds it lucidly.” * Inside Story *"But what if slow growth instead reflects great economic success? That’s the provocative thesis of a new book, cleverly titled “Fully Grown,” by economist Dietrich Vollrath...Vollrath not only offers the proverbial two cheers for slower growth rates, but also explains why many oft-proposed policy solutions are not likely to rekindle rapid growth." -- Charles Lane * Washington Post *"It is refreshing today to read that the U.S. economy is not weak because of a trade war with China or a failure of innovation. According to Vollrath, it is growing more slowly because families have made different decisions about how to live their lives, and those decisions were only possible because of the economy’s previous success. It is conceivable,perhaps even likely, that the U.S. will never again see such a period of supercharged growth as it did in the second half of the 20th century, when it benefited from the tailwinds of life-changing innovation and abundant labor. The lesson of Fully Grown is that perhaps it doesn’t need to." -- Mike Jakeman * Strategy + Business *"Why has the growth slowed in the high-income countries, notably the US? Is it a sign of failure or of success? Vollrath argues that it is the latter. Thus, the main reasons for the slowdown in the early 21st century are demographic - smaller family sizes and ageing - and the shift from goods to services. The failure to accelerate the overall rate of growth of productivity in the services is striking. Given that reality, Vollrath is right." * Financial Times *"A combination of admirably lucid, engaging exposition and well-informed synthesis, Vollrath’s book is a must read for anyone interested in long-term trends in the US economy. . . . Highly recommended." * Choice *"The post‐World War II years brought unprecedented economic growth to much of the world, resulting in massive declines in poverty and huge wealth. How long can this go on? In the United States and other highly developed countries, economic growth has slowed significantly after 2000. This book examines the fundamental causes of this slowdown...[Its] findings are important because they imply a new normal of slower growth in the economically advanced countries." * Population and Development Review *"If you want to learn a great deal about frontier research in economic growth written in an accessible and engaging way, you will have a hard time finding a better read." * Economic Record *Table of ContentsPreface 1 Victims of Our Own Success 2 What Is the Growth Slowdown? 3 The Inputs to Economic Growth 4 What Accounts for the Growth Slowdown? 5 The Effect of an Aging Population 6 The Difference between Productivity and Technology 7 The Reallocation from Goods to Services 8 Baumol’s Cost Disease 9 Market Power and Productivity 10 Market Power and the Decline in Investment 11 The Necessity of Market Power 12 Reallocations across Firms and Jobs 13 The Drop in Geographic Mobility 14 Did the Government Cause the Slowdown? 15 Did Inequality Cause the Slowdown? 16 Did China Cause the Slowdown? 17 The Future of Growth Appendix: Data and Methods References Index
£15.20
Penguin Books Ltd Sold Out
Book SynopsisEmpty shelves, petrol station queues and energy shortages: crises more familiar to those who lived through the 1960s and 1970s have now become a reality for many as global shipping times are squeezed, containers lie unopened at docks and supply shortages push up inflation, increasing the cost of consumer goods from milk to cars to building materials.In Sold Out, James Rickards explains why the shelves are empty, who broke the supply chain and why shortages will persist. He breaks down the history and structure of business around the world to offer readers a behind-the-scenes look at what''s really going on, and what they can do to mitigate the worst of what''s to come.Drawing on his financial expertise, he explains that consumers and investors need to be nimble to come through this unprecedented turn of events in good shape. Luckily, Rickards is on hand to provide the tools readers need to look ahead, monitor key trends and insulate against risks.
£13.49
Penguin Books Ltd The Big Fail
Book SynopsisFrom the author of the modern business classic The Smartest Guys in the Room comes a damning indictment of late-stage capitalism-and the leaders that were brutally unprepared for a global pandemic.In 2020, the coronavirus pandemic made it painfully clear that governments across the world could not adequately protect their citizens. Millions of people suffered and died in just two years, while administrations around the globe blundered; prize-winning economists overlooked devastating trade-offs from the collapse of trade; and elites escaped to isolated retreats, unaffected by - and worse, even profiting from - the worst healthcare crisis to hit humanity in decades.In this page-turning economic, political and financial history, veteran journalists Bethany McClean and Joseph Nocera analyse the American response to the pandemic as a case study, to offer fresh and provocative answers. With laser-sharp reporting and deep sourcing, they investigate what really
£999.99
MIT Press Ltd Open Economy Macroeconomics in Developing
Book Synopsis
£81.70
Taylor & Francis Ltd The Right Place
