This book provides a concise yet rigorous discussion of the main
issues in modern macroeconomics. In particular, it examines the
controversy over the role and conduct of macroeconomic
stabilization policy.While the book is written in such a way as to
allow students to read individual chapters in isolation, according
to their interests and needs, the book follows a structured
direction. After providing a review of mainstream macro-models and
the chief areas of controversy between Keynesian, Monetarist and
New Classical approaches to stabilization policy, subsequent
chapters focus on selected key controversies: the balance of
payments and exchange rates; inflation and unemployment; money and
economic activity; fiscal policy and aggregate demand; and business
cycles. The approach adopted by the authors make this book highly
responsive to teaching and student needs. This authoritative
state-of-the-art survey of modern macroeconomics will be essential
reading for intermediate level courses in macroeconomics.
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