An examination of Liquidity Crunch in triggering and characterizing financial crises.
Since the subprime mortgage crisis that began in 2007, advanced economies have felt a nagging sense of insecurity. In parallel, the profession has witnessed phenomena that are alien to mainstream macroeconomic models. Financial crises are systemic, occurring simultaneously in different economies. In this book, Guillermo Calvo focuses on liquidity factors as a commonality in financial crises. Specifically, he examines the role of "liquidity crunch" in triggering crises. He also identifies a fundamental (but overlooked) idea in Keynes's General Theory, termed by Calvo the price theory of money, to rationalize the resiliency of the U.S. dollar when other dollar-backed assets suffered a devastating liquidity crunch.
Calvo shows that a sharp focus on liquidity reveals some characteristics of liquid assets that are easy to miss otherwise. He argues for liquidity's centrality, presenting what he calls the Liquidity Approach. He shows that simple extensions of standard monetary models help rationalize the implications of the liquidity crunch, and then examines slightly more technical models that highlight liquidity issues. He explores the empirical effects of liquidity crunch by studying systemic sudden stops (of capital inflows), presuming that they are triggered by liquidity crunch-type phenomena.
Автор: Musgrave Ph. D. Frank, Kacapyr Ph. D. Elia, Redels Название: Barron`s AP Microeconomics/Macroeconomics, 5th Edition ISBN: 1438004958 ISBN-13(EAN): 9781438004952 Издательство: Ingram Рейтинг: Цена: 15630.00 T Наличие на складе: Невозможна поставка. Описание: This in-depth preparation for both AP economics exams provides a detailed review of the newly revised test topics, including: supply and demand, theory of consumer choice, market structures, labor resources, game theory, national income and gross domestic product, inflation and unemployment, monetary policy, economic growth, international trade and exchange, interest rate determination, and much more. The book includes two full-length practice tests one in Microeconomics and one in Macroeconomics with all test questions answered and explained."
Автор: Obstfeld, Maurice Название: Foundations of International Macroeconomics ISBN: 0262150476 ISBN-13(EAN): 9780262150477 Издательство: MIT Press Рейтинг: Цена: 86900.00 T Наличие на складе: Нет в наличии. Описание:
Foundations of International Macroeconomics is an innovative text that offers the first integrative modern treatment of the core issues in open economy macroeconomics and finance. With its clear and accessible style, it is suitable for first-year graduate macroeconomics courses as well as graduate courses in international macroeconomics and finance. Each chapter incorporates an extensive and eclectic array of empirical evidence. For the beginning student, these examples provide motivation and aid in understanding the practical value of the economic models developed. For advanced researchers, they highlight key insights and conundrums in the field.
Topic coverage includes intertemporal consumption and investment theory, government spending and budget deficits, finance theory and asset pricing, the implications of (and problems inherent in) international capital market integration, growth, inflation and seignorage, policy credibility, real and nominal exchange rate determination, and many interesting special topics such as speculative attacks, target exchange rate zones, and parallels between immigration and capital mobility. Most main results are derived both for the small country and world economy cases. The first seven chapters cover models of the real economy, while the final three chapters incorporate the economy's monetary side, including an innovative approach to bridging the usual chasm between real and monetary models.
Автор: Burda Название: Macroeconomics 4/e ISBN: 0199264961 ISBN-13(EAN): 9780199264964 Издательство: Oxford Academ Цена: 44340.00 T Наличие на складе: Поставка под заказ. Описание: Provides an analysis of modern macroeconomics within both a European and a global context. This work contains theoretical approaches, along with reference to data and case study examples. It offers teaching and learning aids such as chapter overviews, summaries of key concepts, end of chapter exercises, and suggestions for further reading.
Автор: Krugman Paul Название: Macroeconomics, 5 ed. ISBN: 1319181953 ISBN-13(EAN): 9781319181956 Издательство: Macmillan Learning Рейтинг: Цена: 0.00 T Наличие на складе: Невозможна поставка. Описание: When it comes to explaining fundamental economic principles by drawing on current economic issues and events, there is no one more effective than Nobel laureate and New York Times columnist Paul Krugman and co-author, Robin Wells.
Автор: Krugman Paul, Wells Robin Название: Macroeconomics, 3rd edition ISBN: 1429283432 ISBN-13(EAN): 9781429283434 Издательство: Macmillan Цена: 62080.00 T Наличие на складе: Поставка под заказ. Описание: When it comes to explaining current economic conditions, there is no economist readers trust more than New York Times columnist and Nobel laureate Paul Krugman. Term after term, Krugman is earning that same level of trust in the classroom, with more and more instructors introducing students to the fundamental principles of economics via Krugman's signature storytelling style. The new Third Edition of Paul Krugman and Robin Wells's Economics is their most accomplished yet--extensively updated to offer new examples and stories, new case studies from the business world, and expert coverage of the ongoing financial crisis.
Watch a video interview of Paul Krugman here.