Book SynopsisThe Right Place explains why firms succeed in one country and fail in another, irrespective of their inner drivers, and suggests potential initiatives that governments can take to help the private sector create jobs and, consequently, make their countries more prosperous. The competitiveness race is not unlike a cycling race. If you want to ride fast, you need three things: a good bike, to be in good shape, and a smooth and fast road. In a collaborative model, you might say the business is the bicycle, the business leader is the cyclist, and the road is the government and the external environment. The responsibility of a government is to design and build the best possible road. It turns out that when the road is good, good cyclists suddenly appear and want to race on it. In this book, competition and macroeconomics expert, Arturo Bris, provides the analysis of country competitive performance based on 30 years advising countries on this topic. The typical mistakes that countries make are revealed and the pillars necessary in building a competitive economy: economic performance as a necessary condition for prosperity; government efficiency, so the public sector can create the conditions for a productive economy; business efficiency, so companies can create jobs; and infrastructure, both tangible and intangible, so businesses and individuals can operate efficiently. With contemporary case studies throughout, the book provides an illuminating read for politicians, business leaders and students of macroeconomics.Trade Review"Enormously ambitious, wide-ranging and filled with insights. A marvellous and impressive book that makes you re-think how and why businesses thrive (and fail)."Peter Frankopan, Professor of Global History at Oxford University, author of The Silk Roads"There is no silver bullet for competitiveness. Many books promise quick fixes, but the wisdom in this new book by Arturo Bris is taking an ecosystem approach. This is the holistic roadmap emerging markets need to catch the next waves of productivity and globalization."Dr. Parag Khanna, managing partner of FutureMap and author of Connectography"This book by Arturo Bris, brings together the insights of the IMD World Competitiveness Centre over thirty years, as well as his personal travel and research in the last six years in Asia, the Middle East, Europe and Latin America, to understand why corporations achieve success and perform the way they do. Bris covers a broad terrain, highlighting not just corporate strategies but largersocietal inputs such as education and government strategies which are crucial to competitiveness. A useful comparative blueprint for corporations and countries who wish to achieve the same success as the best in the world."Chan Heng Chee, Ambassador-at Large and Chair of the Lee Kuan Yew Centre for Innovative Cities, Singapore University of Technology and Design."Arturo Bris is the superstar of country competitiveness. Over the years we have enjoyed his annual reports and rankings on the competetiveness of nations around the globe. In this seminal book he shows us why it matters for business. A warm recommendation to anyone interested in decion-making beyond the state and survival strategies of companies."Alexander Stubb, Professor and Director at the European University Institute, Former Prime Minister of Finland"Enormously ambitious, wide-ranging and filled with insights. A marvellous and impressive book that makes you re-think how and why businesses thrive (and fail)."Peter Frankopan, Professor of Global History at Oxford University, author of The Silk Roads"There is no silver bullet for competitiveness. Many books promise quick fixes, but the wisdom in this new book by Arturo Bris is taking an ecosystem approach. This is the holistic roadmap emerging markets need to catch the next waves of productivity and globalization."Dr. Parag Khanna, managing partner of FutureMap and author of Connectography"This book by Arturo Bris, brings together the insights of the IMD World Competitiveness Centre over thirty years, as well as his personal travel and research in the last six years in Asia, the Middle East, Europe and Latin America, to understand why corporations achieve success and perform the way they do. Bris covers a broad terrain, highlighting not just corporate strategies but largersocietal inputs such as education and government strategies which are crucial to competitiveness. A useful comparative blueprint for corporations and countries who wish to achieve the same success as the best in the world."Chan Heng Chee, Ambassador-at Large and Chair of the Lee Kuan Yew Centre for Innovative Cities, Singapore University of Technology and Design."Arturo Bris is the superstar of country competitiveness. Over the years we have enjoyed his annual reports and rankings on the competitiveness of nations around the globe. In this seminal book he shows us why it matters for business. A warm recommendation to anyone interested in decision-making beyond the state and survival strategies of companies."Alexander Stubb, Professor and Director at the European University Institute, Former Prime Minister of FinlandTable of ContentsINTRODUCTION 1. THE TAYBEH BREWING COMPANY 2. FULL MOON BREWWORKS 3. THE IMPORTANCE OF THE BUSINESS ENVIRONMENT 4. THE EIGHT CHARACTERISTICS OF SUCCESS 5. THE VALUE OF COLLABORATION 6. THE IMPORTANCE OF GLOBAL FACTORS7. DEFINING A NEW MEASURE OF SUCCESS 8. WHAT IT TAKES TO BE COMPETITIVE9. BUSINESS CONSULTANTS 10. EDUCATION 11. INFRASTRUCTURE 12. THE PRIVATE SECTOR CREATES JOBS 13. THE RULE OF LAW 14. GOVERNMENT-INDUSTRY PARTNERSHIPS 15. NATIONAL CHAMPIONS, BUT ALSO SMALL AND MEDIUM ENTERPRISES 16. BRANDING A NATION 17. TECHNOLOGY, INNOVATION, EDUCATION, GENDER POLICIES, AND SUSTAINABILITY 18. THIS BOOK IS FOR BOTH BUSINESS AND POLITICAL STAKEHOLDERS PART 1. THE DRIVERS OF BUSINESS COMPETITIVENESS 19. INTRODUCTION 20. FOOTBALL: COACHES AND THE PERFORMANCE OF TEAMS 21. THE DRIVERS OF PERFORMANCE 22. THE IMPACT OF LEADERS ON PERFORMANCE 23. WHAT DRIVES PERFORMANCE BEYOND LEADERS? 