Advanced Macroeconomics

5th Auflage
ISBN: 978-1-260-18521-8
Verlag: McGraw Hill LLC

Buch, Englisch, 800 Seiten, Format (B × H): 169 mm x 238 mm, Gewicht: 1199 g

The fifth edition of Romer's Advanced Macroeconomics continues its tradition as the standard text and the starting point for graduate macroeconomics courses and helps lay the groundwork for students to begin doing research in macroeconomics and monetary economics. Romer presents the major theories concerning the central questions of macroeconomics. The theoretical analysis is supplemented by examples of relevant empirical work, illustrating the ways that theories can be applied and tested. In areas ranging from economic growth and short-run fluctuations to the natural rate of unemployment and monetary policy, formal models are used to present and analyze key ideas and issues.

WHAT'S CHANGED

A new chapter, "Financial Markets and Financial Crises" (Chapter 10), that covers the role of financial markets in balancing saving and investment and sharing risk; investment in the presence of financial-market imperfections and the financial accelerator; the possibility of departures of asset prices from fundamentals and excess volatility in asset prices; the classic Diamond-Dybvig model of bank runs; and financial contagion.
Even more so than other chapters, the new chapter has a heavy empirical focus, with an emphasis on the use of microeconomic evidence to shed light on macroeconomic questions.
Three new sections: the zero lower bound (Chapter 12), the analysis of the buffer-stock model of saving using dynamic programming (Chapter 8), and the forward guidance puzzle (Chapter 7).

The book continues to use the end-of-chapter problems to introduce important extensions and applications of the core topics. Among the subjects addressed by problems that are new in the fifth edition are issues raised by Thomas Piketty's recent work, a semi-endogenous version of Paul Romer's classic model of endogenous technological change, and the use of numerical methods to solve dynamic-programming problems.

Autoren/Hrsg.

Romer, David

Fachgebiete

• Wirtschaftswissenschaften Betriebswirtschaft Betriebswirtschaft: Theorie & Allgemeines

Inhaltsverzeichnis

Chapter 1: The Solow Growth Model
Chapter 2: Infinite-Horizon and Overlapping-Generations Models
Chapter 3: Endogenous Growth
Chapter 4: Cross-Country Income Differences
Chapter 5: Real-Business-Cycle Theory
Chapter 6: Nominal Rigidity
Chapter 7: Dynamic Stochastic General-Equilibrium Models of Fluctuations
Chapter 8: Consumption
Chapter 9: Investment
Chapter 10: Financial Markets and Financial Crises
Chapter 11: Unemployment
Chapter 12: Monetary Policy
Chapter 13: Budget Deficits and Fiscal Policy

Über Autor(innen)

Romer, David
David Romer is the Royer Professor in Political Economy at the University of California, Berkeley, where he has been on the faculty since 1988. He is also co-director of the program in Monetary Economics at the National Bureau of Economic Research. He received his A.B. from Princeton University and his Ph.D. from the Massachusetts Institute of Technology. He has been a fellow of the American Academy of Arts and Sciences since 2006. At Berkeley, he is a three-time recipient of the Graduate Economic Associations distinguished teaching and advising awards; he received Berkeleys Social Sciences Distinguished Teaching Award in 2013 2014. Much of his research focuses on monetary and fiscal policy; this work considers both the effects of policy on the economy and the determinants of policy. His other research interests include the foundations of price stickiness, empirical evidence on economic growth, and asset-price volatility. His most recent work is concerned with financial crises. He is married to Christina Romer, with whom he frequently collaborates. They have three children, Katherine, Paul, and Matthew.