Book by Frank Hahn (University of Siena); Robert Solow (Massachusetts Institute of Technology)
"synopsis" may belong to another edition of this title.
Macroeconomics began as the study of large-scale economic pathologies such as prolonged depression, mass unemployment, and persistent inflation. In the early 1980s, rational expectations and new classical economics dominated macroeconomic theory, with the result that such pathologies can hardly be discussed within the vocabulary of the theory. This essay evolved from the authors' profound disagreement with that trend. It demonstrates not only how the new classical view got macroeconomics wrong, but also how to go about doing macroeconomics the right way. Hahn and Solow argue that what was originally offered as a normative model based on perfect foresight and universal perfect competition - useful for predicting what an ideal, omniscient planner should do - has been almost casually transformed into a model for interpreting real macroeconomic behavior, leading to Panglossian economics that does not reflect actual experience. Following an explanation of microeconomic foundations, chapters introduce the basic elements for a better macro model. The model is simple, but combined with the appropriate model of the labor market it can say useful things about the fluctuation of employment, the correlation between wages and employment, and the role for corrective monetary policy.
Frank Hahn is Professor Ordinario at the University of Siena, Professor Emeritus of Cambridge University, and Fellow of Churchill College. Robert Solow is Institute Professor of Economics Emeritus at the Massachusetts Institute of Technology. He received the Nobel Prize in economics in 1987 for his macroeconomic research linking technology and growth.
"About this title" may belong to another edition of this title.
Shipping:
US$ 10.54
From United Kingdom to U.S.A.
Shipping:
US$ 2.64
Within U.S.A.
Seller: WeBuyBooks, Rossendale, LANCS, United Kingdom
Condition: Good. Most items will be dispatched the same or the next working day. Seller Inventory # wbs2379205670
Quantity: 1 available
Seller: GreatBookPrices, Columbia, MD, U.S.A.
Condition: As New. Unread book in perfect condition. Seller Inventory # 5412598
Quantity: 5 available
Seller: NEPO UG, Rüsselsheim am Main, Germany
Taschenbuch. Condition: Gut. 172 Seiten ex Library Book / aus einer wissenschaftlichen Bibliothek Sprache: Englisch Gewicht in Gramm: 259. Seller Inventory # 294472
Quantity: 1 available
Seller: GreatBookPrices, Columbia, MD, U.S.A.
Condition: New. Seller Inventory # 5412598-n
Quantity: 5 available
Seller: Brook Bookstore, Milano, MI, Italy
Condition: new. Seller Inventory # 35e739a59f789aab31e203aefd5ae77f
Quantity: Over 20 available
Seller: PBShop.store UK, Fairford, GLOS, United Kingdom
PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # FW-9780631209898
Quantity: 15 available
Seller: Lucky's Textbooks, Dallas, TX, U.S.A.
Condition: New. Seller Inventory # ABLIING23Feb2416190081846
Quantity: Over 20 available
Seller: THE SAINT BOOKSTORE, Southport, United Kingdom
Paperback / softback. Condition: New. New copy - Usually dispatched within 4 working days. In the early 1980s, rational expectations and new classical economics dominated macroeconomic theory, with the result that such pathologies can hardly be discussed within the vocabulary of the theory. This essay evolved from the author's profound disagreement with that trend. Seller Inventory # B9780631209898
Quantity: Over 20 available
Seller: Ria Christie Collections, Uxbridge, United Kingdom
Condition: New. In. Seller Inventory # ria9780631209898_new
Quantity: Over 20 available
Seller: Books Unplugged, Amherst, NY, U.S.A.
Condition: New. Buy with confidence! Book is in new, never-used condition 0.65. Seller Inventory # bk0631209891xvz189zvxnew
Quantity: 1 available