24. GLOBAL EFFECTS 25. NATIONAL COMPETITIVENESS AND BUSINESS SUCCESS 26. HOW THE NATIONAL CONTEXT MATTERS: TAIWAN AND GIANT BICYCLES 27. THE IMPORTANCE OF THE INTERNATIONAL CONTEXT: THE CASE OF RUSSIA PART 2. UNDERSTANDING COMPETITIVENESS 28. INTRODUCTION29. WHAT IS COMPETITIVENESS 30. LOOKING BACK TO HISTORY 31. SETTING THE COMPETITIVENESS PATH 32. HAPPINESS: AND THE SEARCH OF THE MODERN-DAY SHANGRI-LA 33. CONCLUSION: WE MANAGE WHAT WE CAN MEASURE PART 3. WHAT IT TAKES TO HAVE A NATIONAL STRATEGY 34. INTRODUCTION 35. A GOOD STRATEGY36. THE IMPORTANCE OF NATIONAL CONSENSUS 37. POLITICAL LEADERSHIP 38. A LONG-TERM VIEW 39. THE IMPORTANCE OF EXECUTION: DELIVERY UNITS 40. AVOID CONSULTANTS!!! PART 4. THE PATH TO COMPETITIVENESS 41. INTRODUCTION 42. EDUCATION 43. OPENNESS/TALENT ATTRACTION 44. INFRASTRUCTURE 45. RULE OF LAW 46. CORRUPTION 47. FINANCIAL SYSTEM AND STOCK MARKETS 48. IT IS THE PRIVATE SECTOR THAT CREATES JOBS 49. PUBLIC-PRIVATE PARTNERSHIPS 50. NATIONAL CHAMPIONS, BUT ALSO SMES 51. BRANDING THE COUNTRY 52. CONCLUSION PART 5. BEING COMPETITIVE IN THE 21ST CENTURY 53. INTRODUCTION 54. THE ROLE OF UNIVERSITIES IN INNOVATION ECOSYSTEMS 55. COMPETITIVENESS THROUGH TECHNOLOGY 56. GENDER BALANCE AND GROWTH 57. SUSTAINABILITY: PUTTING PEOPLE FIRST 58. PUBLIC POLICY TO RESOLVE MARKET FAILURES 59. EDUCATION FOR THE TWENTY-FIRST CENTURY 60. COMPETITIVENESS AND INCOME INEQUALITY 61. HOW CAN DEMOCRACIES EXCEL CONCLUSION
£32.99
Taylor & Francis The Routledge Handbook of the Economics of Ageing
Book SynopsisAgeing populations pose some of the foremost global challenges of this century. Drawing on an international pool of scholars, this cutting-edge Handbook surveys the micro, macro and institutional aspects of the economics of ageing.Structured in seven parts, the volume addresses a broad range of themes, including health economics, labour economics, pensions and social security, generational accounting, wealth inequality and regional perspectives. Each chapter combines a succinct overview of the state of current research with a sketch of a promising future research agenda.This Handbook will be an essential resource for advanced students, researchers and policymakers looking at the economics of ageing across the disciplines of economics, demography, public policy, public health and beyond.Chapter 37 of this book is freely available as a downloadable Open Access PDF at http://www.taylorfrancis.com under a Creative Commons Attribution (CC-BY) 4.0 license.
£54.14
Liberty Fund Inc Business Cycles
Book Synopsis
£10.95
Taylor & Francis Inc Macroeconomics
Book SynopsisThe climate of opinion among economists recently seems to have shifted in favour of the view that the Keynesian style of economic management does not work in industrial capitalism. This has provided an opportunity for various related doctrines like ''monetarism'' and ''supply-side economies'' to surface as contending views. They argue that the Keynesian view of economic management is theoretically defective and a better alternative is to rely less on economic intervention by the State and more on the market mechanism. This textbook brings into focus the radical content of Keynesianism by concentrating on the common macroeconomic tradition of Marx, Kalecki and Keynes. It shows how Marx''s method of analysis in terms of ''historical categories'' naturally leads to an analysis of capitalist commodity production under the principle of effective demand.Table of ContentsPreface, 1 The Nature of Capitalistic Production, 2 The Principle of Effective Demand, 3 The Relation Between Prices and Money Wages,4 The Social Device of Money, 5 Trade and Financial Relations Among Nations, 6 The Instability of Commodity Production, 7 Capitalistic Accumulation: a Long Term View, 8 Economic Policy and the Theory of the State, References, Author Index, Subject Index
£42.99
Cambridge University Press Digital Assets
Book Synopsis
£28.49
Cambridge University Press A Practical Guide to Macroeconomics
Book SynopsisThe book gives an insider's perspective on how policy economists do their jobs. It is intended for academics and students who want to make their economic research more relevant for policy, or for anyone who wants an overview of some of the important unanswered questions in macroeconomics.
£28.49
Cambridge University Press Evolutionary Price Theory
Book Synopsis
£17.00
Cambridge University Press US Business Cycles 19542020
a huge range and FREE tracked UK delivery on ALL orders.
£23.75
Taylor & Francis Ltd Economics and Business Environment
Book SynopsisEconomics and Business Environment is targeted at students preparing for a career in a managerial position in business or public service.With its accessible style and convenient structure, this textbook offers an insight into:1 current economic developments that are important to (European) businesses and governments;2 the influence of the business environmenton company profit and turnover. Students are offered an insight into the economic risks faced by all companies.This fifth edition of Economics and Business Environment has been fully updated; including the measurements taken to reinforce supervision of the banking industry.Table of Contents1 Economics and the business environment 1.1 Economic activity and economics 1.2 Business environment 1.3 Absolute and relative data PART 1The company in the business sector 2 Markets 2.1 Market, product and the business sector 2.2 Demand 2.3 Supply 2.4 Market price 3 Competition 3.1 Intensity of competition and competitiveness 3.2 The structure of the market 3.3 Business conduct and business results (performance) 3.4 The product’s life cycle and industry structure 3.5 Porter’s diamond PART 2The macroeconomic environment of companies 4 Producing 4.1 Prosperity 4.2 Added value 4.3 Production factors 4.4 The structure of the European economy 5 Expenditure 5.1 Consumption 5.2 Investments 5.3 Government expenditure 5.4 Foreign expenditure 5.5 The circular flow of income 6 The business cycle and policy 6.1 The business cycle 6.2 Inflation 6.3 The government 6.4 Macroeconomic basis statistics 6.5 Industry and the business cycle PART 3The monetary environment of companies 7 Money 7.1 The functions of money 7.2 Money supply 7.3 Demand for money 7.4 Monetary policy 8 Money and capital markets 8.1 Functions and classification of the money and capital markets 8.2 The money market 8.3 The capital market 8.4 The interest rate structure 8.5 Interest rate risk PART 4The international environment of companies 9 International economic relations 9.1 International economic trends 9.2 The theory of comparative costs 9.3 Free trade and protectionism 9.4 The balance of payments 9.5 International cooperation 10 The foreign exchange market 10.1 Characteristics of the foreign exchange market 10.2 Spot exchange rate 10.3 Exchange rate systems 10.4 Exchange rate policy in the European Union 10.5 Forward exchange rate 10.6 Exchange rate risk 11 Country selection and country risk 11.1 Country selection 11.2 Country risk AppendixQuestionnaire for the analysis of a foreign market Answers to Test questionsCredits Index
