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The Decentralized Economy, from Macroeconomic Theory: A Dynamic General Equilibrium Approach
[Macroeconomic Theory: A Dynamic General Equilibrium Approach]

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Author Info

  • Michael Wickens

    (University of York)

Abstract

Macroeconomic Theory is the most up-to-date graduate-level macroeconomics textbook available today. This book truly offers something new by emphasizing the general equilibrium character of macroeconomics to explain effects across the whole economy, not just part. It is also the perfect resource for economists who need to brush up on the latest developments. Michael Wickens lays out the core ideas of modern macroeconomics and its links with finance. He presents the simplest general equilibrium macroeconomic model for a closed economy, and then gradually develops a comprehensive model of the open economy. Every important topic is covered, including growth, business cycles, fiscal policy, taxation and debt finance, current account sustainability, exchange-rate determination, and an up-to-date account of monetary policy through inflation targeting. Wickens addresses the interrelationships between macroeconomics and modern finance and shows how they affect stock, bond, and foreign-exchange markets. While the mathematics needed for this book is rigorous, the author describes fundamental concepts in a way that helps make the book self-contained and easy to use. Accessible, comprehensive, and wide-ranging, Macroeconomic Theory will become the standard text for students and is ideal for economists, particularly those in government, central and commercial banking, and financial investment.

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Bibliographic Info

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This chapter was published in: Michael Wickens , , pages , 2008.

This item is provided by Princeton University Press in its series Introductory Chapters with number 8595-4.

Handle: RePEc:pup:chapts:8595-4

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Web page: http://press.princeton.edu

Related research

Keywords: macroeconomics; theory; general equilibrium; growth; business cycles; fiscal policy; taxation; debt finance; monetary policy; inflation targeting;

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Cited by:
  1. Luis Eduardo Arango & Nataly Obando & Carlos Esteban Posada, . "Los salarios reales a lo largo del ciclo económico en Colombia," Borradores de Economia 666, Banco de la Republica de Colombia.
  2. Gerlach, Stefan, 2009. "The risk of deflation," IMFS Working Paper Series 21, Institute for Monetary and Financial Stability (IMFS), Goethe University Frankfurt.
  3. Sergey Ivashchenko, 2014. "Forecasting In a Non-Linear DSGE Model," EUSP Deparment of Economics Working Paper Series Ec-02/14, European University at St. Petersburg, Department of Economics.

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