{"product_id":"economic-modeling-in-the-post-great-recession-era-9781119349839","title":"Economic Modeling in the Post Great Recession Era","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003e\u003cb\u003eReality-based modeling for today''s unique economic recovery\u003c\/b\u003e \u003cp\u003e\u003ci\u003eEconomic Modeling in the Post Great Recession Era\u003c\/i\u003e presents a more realistic approach to modeling, using direct statistical applications to address the characteristics and trends central to current market behaviors. This book''s unique focus on the \u003ci\u003ereality\u003c\/i\u003e of today''s markets makes it an invaluable resource for students and practitioners seeking a comprehensive guide to more accurate forecasting. While most books treat the economy as if it were in a vacuum, building models around idealized or perception-biased behaviors, this book deals with the economy as it currently standsin a state of recovery, limited by financial constraints, imperfect information, and lags and disparities in price movements. The authors identify how these characteristics impact various markets'' behaviors, and quantify those behaviors using SAS as the primary statistical tool.\u003c\/p\u003e \u003cp\u003eToday''s economy bears a number of unique attr\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003c\/p\u003e\u003cp\u003ePreface\/Justification xiii\u003c\/p\u003e \u003cp\u003eAcknowledgments xxi\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Setting the Context 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Problem with Uncritical Assumptions in a Less-Than-Perfect Economy 2\u003c\/p\u003e \u003cp\u003eThe Problem with Models in an Imperfect Economy 3\u003c\/p\u003e \u003cp\u003eFour Characteristics of a Less-Than-Perfect Economy 4\u003c\/p\u003e \u003cp\u003eEconomic Policy Inconsistencies—The Parable of Strange Bedfellows 13\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Dynamic Adjustment in an Economy: Frictions Matter 15\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 16\u003c\/p\u003e \u003cp\u003eQuantifying Frictions: Is the Long-Run Average a Useful Guide for the Future? 32\u003c\/p\u003e \u003cp\u003eModeling Dynamic Adjustment due to Economic Frictions: Decision Making in an Evolving World 49\u003c\/p\u003e \u003cp\u003eDynamic Economic Adjustment: An Evolution unto Itself 67\u003c\/p\u003e \u003cp\u003eAppendix 68\u003c\/p\u003e \u003cp\u003eA Case for the Multiple Markets: 1983–2008 68\u003c\/p\u003e \u003cp\u003eThe Labor Market: 1983–2008 70\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Information: Past Imperfect, Present Incomplete, Future Uncertain 73\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStory Behind the Numbers 76\u003c\/p\u003e \u003cp\u003eConclusion 103\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Price Adjustment and Search for Equilibrium 105\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Barriers Are There to Perfectly Flexible Prices? 107\u003c\/p\u003e \u003cp\u003eImplications 112\u003c\/p\u003e \u003cp\u003eFinding Dynamic Adjustment in the Data 116\u003c\/p\u003e \u003cp\u003eConclusion 121\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Business Investment: This Time Is Different 123\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDrivers of Business Spending 125\u003c\/p\u003e \u003cp\u003ePutting It All Together: Explaining Slow Recovery in Capital Investment 134\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Corporate Profits: Reward, Incentive, and That Standard of Living 135\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction: Profits as Essential Partner 136\u003c\/p\u003e \u003cp\u003eThe Role of Profits in the Economic Cycle: Five Drivers 137\u003c\/p\u003e \u003cp\u003eThe Role of Profits: Incentives and Rewards 140\u003c\/p\u003e \u003cp\u003eConcluding Remarks: Modeling Profits 167\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Labor Market Evolution: Implications for Private-Sector and Public-Policy Decision Makers 169\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePart I: Labor Market Imperfections 171\u003c\/p\u003e \u003cp\u003ePart II: Heterogeneity in the Labor Market 182\u003c\/p\u003e \u003cp\u003ePart III: How Do Secular Labor Market Trends Impact Economic Policy? 196\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Inflation: When What You Get Isn’t What You Expect 205\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 206\u003c\/p\u003e \u003cp\u003eWhat Is Inflation? 207\u003c\/p\u003e \u003cp\u003eWhy Does Inflation Matter? 208\u003c\/p\u003e \u003cp\u003eWhat Determines Inflation? 212\u003c\/p\u003e \u003cp\u003eInflation after the Great Recession 219\u003c\/p\u003e \u003cp\u003eApplication: Predicting if Central Banks Can Achieve Price Stability 230\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Interest Rates and Credit: Capital Markets in the Post–Great Recession World 235\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eImperfect Guidance in an Uncertain World 236\u003c\/p\u003e \u003cp\u003eA Look at Actual History over the Long Run 247\u003c\/p\u003e \u003cp\u003eCredit and Administered Rates 250\u003c\/p\u003e \u003cp\u003eImperfect Information and Credit 255\u003c\/p\u003e \u003cp\u003eConclusion: Shift from Historical Benchmarks 280\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Three-Dimensional Checkers: Open Economy, Capital Flows, and Exchange Rates 281\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eNewton’s Third Law 282\u003c\/p\u003e \u003cp\u003eIntroducing a New Price to the Analysis: The Role of Exchange Rates 289\u003c\/p\u003e \u003cp\u003eThree-Dimensional Checkers on an International Playing Field 295\u003c\/p\u003e \u003cp\u003eA Perfect Model in an Imperfect World 298\u003c\/p\u003e \u003cp\u003eConcluding Remarks: Future Looks Different 330\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Assessing Economic Policy in an Imperfect Economy 331\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGeneralized Policy Model 333\u003c\/p\u003e \u003cp\u003eRules and Reputation: Beyond Economic Benchmarks 338\u003c\/p\u003e \u003cp\u003eConfronting Our Three Market Imperfections 340\u003c\/p\u003e \u003cp\u003eEconomic Policy in the Context of an Imperfect Economy 359\u003c\/p\u003e \u003cp\u003eAbout the Authors 361\u003c\/p\u003e \u003cp\u003eIndex 363\u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":49407036621143,"sku":"9781119349839","price":54.62,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9781119349839.jpg?v=1730497958","url":"https:\/\/bookcurl.com\/products\/economic-modeling-in-the-post-great-recession-era-9781119349839","provider":"Book Curl","version":"1.0","type":"link"}