£128.25
Taylor & Francis COVID19 and European Banking Performance
Book Synopsis
£37.99
Taylor & Francis Ltd Global Capitalism and National Decline
Book SynopsisFirst published in 1990, Global Capitalism and National Decline is a major contribution to the study of British political and economic decline. The author concentrates on the global nature of capitalism as the context for the development of national capitalism, and on the relationship between internal and external factors. A long-term view of British politics enables him to demonstrate that competing popular explanations of Britain's crisis and the rise of Thatcherism in response to it, are in fact interconnected. The long decline of Britain originating in the 19th century, the inherent weakness of the post-1945 settlement, and the critical events of 1970s, acquire their fullest meaning when seen as different layers' of one and the same historical process. Henk Overbeek takes the story of Britain's decline through to Margaret Thatcher's tenth anniversary in office. His book will be invaluable to scholars and students of economics, politics, and history. it offers aTable of ContentsList of abbreviations List of tables and figures Preface Introduction 1. Long waves of class formation 2. The rise and fall of British hegemony 3. Between New Deal and fascism: depression, war and transition in Britain 4. The redefinition of Britain’s global position 1941-73 5. The postwar Fordist offensives 6. Global crisis and the rise of neo-liberalism 7. Thatcherism in power 8. Perspectives for Thatcherism Notes References Subject Index Name Index Author Index
£82.79
Taylor & Francis Economic Principles and Problems
Book SynopsisEconomic Principles and Problems: A Pluralistic Introduction offers a comprehensive introduction to the major perspectives in modern economics, including mainstream and heterodox approaches. Through providing multiple views of markets and how they work, it leaves readers better able to understand and analyze the complex behaviors of consumers, firms, and government officials, as well as the likely impact of a variety of economic events and policies.Including explicit coverage of mainstream economics and the major heterodox schools of economic thoughtâinstitutionalists, feminists, radical political economists, post-Keynesians, Austrians, and social economistsâit allows the reader to choose which ideas they find most compelling in explaining modern economic realities. This second edition includes new and expanded material on international trade (to include disintegration and Brexit), climate issues and perspectives, including degrowth, inter-temporal exchanges and games,
£88.34
Taylor & Francis Global Business Environment
Book SynopsisThis book discusses the shifting paradigms in global business environment from the Fourth Industrial Revolution (Industry 4.0) to the Fifth Industrial Revolution (Industry 5.0). It captures the current shifts in the global environment for business caused mainly by the disruptive nature of rapid technological advancements and the consequences of globalization, which impact political, social and economic changes.Divided into six sections â Political, Economic, Socio-Cultural, Technological, Ethical & Environmental, this book attempts to build perspectives on current trends sweeping globally across political, technological, socio-cultural, and economic landscapes. Furnished with up-to-date examples and case studies, it presents an exhaustive yet lucid view of current socio-economic realities, latest technological advancements, political undercurrents, and the issues and challenges confronting organizations and institutions both globally and locally. It is a compelling narrative
£37.99
Taylor & Francis Efficient Mutual Fund Markets
Book SynopsisThis book covers a new and innovative approach to the issue of investment portfolio efficiency from the perspective of a large institutional investor. It discusses the challenges relating to changes in returns on the international stock market, with particular emphasis on investments.Instead of focusing on just one designated market, the book examines four diversified, developed markets, and models the Polish market as a representative of emerging markets. The authors argue that the current market for available financial instruments, mainly derivatives, may be an example of a partially complete market. With such assumptions, they test selected markets, assuming that a representative investor, such as an investment fund, makes rational decisions and uses all available financial instruments. The research conducted in the book is unique in its assumption that investors form portfolios that consider the structure of the company's financial results. The significant impact that the financial crisis in the United States since 2007, the Covid-19 pandemic, and Russia's aggression against Ukraine have had on investors' decisions is also discussed.The book will find an audience among researchers, scholars and students specializing in finance and capital market investments.
