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macroeconomics a european perspective 3e

Macroeconomics: A European Perspective (3rd Edition) – eBook

eBook details

  • Authors: by Olivier Blanchard, Alessia Amighini, Francesco Giavazzi
  • File Format: PDF
  • Size: 13 MB
  • Length: 592 pages
  • Publisher: Pearson; 3rd edition
  • Publication Date: August 4, 2017
  • Language: English
  • ISBN-10: 1292085673
  • ISBN-13: 9781292085678

Original price was: $56.00.Current price is: $24.99.

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Author(s)

Francesco Giavazzi

Olivier J. Blanchard

Olivier J. Blanchard

Although a citizen of France, Dr. Olivier Jean Blanchard has spent most of his life in Cambridge, Massachusetts. After obtaining his PhD in economics from MIT in 1977, he taught at Harvard University, returning to MIT in 1982. He was chair of the economics department from 1998 to 2003. In 2008, Dr. Blanchard took a leave of absence to be the Economic Counsellor and Director of the Research Department of the International Monetary Fund (IMF). Since October 2015, he is the Fred Bergsten Senior Fellow at the Peterson Institute for International Economics, in Washington. He also remains Robert M. Solow Professor of Economics emeritus.

Dr. Blanchard has worked on a wide set of macroeconomic issues, from the role of monetary policy, to the nature of the labor market and the determinants of unemployment, to transition in former communist countries, to the nature of speculative bubbles, and to forces behind the recent global crisis. In the process, Olivier has worked with numerous international organizations and countries. He is the writer of many articles and books, including a graduate level book with Dr. Stanley Fischer.

Olivier is also a past editor of the NBER Macroeconomics Annual, Quarterly Journal of Economics, and founding editor of the AEJ Macroeconomics. He is a fellow and past council member of the Econometric Society, a past vice president of the American Economic Association, and a member of the American Academy of Sciences.

This ebook, Macroeconomics: A European Perspective 3rd edition (PDF) gives economics students a thorough understanding of macroeconomics by taking a unified view of the subject, allowing connections to be made between the long, medium, and the short run. Re-written by best-selling authors almost from scratch in light of the experience of the Great Recession, this etextbook is essential reading for anyone studying macroeconomics in the aftermath of the financial crisis. 

The ebook has been rewritten almost from scratch after a thorough re-think of how macroeconomics should be taught after the financial crisis.

Among the new features:

  • The textbook recognizes that modern central banks set interest rates, not the quantity of money: this gets rid of the LM curve greatly simplifying the discussion of financial markets
  • The yield curve now incorporates a risk premium, whose fluctuations have been central to the crisis, especially since Quantitative Easing policies have shown that monetary policy can affect this premium
  • It presents the Medium Run starting directly from the Phillips curve, thus avoiding the intermediate AS-AD step which was clunky, and, for good reasons, undergraduate students find it very difficult to understand.  Output above potential, or unemployment below the natural rate put upward pressure on inflation. The nature of the pressure depends on the formation of expectations, an issue central to current developments

Review

“This is a truly outstanding textbook that beautifully marries theory, empirics, and policy. It is surely destined to become the gold standard against which all other textbooks must be measured.” — Charles Bean, Deputy Governor, Bank of England.

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