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Full Description
Olivier Blanchard, former chief economist of the International Monetary Fund (IMF), is author of one of the most important standard macroeconomics textbooks, which is used throughout the world. Endorsed by Blanchard himself, Anti-Blanchard Macroeconomics critically analyzes prevailing economic theory and policy in comparison with alternative approaches. This thoroughly revised edition represents a field of research that has developed through intense theoretical debates, continual empirical testing and the resultant disputes about economic policy.
Emiliano Brancaccio and Andrea Califano succinctly explore the relationship between theoretical models and economic policies, providing readers with examples and empirical exercises, and showing how the conclusions of different theories can be empirically tested. This updated second edition examines the links between the issues at the core of macroeconomic debate, including economic growth, economic crises, labour market reforms, government debt sustainability, the behaviour of central banks and the stock market, among many others.
Key features:
Contains an analysis of the economic policies, consequences and theories surrounding the Covid-19 pandemic
Examines the connection between contemporary issues in world politics, economic theory and policymaking
It overcomes the typical contradiction between the opportunity to offer students a preliminary mainstream education and the need to nurture rather than crush their critical spirit
It helps students to understand that economics is not a discipline that changes in a smooth, linear manner but, on the contrary, represents a dynamic field of research that develops through intense theoretical debate and continual empirical testing, and is shaped by the resultant disputes concerning economic policy
Includes the typescript of a lively and informative debate between Emiliano Brancaccio and Olivier Blanchard, together with comparative economic policy examples.
Contents
Contents: Presentation to the first edition Mauro Gallegati Preface to the first edition Robert Skidelsky 1. Introduction 2, Blanchard's AS-AD model 3. The alternative model 4. Blanchard's "new approach": the IS-LM-PC model 5. The competing approaches: theory and policy Appendix 1 Labour flexibility and unemployment Appendix 2 Contractionary fiscal policy and fiscal multipliers Appendix 3 On the pandemic trade-off between health and
production Index
