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A Critical Essay on Modern Macroeconomic Theory by Frank Hahn and Robert Solow …
US $6.88
ApproximatelyS$ 8.96
Condition:
“Book is VERY FINE with light cover/corner/edge wear. Bright boards with crisp lettering at spine. ”... Read moreabout condition
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US $4.99 (approx S$ 6.50) USPS Media MailTM.
Located in: Murrieta, California, United States
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Estimated between Sat, 15 Nov and Tue, 18 Nov to 94104
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eBay item number:164158043470
Item specifics
- Condition
- Like New
- Seller Notes
- Country of Origin
- United States
- Book Title
- A Critical Essay on Modern Macroeconomic Theory
- Narrative Type
- Nonfiction
- Features
- 1st Edition, Dust Jacket, Illustrated
- Book Series
- n/a
- Modified Item
- No
- Intended Audience
- Adults
- Signed
- No
- Genre
- Business, Economics & Industry
- ISBN
- 9780262082419
About this product
Product Identifiers
Publisher
MIT Press
ISBN-10
0262082411
ISBN-13
9780262082419
eBay Product ID (ePID)
95884
Product Key Features
Number of Pages
168 Pages
Publication Name
Critical Essay on Modern Macroeconomic Theory
Language
English
Subject
Economics / Macroeconomics, Economics / General
Publication Year
1995
Type
Textbook
Subject Area
Business & Economics
Format
Hardcover
Dimensions
Item Height
0.7 in
Item Weight
13.6 Oz
Item Length
9.2 in
Item Width
6.3 in
Additional Product Features
Intended Audience
Scholarly & Professional
LCCN
95-040229
Dewey Edition
20
TitleLeading
A
Reviews
"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, Professor of Economics, M.I.T.
Illustrated
Yes
Dewey Decimal
339
Synopsis
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 alsohow 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., In the early 1980s, rational expectations and new classical economics dominated macroeconomic 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.
LC Classification Number
HB172.5.H34 1995
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