An accessible description of modern macroeconomics, and a defense
of its policy relevance. Macroeconomists have been caricatured
either as credulous savants in love with the beauty of their
mathematical models or as free-market fundamentalists who admit no
doubt as to the market's wisdom. In this book, Kartik Athreya draws
a truer picture, offering a nontechnical description of prominent
ideas and models in macroeconomics, and arguing for their value as
interpretive tools as well as their policy relevance. Athreya
deliberately leaves out the technical machinery, providing an
essential guide to the sometimes abstract ideas that drive
macroeconomists' research and practical policy advice. Athreya
describes the main approach to macroeconomic model construction,
the foundational Walrasian general-equilibrium framework, and its
modern version, the Arrow-Debreu-McKenzie (ADM) model. In the heart
of the book, Athreya shows how the Walrasian approach shapes and
unifies much of modern macroeconomics. He details models central to
ongoing macroeconomic analyses: the neoclassical and stochastic
growth models, the standard incomplete-markets model, the
overlapping-generations model, and the standard search model.
Athreya's accessible primer traces the links between the views and
policy advice of modern macroeconomists and their shared
theoretical approach.
General
Imprint: |
MIT Press
|
Country of origin: |
United States |
Series: |
The MIT Press |
Release date: |
August 2015 |
First published: |
2014 |
Authors: |
Kartik B. Athreya
|
Dimensions: |
229 x 152 x 19mm (L x W x T) |
Format: |
Paperback - Trade
|
Pages: |
432 |
ISBN-13: |
978-0-262-52830-6 |
Categories: |
Books >
Business & Economics >
Economics >
Macroeconomics >
General
|
LSN: |
0-262-52830-4 |
Barcode: |
9780262528306 |
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