Macroeconomics - Imperfections, Institutions and Policies (Carlin Wendy (Professor of Economics University College London))(Paperback)

The distinctive feature of this book is that it provides a unified framework for the analysis of short- and medium-run macroeconomics. This gives students a model that they can use themselves to understand a wide range of real-world macroeconomic behavior and policy issues. The authors introduce a new graphical model (IS/PC/MR) based on the 3-equation New Keynesian model used in modern macroeconomics. The three equations are the IS curve, the Phillips curve, and an interest rate-based monetary policy rule. The use of a common framework throughout for closed and open economies helps students develop the economic intuition with which to address a diversity of macroeconomic problems.
Applied chapters show how models can be used to analyze performance in OECD economies over the past 25 years. The chapters on growth present in-depth coverage of the Solow-Swan, endogenous, and
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