Macroeconomic Fluctuations and Policies

Edouard Challe (Ecole Polytechnique), Susan Emanuel

$280

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English

MIT Press
19 September 2023

Macroeconomics

The basic tools for analyzing macroeconomic fluctuations and policies, applied to concrete issues and presented within an integrated New Keynesian framework.

The basic tools for analyzing macroeconomic fluctuations and policies, applied to concrete issues and presented within an integrated New Keynesian framework.

This textbook presents the basic tools for analyzing macroeconomic fluctuations and policies and applies them to contemporary issues. It employs a unified New Keynesian framework for understanding business cycles, major crises, and macroeconomic policies, introducing students to the approach most often used in academic macroeconomic analysis and by central banks and international institutions. The book addresses such topics as how recessions and crises spread; what instruments central banks and governments have to stimulate activity when private demand is weak; and what ""unconventional"" macroeconomic policies might work when conventional monetary policy loses its effectiveness (as has happened in many countries in the aftermath of the Great Recession.).

The text introduces the foundations of modern business cycle theory through the notions of aggregate demand and aggregate supply, and then applies the theory to the study of regular business-cycle fluctuations in output, inflation, and employment. It considers conventional monetary and fiscal policies aimed at stabilizing the business cycle, and examines unconventional macroeconomic policies, including forward guidance and quantitative easing, in situations of ""liquidity trap""-deep crises in which conventional policies are either ineffective or have very different effects than in normal time.

This book is the first to use the New Keynesian framework at the advanced undergraduate level, connecting undergraduate learning not only with the more advanced tools taught at the graduate level but also with the large body of policy-oriented research in academic journals. End-of-chapter problems help students master the materials presented.

By: Edouard Challe (Ecole Polytechnique)
Translated by: Susan Emanuel
Imprint: MIT Press
Country of Publication: United States
Dimensions: Height: 229mm, Width: 178mm,
Weight: 454g
ISBN: 9780262549295
ISBN 10: 0262549298
Pages: 360
Publication Date: 19 September 2023
Recommended Age: From 18 to 99 years
Audience: College/higher education , Primary
Format: Paperback
Publisher's Status: Active

Edouard Challe is Professor of Economics at Ecole Polytechnique and Director of Research at CNRS (the French National Center for Scientific Research).

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Macroeconomic Fluctuations and Policies

Edouard Challe (Ecole Polytechnique), Susan Emanuel

$280

Paperback

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