Book by Hahn Frank Solow Robert
Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.
Macroeconomics began as the study of large–scale economicpathologies such as prolonged depression, mass unemployment andpersistent inflation. In the early 1980s rational expectations andnew classical economics dominated macroeconomic theory, with theresult that such pathologies can hardly be discussed within thevocabulary of the theory. This book evolved from the authors′profound disagreement with that trend. It demonstrates not only howthe new classical view got macroeconomics wrong, but how to goabout doing macroeconomics the right way.
Following an explanation of microeconomic foundations, chaptersintroduce the basic elements for a better macro–model. The model issimple, but combined with the appropriate model of the labor marketit can say useful things about the fluctuation of employment, thecorrelation between wages and employment, and the role forcorrective monetary policy.
In the early 1980s, rational expectations and new classicaleconomics dominated macroeconomic theory. This essay evolved fromthe authors′ profound disagreement with that trend. It demonstratesnot only how the new classical view got macroeconomics wrong, butalso how to go about doing macroeconomics the right way.
Hahn and Solow argue that what was originally offered as anormative model based on perfect foresight and universal perfectcompetition has been almost casually transformed into a model forinterpreting real macroeconomic behavior. After explainingmicroeconomic foundations, the authors introduce a better macromodel, one that can say useful things about the fluctuation ofemployment, the correlation between wages and employment, and therole for corrective monetary policy.
Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.
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Destinations, frais et délaisVendeur : Book House in Dinkytown, IOBA, Minneapolis, MN, Etats-Unis
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Hardcover. Etat : Near Fine. Etat de la jaquette : Near Fine. 1st Edition. First Edition. viii, 159 pp. Original cloth. Near Fine, in near fine dust jacket. Robert M. Solow: Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel, 1987, 'for his contributions to the theory of economic growth.' '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' (MIT Press Web site). 'Like the great debate between Einstein and Bohr on quantum physics, the debate between Hahn-Solow and Lucas's rational expectationism is a must for all serious students of macro. This is how scientific progress should be done -- by sober analysis rather than clever rhetoric or frenzied ideology' (Paul A. Samuelson). N° de réf. du vendeur 14250
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