£50.34
John Wiley & Sons Inc The Escape from Balance Sheet Recession and the
Book SynopsisCompare global experiences during the balance sheet recession and find out what is needed for a full recovery The Escape from Balance Sheet Recession and the QE Trap details the many hidden dangers remaining as the world slowly recovers from the balance sheet recession of 2008. Author and leading economist Richard Koo explains the unique political and economic pitfalls that stand in the way of recovery from this rare type of recession that was largely overlooked by economists. Koo anticipated the current predicament in the West long before others and issued warnings in his previous books: Balance Sheet Recession and The Holy Grail of Macroeconomics. This new book illustrates how history is repeating itself in Europe while the United States, which learnt from the Japanese experience, is doing better by avoiding the fiscal cliff. However, because of the liberal dosage of quantitative easing already implemented, the United States, the United Kingdom, and JaTrade ReviewPraise for The Escape from Balance Sheet Recession and the QE Trap "Richard Koo has been a pioneer in recasting macroeconomics for the current era of financial crisis and potential deflation. This book presents his latest thinking in a clear and powerful way. Agree or disagree his work deserves close study if the next decade in the industrial world is going to be better than the last."—Lawrence Summers, President Emeritus and Charles W. Eliot University Professor, Harvard University; former U.S. Secretary of the Treasury "This is an important, stimulating, exciting and timely book. Guided by the ideas in this book, growing numbers of experts are appreciating the parallels between the current world-wide crisis and the crisis Japan experienced 15 years ago. The basic insight – that in the presence of persistent liabilities, the private sector minimizes debt – is one that needs to be fully appreciated in order for appropriate policies to be devised. This is a must-read for all those seeking to respond to the current economic malaise."—Dennis J. Snower, President, Kiel Institute for the World Economy; Professor of Economics, Christian-Alberchts University, Kiel "Koo's The Escape from Balance Sheet Recession and the QE Trap provides the most insightful guide to current macroeconomic policy available today. Koo's concept of 'balance sheet recession' adds depth and detail to observations of the 'liquidity trap' and 'zero lower bound' of interest rates. He explains what needs to be done now and how long it could take. Everyone concerned with macroeconomic policy needs to read this analysis to learn how the world economy can be revived."—Peter Temin, Elisha Gray II Professor Emeritus of Economics, Massachusetts Institute of Technology "I have always liked the Richard Koo style – succinct theories, razor-sharp points, self-sustaining logic, and, more importantly, a set of workable solutions. It’s definitely a worthy read."—Gao Xiqing, Professor, School of Law, Tsinghua University; former Vice Chairman and President, China Investment Corporation "In the wake of the financial crisis of 2008, governments and financial institutions have instituted a wide range of changes in such areas as risk management, regulation, market organization, and fiscal and monetary policy. Unfortunately, however, these measures have suffered from a lack of a unified recognition of the fundamental problem. In a clear, engaging and penetrating way, Richard Koo has diagnosed the core nature of the challenge and the appropriate response. The Escape from Balance Sheet Recession and the QE Trap is an essential guide for anyone interested in the future of the global economy."—Jeffrey E. Garten, Juan Trippe professor of international trade and finance and former Dean, Yale School of Management; former Undersecretary of Commerce "When the history of this depression is written, policymakers who ignore Koo's finding will be judged harshly for imposing unnecessary suffering on their societies."—Richard Duncan, Author, The Dollar CrisisTable of ContentsForeword xix About the Author xxv Chapter 1 Balance Sheet Recession Theory—Basic Concepts 1 GDP and Inflation Fueled by Growth in Money Supply, Not Monetary Base 5 Japan Fell into Balance Sheet Recession in 1990s 10 Plunging Asset Prices Create Balance Sheet Problems for Businesses 12 Japanese Firms Rushed to Repair Balance Sheets by Paying Down Debt 13 “Correct” Private Sector Behavior Tipped Japan into Contractionary Equilibrium 14 Collapse of Japan’s Bubble Destroyed ¥1,500 Trillion in Wealth 16 Why Japanese GDP Did Not Fall after Bubble Burst 18 Fiscal Stimulus Saved Japan’s Economy 21 “Good” Fiscal Deficits Were Not Perceived as Such 23 Balance Sheet Recessions and the Limitations of Econometric Models 25 Fiscal Stimulus Works in Two Stages 28 FDR Made Same Mistake in 1937 28 Reactive Fiscal Stimulus Is Far Less Efficient 30 Fiscal Deficits Are Easily Financed during Balance Sheet Recessions 31 Self-Corrective Mechanism for Economies in Balance Sheet Recessions 33 Two Types of Fiscal Deficits Require Different Responses 34 Fiscal Deficits Must Be Viewed Relative to Private Savings 36 Consequences of Leaving Things Up to the Market in a Balance Sheet Recession 37 GFC Triggered by Insistence on Market Principles 40 Volcker Understood Systemic Crises 41 Little to Be Gained from Bashing Those Who Have Already Come to Their Senses 42 Recovery from Balance Sheet Recession Takes Time 43 Forward Guidance Important for Fiscal as Well as Monetary Policy 43 Fiscal Consolidation: Better Too Late Than Too Early 45 Three Points to Consider Regarding Costs for Future Generations 47 Japan Had a Shot at Full Recovery in 1996 . . . 