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Macroeconomic Theory And Macroeconomic Pedagogy paperback english - 15 Jun 2010 Details

Publisher
Palgrave MacMillan
ISBN 13
9780230277632
Book Description
This book aims to showcase and advance recent debates over the extent to which undergraduate macroeconomics teaching models adequately reflect the latest developments in the field. It contains 16 essays on topics including the 3-equation New Consensus model, extensions and alternatives to this model, and endogenous money and finance.
Editorial Review
The 2007/8 financial crisis starkly revealed the limitations of the three equation ''New Consensus'' macroeconomic model. This model abstracts by assumption from default and credit risk, and hence has no room for issues relating to financial intermediation and liquidity, a ''fair weather'' model. In this book the authors outline this and other drawbacks of the current mainstream model, and make a good start in amending this in ways which both come closer to reality and can be the basis for undergraduate teaching.' - Charles A.E. Goodhart, Emeritus Professor of Economics, and Member Financial Markets Group, London School of Economics (LSE, UK); former Bank of England's External Member, Monetary Policy Committee,UK
Language
English
Editor
Giuseppe Fontana, Mark Setterfield
Publication Date
15 Jun 2010
Number of Pages
341

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