Stochastic dynamic macroeconomics

theory and empirical evidence

This is a book on stochastic dynamic macroeconomics from a Keynesian perpective. It shows that including Keynesian features in intertemporal models considerably contributes to resolve major puzzles arising in the context of the Dynamic General Equilibrium (DGE) model. It also demonstrates that including microeconomic intertemporal ...

The role of policymakers in business cycle fluctuations

The book's central theme is that a policymaker's role is to enhance the public's ability to co-ordinate their price information, price expectations, and economic activities. This role is fulfilled when policymakers maintain inflation stability. Inflation persists less when an implicit or explicit ...

Stochastic optimal control, international finance, and debt crises

This book focuses on the interaction between equilibrium real exchange rates, optimal external debt, endogenous optimal growth and current account balances, in a world of uncertainty. The theoretical parts result from interdisciplinary research between economics and applied mathematics. From the economic theory and the mathematics ...

Money, bank credit, and economic cycles

Can the market fully manage the money and banking sector? Jesús Huerta de Soto, professor of economics at the Universidad Rey Juan Carlos, Madrid, has made history with this mammoth and exciting treatise that it has and can again, without inflation, without business cycles, and ...

Japan's great stagnation

financial and monetary policy lessons for advanced economies

Experts on the Japanese economy examine Japan's prolonged period of economic underperformance, analyzing the ways in which the financial system, monetary policy, and international financial factors contributed to its onset and duration. After experiencing spectacular economic growth and industrial development for much of the ...

House prices and the macroeconomy

implications for banking and price stability

House price bubbles, and their aftermath, have become a focus of macro- economic policy concern in most developed countries. This book elucidates the two-way relationship between house-price fluctuations and economic fundamentals. Housing has many features which make it distinct from other assets, like equity. Real ...

Dynammic general equilibrium modelling

computational methods and applications

Ahead of the curve

a Commonsense guide to forecasting business and market cycles

Today's managers and investors are bombarded with so many conflicting economic reports and data that it seems impossible to know which way the market will turn until it's too late. Now, a thirty-five year "Wall Street" veteran enables managers and investors to stop ...

Teoría económica de las crisis monetarias y financieras y de los controles de capital

Implementing sustainable development

from global policy to local action

New directions in macromodelling

Estructura Input-Output y dinámica económica

Models for dynamic macroeconomics

This is a textbook for advanced students in macroeconomics. It provides a clear guide to the techniques and tools used in modern macroeconomic analysis without requiring advanced mathematical training. It covers the core topics of consumption and investment, employment and unemployment, and economic growth. Each ...

Understanding economic recovery in the 1930s

Endogenous propagation in the Great Depression

One of the watershed periods of the twentieth century, the Great Depression was the defining event for at least one generation of world citizenry. Although much has been written about the almost four-year economic collapse that began in mid-1929, very little has been written about ...

The new value controversy and the foundations of economics

The papers that comprise this collection introduce key advances in modern value theory. Equilibrium and non-equilibrium approaches are discussed alongside the theory behind abstract labour and money.

Monopoly capitalism in crisis

The world economy is on the brink of a profound crisis. The threat of global deflation and the emergence of chronic excess global capacity characterizes the contemporary phase of crisis and stagnation. Lucarelli argues that these pathological features of globalization acquire a remorseless logic during ...

What global economic crisis?

Economics has become an excessively esoteric discipline. Opportunities to bridge the gap between theorizing and policymaking are becoming increasingly limited. One issue of great importance to modern policymakers is the relationship between globalization and economic crisis. With unprecedented trends towards globalization (in part propelled by ...

General equilibrium, capital and macroeconomics

a key recent controversies in equilibrium theory

This book argues that the shift in general equilibrium theory, from its early long-period to the modern very-short-period versions, has had very important consequences which are insufficiently appreciated by large parts of the economics profession. This shift has produced new difficulties, and has undermined central ...

Business cycles and economic growth

an analysis using leading indicators

This volume is a collection of articles on business cycles from researchers across the globe, covering a wide spectrum of issues from forecasting, monitoring, and measurement of economic activity

Bailouts or bail-ins?

responding to financial crises in emerging economies

Roughly once a year, the managing director of the International Monetary Fund, the U.S. treasury secretary and in some cases the finance ministers of other G-7 countries will get a call from the finance minister of a large emerging market economy. The emerging market ...