Macroeconomic Policy Since the Financial Crisis

Dr Matteo Iannizzotto (Durham University)

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English

Agenda Publishing
03 October 2023

Public administration; Economic theory & philosophy; Macroeconomics; Monetary economics

Economic policymakers use various macroeconomic models, but how reliable are they in real-world conditions? Starting from the premise that all models are wrong, but some are useful, Matteo Iannizzotto introduces and explains the workings of the key economic models available for policymaking. He shows that the inconsistencies and contradictions evident in the real world require the economist to make choices about which models to adopt in certain circumstances and when not to rigidly adhere to a single approach.

The book uses a clear and critical step by step analysis to consider the strengths and weaknesses of each model, in a way that enables students to develop their own critical engagement with macroeconomic policymaking. In so doing, the book provides an understanding of the world economy's fluctuations since the global financial crisis that embraces the uncomfortable fact that inconsistency and the need for a multiplicity of models is central to macroeconomic policy choices.

For the many students bewildered by the disconnect between the models in their textbooks and the policy choices so hotly debated in the press, the book will be essential reading.

By: Dr Matteo Iannizzotto (Durham University)
Imprint: Agenda Publishing
Country of Publication: United Kingdom
Dimensions: Height: 240mm, Width: 170mm, Spine: 18mm
ISBN: 9781788216555
ISBN 10: 1788216555
Pages: 240
Publication Date: 03 October 2023
Audience: College/higher education , Professional and scholarly , Primary , Undergraduate
Format: Paperback
Publisher's Status: Active

1. The three equations model 2. Behind the three equations 1: the monetary rule and the IS curve 3. Behind the three equations 2: inflation and the Phillips curve 4. Expectations 5. The financial crisis of 2007/08 6. Financial instability 7. The open economy 8. Fiscal policy 9. Broken shards of fiscal policy. 10 Ambiguities and problems

Matteo Iannizzotto is Associate Professor in Macroeconomics at Durham University. His books include Post-Keynesian Theory Revisited (Agenda, 2020).

Reviews for Macroeconomic Policy Since the Financial Crisis

At last, a textbook that is willing to confront the messiness of macroeconomic policymaking. For undergraduates who expect to find clear links between what policymakers do and what economic theorizing suggests, this is the biggest step-change in the literature for a long time. It deserves to be widely read. -- Peter Howells, Emeritus Professor of Monetary Economics, UWE, Bristol