Description

Book Synopsis
This volume uses state of the art models from the frontier of macroeconomics to answer key questions about how the economy functions and how policy should be conducted. The contributions cover a wide range of issues in macroeconomics and macroeconomic policy. They combine high level mathematics with economic analysis, and highlight the need to update our mathematical toolbox in order to understand the increased complexity of the macroeconomic environment. The volume represents hard evidence of high research intensity in many fields of macroeconomics, and warns against interpreting the scope of macroeconomics too narrowly. The mainstream business cycle analysis, based on dynamic stochastic general equilibrium (DSGE) modelling of a particular type, has been criticised for its inability to predict or resolve the recent financial crisis. However, macroeconomic research on financial, information, and learning imperfections had not yet made their way into many of the pre-crisis DSGE models b

Table of Contents
PART 1: FINANCIAL CRISIS AND RECOVERY ; PART 2: LEARNING, INCENTIVES, AND PUBLIC POLICY

Macroeconomics at the Service of Public Policy

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    A Paperback by Thomas J. Sargent, Jouko Vilmunen

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      Book details

      Publisher Oxford University Press
      Published 10 August 2015
      ISBN-13 9780198743767
      978-0198743767
      ISBN-10 0198743769
      Also in:
      Business, Finance & Law Econometrics and economic statistics Economic forecasting Macroeconomics

      Description

      Book Synopsis
      This volume uses state of the art models from the frontier of macroeconomics to answer key questions about how the economy functions and how policy should be conducted. The contributions cover a wide range of issues in macroeconomics and macroeconomic policy. They combine high level mathematics with economic analysis, and highlight the need to update our mathematical toolbox in order to understand the increased complexity of the macroeconomic environment. The volume represents hard evidence of high research intensity in many fields of macroeconomics, and warns against interpreting the scope of macroeconomics too narrowly. The mainstream business cycle analysis, based on dynamic stochastic general equilibrium (DSGE) modelling of a particular type, has been criticised for its inability to predict or resolve the recent financial crisis. However, macroeconomic research on financial, information, and learning imperfections had not yet made their way into many of the pre-crisis DSGE models b

      Table of Contents
      PART 1: FINANCIAL CRISIS AND RECOVERY ; PART 2: LEARNING, INCENTIVES, AND PUBLIC POLICY

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