49 Conflation of Balance Sheet and Structural Problems Extends Recession 50 Distinguishing Balance Sheet Recessions from Structural Problems and Financial Crises 53 Democracies Are Ill-Equipped for Dealing with Balance Sheet Recessions 55 Keynes Also Overlooked Private-Sector Debt Minimization 56 Those Who Prevent Crises Never Become Heroes 58 Democracy Plus Balance Sheet Recession Equals “Secular Stagnation” 59 Appendix to Chapter 1: Summary of Yin and Yang Phases of Economy 60 Chapter 2 Monetary Policy and the Quantitative Easing Trap 63 Monetary Policy Impotent without Demand for Funds 64 Mechanisms for Money Supply Growth 65 Government Borrowing Drove Money Supply Growth in Japan 67 Economics Dogged by Incorrect Analysis of Great Depression 68 Japanese Monetary Policy Has Relied on Fiscal Policy for Past 20 Years 72 Balance Sheet Recessions Triggered by Borrower-Side Problems, Financial Crises Triggered by Lender-Side Problems 74 Bernanke Himself Says QE2 Unlikely to Have Major Macroeconomic Benefits 75 Real Aim of QE2: Portfolio Rebalancing Effect 75 Can Higher Share Prices under QE2 Be Justified on DCF Basis? 77 QE2 a Big Gamble for Bernanke 77 QE Undermined U.S. Leadership in G20 78 QE with No Income Effect Harms Other Countries 79 Dollar-Buying Intervention by U.S. Authorities Would Have Produced Different Outcome 80 Inward Capital Controls Help Keep Bubbles Fueled by Hot Money in Check 80 QE Represents Government Intervention in Asset Markets 81 Operation Twist Lowered Long-Term Rates, but to No Effect 81 Operation Twist Provided Only Limited Economic Boost 83 Bernanke Admits the United States Faces Same Problems as Japan 84 Fed Overestimates Impact of Quantitative Easing 84 “Lower Long-Term Rates = Higher GDP” Formula Does Not Hold during Balance Sheet Recession 85 Fed Has Also Underestimated Costs of QE 85 Unorthodox Monetary Policy Distorts Signals from Bond Market 86 Needless QE Acts as Drag on Financial Institutions 87 Why Fed Embarked on QE3 Two Months before Presidential Election 88 Post-Bubble Wage Growth Nearly Identical in the United States and Japan 89 The “Inconvenient Truth” of the Real Cost of Quantitative Easing 89 BOJ’s First Round of QE Was Easy to Wind Down Because It Was Conducted in Money Market 91 Redemption of Central Bank Bond Holdings Will Not Reduce Commercial Banks’ Current Accounts 92 Government Issue of Refunding Bonds to Private Sector Would Absorb Excess Reserves 92 Redeeming Fed Bond Holdings Has Same Effect as Issuing Deficit Bonds 93 Strength of Private Loan Demand Different at Start and End of QE 94 Paying Interest on Excess Reserves Would Enable Rate Hikes . . . 94 But Cost Could Be Prohibitive 95 Cost of Winding Down QE Has Yet to Be Properly Analyzed 97 Debate over Winding Down QE Sparks “Bad” Rise in Rates 98 “QE Trap” Appears Increasingly Likely 98 Continued QE Trap More Likely Than Hyperinflation 101 BOJ Found Itself in Same Position in 2006 103 Fed Admits That Supply and Demand Matters, Too 103 Fed Changes Course Despite a 1.1 Percent Inflation Rate 104 Traditional Phillips Curve Relationship No Longer Holds 105 Upcoming Chapters in QE Saga 106 Capital Injection Could Also Be Threatened If Blame Shifts to Fed 106 Sales Should Start with Bonds Maturing Soon 107 Final Cost of QE Can Be Calculated Only at End of Fourth Chapter 108 Theoretical Debate on QE Has Focused Entirely on Benefits and Ignored Costs 108 Central Banks Should Establish a New Reaction Function to Drain Reserves 110 Emerging Markets Need Inward Capital Controls to Protect against QE 111 Japan Should Learn from Pioneers in QE Using Long-Term Bonds 112 Financial and Capital Markets during Balance Sheet Recessions 113 Balance Sheet Recession Brings Special Kind of Liquidity-Driven Market 115 Is Inflation of 1–2 Percent Too Low? 116 Does Inflation Improve People’s Standard of Living? 116 Absence of Inflation Concerns May Have Lifted Utility of Consumption in Japan 117 QE Should Not Be Pursued Any Further Given Difficulty of Winding It Down 118 QE a Problematic Byproduct of Balance Sheet Recessions 119 Chapter 3 The United States in Balance Sheet Recession 121 Rating Agencies Need to Be More Tightly Regulated 123 Why Was Lehman Allowed to Fail? 124 TARP Prevented Bank Failures but Also Created Turmoil 127 U.S. Authorities Changed Course with “Pretend and Extend” 129 Fiscal Stimulus Shifts from “Three Ts” to “Three Ss” 131 Obama Has Yet to Disclose the Name of the Disease 132 Bernanke’s “Fiscal Cliff” Warning Saved the U.S. Economy 134 Bernanke Declared Monetary Easing Could Not Offset Impact of Fiscal Cliff 136 Fall from Fiscal Cliff Triggered Japan’s Deflation 137 U.S. Households Still Repairing Balance Sheets 138 Nonfinancial Corporate Sector Faced Difficult Years in the Wake of GFC 140 U.S. Companies Hit Far Harder by GFC Than by Collapse of Internet Bubble 141 Can U.S. Corporate Sector Become Economic Engine? 141 Long-Term Rate “Conundrum” Kept Housing Bubble Alive 142 Post-2007 Fed in Similar Position to BOJ in 1990s 143 Flow-of-Funds Data Suffer from Poor Accuracy 143 Bad Data Were Good for Policy Debate 145 Estimated Correctly, Private Sector Financial Surplus Continues to Shrink 146 Recovery in U.S. Private Sector Demand for Funds May Outpace Japan 148 Housing Market Strength during the First Half of 2013 May Have Contained Temporary Factors 149 Fed’s Reputation Falls to Earth 150 Chapter 4 The Great Potential of Abenomics 153 BOJ Already Had a Massive QE Program in Place 155 Why Didn’t Japan’s Institutional Investors Follow Their Overseas Counterparts? 157 Yen Fell and Stocks Rose Because Japan’s Institutional Investors Stayed in Bond Market 158 Honeymoon Altered Japan’s Economic Landscape 159 Bond Market Reaction Ended Abenomics’s Honeymoon 160 Private Sector Continues to Save after One Year of Abenomics 161 Japan’s Growth over Last Year Attributable to Fiscal Policy 162 Can the Abe Administration Overcome the Trauma of Balance Sheet Recession? 