Автор: Romer David Название: Advanced Macroeconomics 4 edition ISBN: 0073511374 ISBN-13(EAN): 9780073511375 Издательство: McGraw-Hill Рейтинг: Цена: 74350.00 T Наличие на складе: Невозможна поставка. Описание: David Romer`s Advanced Macroeconomics, 4e, continues its tradition as the standard text and the starting point for graduate macroeconomic courses and helps lay the groundwork for students to begin doing research in macroeconomics and monetary economics. This well-respected and well-known text is unique in the marketplace.
Автор: Hoover Название: Applied Intermediate Macroeconomics ISBN: 1107436826 ISBN-13(EAN): 9781107436824 Издательство: Cambridge Academ Рейтинг: Цена: 49630.00 T Наличие на складе: Есть у поставщика Поставка под заказ. Описание: This textbook offers a complete course in applied macroeconomics at the intermediate level that emphasizes the application of economic theory to real-world data and policy. The text is unique in developing a detailed toolkit of elementary statistics and graphical techniques for economic data.
Автор: Mankiw N. Gregory Название: Macroeconomics 9th Revised edition ISBN: 1464182892 ISBN-13(EAN): 9781464182891 Издательство: Amazon Internet Рейтинг: Цена: 270600.00 T Наличие на складе: Невозможна поставка. Описание: An exceptionally clear and concise introduction to macroeconomics.
Автор: Vegh Carlos A Название: Open Economy Macroeconomics in Developing Countries ISBN: 026201890X ISBN-13(EAN): 9780262018906 Издательство: MIT Press Рейтинг: Цена: 118500.00 T Наличие на складе: Есть у поставщика Поставка под заказ. Описание:
A comprehensive and rigorous text that shows how a basic open economy model can be extended to answer important macroeconomic questions that arise in emerging markets.
This rigorous and comprehensive textbook develops a basic small open economy model and shows how it can be extended to answer many important macroeconomic questions that arise in emerging markets and developing economies, particularly those regarding monetary, fiscal, and exchange rate issues. Eschewing the complex calibrated models on which the field of international finance increasingly relies, the book teaches the reader how to think in terms of simple models and grasp the fundamentals of open economy macroeconomics.
After analyzing the standard intertemporal small open economy model, the book introduces frictions such as imperfect capital markets, intertemporal distortions, and nontradable goods, into the basic model in order to shed light on the economy's response to different shocks. The book then introduces money into the model to analyze the real effects of monetary and exchange rate policy. It then applies these theoretical tools to a variety of important macroeconomic issues relevant to developing countries (and, in a world of continuing financial crisis, to industrial countries as well), including the use of a nominal interest rate as a main policy instrument, the relative merits of flexible and predetermined exchange rate regimes, and the targeting of "real anchors." Finally, the book analyzes in detail specific topics such as inflation stabilization, "dollarization," balance of payments crises, and, inspired by recent events, financial crises. Each chapter includes boxes with relevant empirical evidence and ends with exercises. The book is suitable for use in graduate courses in development economics, international finance, and macroeconomics.
Автор: Hoover Название: Applied Intermediate Macroeconomics ISBN: 0521763886 ISBN-13(EAN): 9780521763882 Издательство: Cambridge Academ Рейтинг: Цена: 66530.00 T Наличие на складе: Есть у поставщика Поставка под заказ. Описание: This textbook offers a complete course in applied macroeconomics at the intermediate level that emphasizes the application of economic theory to real-world data and policy. The text is unique in developing a detailed toolkit of elementary statistics and graphical techniques for economic data.
Автор: Chugh Sanjay K. Название: Modern Macroeconomics ISBN: 0262029375 ISBN-13(EAN): 9780262029377 Издательство: MIT Press Рейтинг: Цена: 112860.00 T Наличие на складе: Невозможна поставка. Описание:
A textbook that approaches modern macroeconomics through its microeconomic foundations, with an emphasis on financial market connections and policy applications.
The modern study and analysis of macroeconomics begins by considering how microeconomic units -- consumers and firms -- make decisions, and then investigates how these choices interact to yield economy-wide outcomes. This innovative textbook takes this "modern" approach, teaching macroeconomics through its microeconomic foundations. It does so by adopting the representative agent paradigm. By modeling the representative consumer and the representative firm, students will learn to describe macroeconomic outcomes and consider the effects of macroeconomic policies. Unique in its coverage of monopolistic competition, financial markets, and the interaction of fiscal and monetary policy, Modern Macroeconomics is suitable for use in intermediate undergraduate, advanced undergraduate, and graduate level courses.
The book first introduces the building blocks of macroeconomics, the heart of which is the representative consumer. It goes on to offer a brief history of macroeconomic thought, including supply-side economics, the Phillips curve, and the New Keynesian framework. It then covers two policy applications, monetary policy and the interaction of monetary and fiscal policy; optimal policy analysis for both the flexible price and the rigid price case; long-run steady states, treating the Solow growth framework and the neoclassical growth model; a search-and-matching framework for the analysis of unemployment; and the application of the tools of modern macroeconomics to "open economy," or international macroeconomics. End-of-chapter problem sets enable students to apply the concepts they have learned. A separate Solutions Manual will be available for students to purchase. Teaching materials, including complete solutions and slides, will be available to qualified instructors.
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