164 The Trauma of the Balance Sheet Recession Will Be the Last Effect to Go 166 Focus of Structural Reforms Must Shift from Lenders to Borrowers 167 Is Japan’s Slump Due to Shrinking Population or Balance Sheet Problems? 169 Slump in Domestic Demand Was Due to Balance Sheet Recession, Not Decline in Working-Age Population 170 Personal Financial Assets Have Already Been Invested Somewhere 171 Corporate Debt Pay-Downs Weighed on Consumption and Investment 171 Real Bottleneck in Japan’s Economy: Lack of Loan Demand at Private Companies 172 Balance Sheet Recession Has Taught Japanese How to Be Frugal 173 Is Japan Really Closed to Immigration? 174 Japanese Economy Would Cease to Function without Foreigners 175 Agricultural Reforms a Major Step for LDP Government 176 Structural Reforms Are Microeconomic Policies That Take Years to Work 177 Scale of Structural Reform Is Also Important 177 We Should Not Expect More Good Fortune 178 Kuroda May Be Trying to Close Gap between Expectations and Reality … 180 BOJ and Government Must Stress That Inflation Overshoot Will Not Be Tolerated 182 BOJ Had Weapon to Prevent JGB Crash during Balance Sheet Recession 183 No One Has Criticized Japan for Currency Manipulation 184 Japan Supported Global Economy for Four Years after Lehman Collapse 185 Real Effective Exchange Rate Does Not Fully Express Japanese Firms’ Pain 187 Rising Fiscal Deficits Caused by Change in Corporate Behavior 188 How Should Japan’s Tax System Be Reformed? 190 Fiscal Stimulus Introduced to Offset Consumption Tax 191 Current Corporate Earnings Based on Massive Fiscal Deficits 192 Working Down Public Debt Will Require Bold Policies to Lift Japan’s Growth Rate 192 Incentives Needed to Restore Japan’s Economic Vitality 194 More Effective Land Utilization Could Propel Growth 194 Japan Needs Bold Tax Reforms Modeled on U.S. and Hong Kong Systems 195 Policies Need to Change Perceptions of Japan at Home and Abroad 196 Chapter 5 Euro Crisis—Facts and Resolution 199 Euro’s Adoption Lowered Interest Rates Sharply 200 Maastricht Treaty Acted as Constraint on Credit Risk 201 Greece Was Spoiled by Euro, and Germany Reacted Violently 203 Germans Believed Structural Reforms Required a Crisis 204 German Balance Sheet Recession Eight Years before GFC Started the Crisis 205 German IT Bubble Brought about Euro Crisis 209 ECB’s Rate Cuts Create Bubbles outside Germany 210 Misunderstandings Regarding Lack of Competitiveness in Southern Europe 213 Money Supply Growth Much Lower in Germany 214 German Reforms Responsible for Only Half of Competitive Gap 214 Germany Benefited Most from Euro 216 One More Mutual Dependency between Germany and Eurozone Periphery 217 Spain’s Vicious Balance Sheet Recession 219 Ireland’s Household Sector Forced to Pick Up Pieces after Massive Housing Bubble 220 Irish Businesses Remain Net Savers 222 Portugal’s Balance Sheet Recession Began Quite Recently 224 Italy Is in Same Position as Portugal 225 Why the Polarization of Eurozone Government Bond Yields? 227 Eurozone Allows Investors to Buy Government Bonds of Member Countries with No Currency Risk 229 Eurozone-Specific Fund Flows Amplify Economic Swings 230 Meaning of “Fiscal Space” Differs Inside and Outside Eurozone 231 Maastricht Treaty Is Defective and Should Be Revised Immediately 232 In Practice, Fiscal Stimulus Requires EU and ECB Approval 233 Ban on Buying Other Nations’ Debt Ideal Way to Stabilize Eurozone 234 Efficiency Gains from Single Currency Remain Intact 235 Different Risk Weights Should Be Applied to Domestic and Foreign Government Debt 237 Next-Best Alternative to Risk Weights Already in Place? 238 Separation of Sovereign Risk and Banking Risk a Rejection of self-Corrective Mechanism 238 Joint Issue of Eurobonds Would Only Solve Half of Eurozone’s Structural Defects 240 Draghi Unaware That There Are Two Kinds of Recessions and Fiscal Deficits 241 Outside of Greece, Capital Flight Is the Problem 243 Explaining Balance Sheet Recessions to the German Public 244 Even Germans Understand Need for Fiscal Stimulus If Properly Explained 245 Excessive Focus on Fiscal Deficits While Ignoring Growth in Private Savings 246 Lack of Private Loan Demand Biggest Problem for Germany 247 Germany Unlikely to Announce Stimulus Package 247 Disadvantages of Euro Exit for Greece 248 Argentina’s Experience Also Suggests Euro Exit Would Have Few Merits for Greece 249 Germany’s Competitive Gap with Other Countries Will Also Disappear in a Few Years 251 Draghi’s LTROs Prevented Collapse of Eurozone Financial System 252 “Grand Bargain” with ECB Is an Empty Promise 254 Double-Dip Recessions and the Eurozone’s Bad Loan Problem 255 EBA’s Lack of Understanding of Systemic Crises Leads to Rash Actions 256 Cypriot Bank Resolution Could Worsen Financial System Jitters 257 Vicious Cycle of Creating New Bubbles to Paper over Old Ones 258 EU Election Results the Result of Economic Policy Errors 259 European Policymakers Mistake Balance Sheet Problems for Structural Problems 260 Policymakers Need to Ask Why Eurosceptics Made Such Gains 262 Disappointment with Established Parties Led to Rise of Nazis and World War II 262 Continued Disregard for People’s Voice Puts Democracy in Jeopardy 263 U.S. Voters Had Policy Choices, Unlike Their European Counterparts 263 The Euro Can Be Saved with Two Repairs 264 Chapter 6 China’s Economic Challenges 267 China’s Local Governments Began Borrowing en Masse 268 Decoupling Would Not Have Been Possible in Ordinary Democracy 269 China’s Remaining Problems Include Overcapacity and Income Inequality 270 China Understands Political Ramifications of Inflation 270 China’s Shadow Banking Sector: Misunderstandings and Realities 272 Problem: Sharp Growth in Lending to Local Governments Post-Lehman 273 Decoupling of China and Developed Economies to Continue 274 Problems Facing China’s Economy 274 China Has Already Passed the Lewis Turning Point 276 Rapid Economic Growth Continues until Lewis Turning Point 277 U.S.-Led Free Trade Regime Enabled the Emergence of Asia 278 Economy Starts to Mature Only after Passing the Lewis Turning Point 279 Local and Global Lewis Turning Points and Inequality 280 China Increasingly Tolerant of RMB Appreciation as Transition to Consumption-Led Economy Proceeds 281 The West Is Conflating Problems of Trade Imbalance and Financial Crisis 282 Liberalized Financial Sector and Capital Flows Could Weaken RMB 283 China Could Fall into the “Middle-Income Trap” If It Neglects to Advance Its Industrial Base 284 Japan, Korea, and Taiwan Escaped from Middle-Income Trap 284 Labor Disputes Increase Sharply after the Lewis Turning Point Is Reached 287 The Dilemma of Patriotism with an External Enemy 289 Working-Age Population Peaked Just as the Lewis Turning Point Was Reached 290 Will China Grow Old before It Grows Rich? 291 The Next 15 to 20 Years Are Critical 292 Uncertainty Due to Corruption and Lack of Legal Infrastructure Must Be Removed . . . 293 Appealing to Patriotism without Creating External Enemies 294 China Could Become a World-Class Nation for the First Time in Two Centuries 295 Chinese Ambition and Industry Must Be Steered in Right Direction 296 Afterword 299 Bibliography 301 Index 305
£24.79
Palgrave Macmillan The Industrial Policy Revolution I The Role of
Book SynopsisThis volume is the result of the 2012 International Economic Association's series of roundtables on the theme of Industrial Policy. The first, 'New Thinking on Industrial Policy,' was hosted by the World Bank in Washington, D.C, and the second, 'New Thinking on Industrial Policy: Implications for Africa,' was held in Pretoria, South Africa.Table of ContentsPART I: CONCEPTUAL ISSUES AND PRINCIPLES OF INDUSTRIAL POLICY 1. Comparative Advantage: The Silver Bullet of Industrial Policy; Justin Yifu Lin and Célestin Monga 2. Comments on 'Comparative Advantage: The Silver Bullet of Industrial Policy; Ha-Joon Chang 3. Industrial Policies, the Creation of a Learning Society, and Economic Development; Bruce Greenwald and Joseph Stiglitz 4. Discussion of 'Industrial Policies, the Creation of a Learning Society, and Economic Development; Josh Lerner PART II: SPECIAL ISSUES FOR DEVELOPING COUNTRIES 5. Technology Policies and Learning with Imperfect Governance; Mushtaq H. Khan 6. Comments on 'Technology Policies and Learning with Imperfect Governance'; Pranab Bardham 7. The Boulevard of Broken Dreams: Industrial Policy and Entrepreneurship; Josh Lerner 8. Comments on 'The Boulevard of Broken Dreams: Industrial Policy and Entrepreneurship'; Indermit Gill PART III: INSTRUMENTS OF INDUSTRIAL POLICY 9. Financing Development: The Case of BNDES; João Carlos Ferraz, Claudio Figueiredo Coelho Leal, Felipe Silveira Marques and Marcelo Trindade Miterhof 10. Comments on 'Financing Development: The Case of BNDES'; Robert Cull 11. Growth and the Quality of Foreign Direct Investment; Laura Alfaro and Andrew Charlton 12. Comments on 'Growth and the Quality of Foreign Direct Investment; Ann Harrison 13. Clusters as an Instrument for Industrial Policy: The Case of China; Xiaobo Zhang 14. Theories of Agglomeration: Critical Analysis from a Policy Perspective; Célestin Monga PART IV: REGIONAL CASE STUDIES OF SUCCESSFUL AND UNSUCCESSFUL INDUSTRIAL POLICIES 15. Capability Failure and Industrial Policy to Move beyond the Middle-Income Trap: From Trade-based to Technology-based Specialized; Keun Lee 16. Comments on 'Capability Failure and Industrial Policy to Move beyond the Middle-Income Trap: From Trade-based to Technology-based Specialized; Ariel Fiszbein 17. What's New in the New Industrial Policy in Latin America? Robert Devlin and Graciela Moguillansky 18. Comments on 'What's New in the New Industrial Policy in Latin America?'; Carlos Alvarez V. PART V: COUNTRY CASE STUDIES OF SUCCESSFUL AND UNSUCCESSFUL INDUSTRIAL POLICIES 19. New Thinking on Industrial Policy Country Case Studies of Successful and Unsuccessful Industrial Policies: The Return of Industrial Policy in Brazil David Kupfer, João Carlos Ferraz and Felipe Silveira Marques 20. Industrial Policy and Development: Lessons from Brazil. Comments on the Paper by David Kupfer, João Carlos Ferraz and Felipe Silveira Marques; Volcker Treichel 21. The Chaebol and Industrial Policy in Korea; Wonhyuk Lim 22. Comments on 'The Chaebol and Industrial Policy in Korea'; Shahid Yusuf
£67.49
Pearson Education Macroeconomics
Book SynopsisTable of Contents CHAPTER 1 What Is Macroeconomics? CHAPTER 2 The Measurement of Income, Prices, and Unemployment CHAPTER 3 Income and Interest Rates: The Keynesian Cross Model and the IS Curve CHAPTER 4 Strong and Weak Policy Effects in the IS-LM Model CHAPTER 5 Financial Markets, Financial Regulation, and Economic Instability CHAPTER 6 The Government Budget, the Government Debt, and Limitations of Fiscal Policy CHAPTER 7 International Trade, Exchanges Rates, and Macroeconomic Policy CHAPTER 8 Aggregate Demand, Aggregate Supply, and the Great Depression CHAPTER 9 Inflation: Its Causes and Cures CHAPTER 10 The Goals of Stabilization Policy: Low Inflation and Low Unemployment CHAPTER 11 The Theory of Economic Growth CHAPTER 12 The Big Questions of Economic Growth CHAPTER 13 The Goals, Tools, and Rules of Monetary Policy CHAPTER 14 The Economics of Consumption Behavior CHAPTER 15 The Economics of Investment Behavior CHAPTER 16 New Classical Macro and New Keynesian Macro CHAPTER 17 Conclusion: Where We Stand
£61.99
