Macroeconomics

The prices of farm products are crucial determinants of the extent of poverty and inequality in the world. The vast majority of the world's poorest households depend to a considerable extent on farming for their incomes, while food represents a large...

How has increasing economic integration at regional and global level affected the functioning of the global economy? What are the consequences of globalisation and regionalism for world trade, production processes and domestic economies? What kind of...

Although still relatively closed, the Euro area economy is nevertheless subject to a broad range of economic impacts originating from outside its borders. This book aims to improve our understanding of how, and to what extent, such external developments...

This succinct book provides a broad panorama of the key economic policy challenges facing the European Union today. The enlargement of the EU and its lacklustre performance over the last decade in terms of employment and productivity growth have prompted...

Following the birth of the European Monetary Union (EMU) economists are still divided in their assessment of the ability of its key institutions to provide macroeconomic stability and foster the reforms necessary to stimulate economic growth. In this...

How and for whose benefit the European Central Bank (ECB) will work is the most important issue facing Europe, and has been the subject of vast media and academic interest which has already spawned a vast literature of discussion papers in the academic...

Currency Competition and Foreign Exchange Markets by Philipp Hartmann of the European Central Bank is a major theoretical and empirical study of international currencies, which focuses on the role which the Euro will play in the international monetary...

The significant store of knowledge about publicly regulated pensions for old age has grown even more rapidly in the last decade. This book, first published in 1997, explores current research in four critical areas for pension policy: the political design...

Economists have developed models in which individuals form expectations of key variables in a 'rational' manner such that these expectations are consistent with actual economic environments. Professor Sheffrin first explores the logical foundation of the...

This book assembles nine papers on tax progressivity and its relationship to income inequality, written by leading public finance economists. The papers document the changes during the 1980s in progressivity at the federal, state, and local level in the...

Provides an in-depth treatment of the overlapping generations model in economics incorporating production. Chapter 1 investigates competitive equilibria and corresponding dynamics: existence and uniqueness of equilibrium, global dynamics of capital...

Although globalisation is seen by many as the key economic trend, restrictions on international capital movements remain the norm in international finance. In 1996, 144 out of 186 countries maintained capital controls (IMF). Yet the vast majority of...

Since the famous debate between Keynes and Ohlin on German reparation payments after World War I, international transfers have attracted the attention of economists. Today the subject is of even greater importance with billions of dollars flowing between...

First published in 2001, Causality in Macroeconomics addresses the long-standing problems of causality while taking macroeconomics seriously. The practical concerns of the macroeconomist and abstract concerns of the philosopher inform each other...

The evolution of private saving and its interaction with government fiscal policy play an important and complex role in the development of the national economy. To gain insight into this process, it is imperative that we improve our understanding of the...

Much research has been devoted to the consequences of the completion of the European internal market in 1992. Existing estimates of the effects of market integration remain exploratory, however, and many important issues have yet to be adequately...

The Maastricht Treaty, signed in December 1991, set a timetable for the European Community's economic and monetary union (EMU) and clearly defined the institutional policy changes necessary for its achievement. Subsequent developments have demonstrated,...

This 1991 book is a selection of Jacques Dreze's work over the last decade on the topics of lasting unemployment, stagflation and unused capacity. At the theoretical level, the author has contributed to the formulation and analysis of general equilibrium...

The period between the two World Wars was remarkable; mass unemployment, protectionism, diverse exchange rate regimes, the disintegration of world trade, poor growth prospects and high business cycle volatility. This comprehensive textbook surveys key...

Much research has been devoted to the consequences of the completion of the European internal market in 1992. Existing estimates of the effects of market integration remain exploratory, however, and many important issues have yet to be adequately...

This book from the Centre for Economic Policy Research (CEPR) deals with the implications of the exchange rate regimes and capital flows of the 1990s for government macroeconomic policy-making and EC policy co-ordination. Under the fixed exchange rates...

International Political Economy and Socialism, first published in 1991, is a revised and updated version of Professor Marie Lavigne's best seller Economie Internationale des Pays Socialistes. It is a useful revision in which she presents a comprehensive...

This 1991 book is a selection of Jacques Dreze's work over the last decade on the topics of lasting unemployment, stagflation and unused capacity. At the theoretical level, the author has contributed to the formulation and analysis of general equilibrium...

This book provides a special interest theory of protection, developing a full general equilibrium theory that explains the distribution of income with goods markets, factor markets, lobbies, political parties, and voters all pursuing their self interest...

This volume, based on a conference held by the Italian Macroeconomic Policy Group and the centre for Economic Policy Research, examines the issues raised by European monetary unification. An introduction describes recent monetary developments and...

Since the military coup d'etat in 1964 Brazil has experienced a period of almost uninterrupted inflation measured in tens and sometimes hundreds of per cent per year. In this book, originally published in 1991, Vincent Parkin sets out to explain the...

This book deals mainly with what can be described as the general-equilibrium approach to monetary theory. The author does not attempt an encyclopaedic treatment, rather Gale investigates the central problems and ideas in the development of topical...

Capital theory and dynamics are cornerstones for almost every branch of economics. Except in a fictional world where the economies of yesterday, today, and tomorrow are identical, issues of capital formation and dynamic behaviour must always arise...

The rational expectations revolution and other developments in economics (notably game theory) have fundamentally altered the application of optimal control theory to economic forecasting and planning. In particular, they have shown that economic systems...

This 1983 book is a wide-ranging study of the macroeconomic side of monetary theory. Traditional macroeconomics uses simple, aggregative models to analyse monetary and fiscal policy. Gale argues that we cannot do without it but also that it rarely...

Originally published in 2000, this book is in the tradition of non-market-clearing approaches to macrodynamic approaches. It builds a series of integrated disequilibrium growth models of increasing complexity, which display the economic interaction...

In this 1988 book, Iliana Zloch-Christy analyzes the causes and consequences of the massive Eastern European debt to the West accumulated in the 1970s. In assessing the region's convertible-currency debt problem, the author addresses five main issues:...

This volume collects the proceedings from a conference on the evolution and practice of central banking sponsored by the Central Bank Institute of the Federal Reserve Bank of Cleveland. The articles and discussants' comments in this volume largely focus...

Despite the successes achieved in liberalizing trade by multilateral trade negotiations sponsored by the World Trade Organization (WTO), numerous countries have separately negotiated preferential trade treaties with one another. Representing a...

Monetary union in Europe started in 1999. This book contains eleven papers and three review essays, which analyse a spectrum of empirical, theoretical, institutional and political aspects of the design and impact of fiscal policy in EMU. The contributors...

The enlargement that encompassed the accession of Greece in 1981 and of Spain and Portugal in 1986 significantly altered the balance of the European Community (EC), while the double shock of EC membership and 1992 could have driven the economies of the...

This book from the Centre for Economic Policy Research (CEPR) deals with the implications of the exchange rate regimes and capital flows of the 1990s for government macroeconomic policy-making and EC policy co-ordination. Under the fixed exchange rates...

Why countries choose different exchange rate arrangements and how these arrangements affect domestic monetary policy control and macroeconomic stability are questions of substantial interest to policy makers and researchers alike. The countries of the...

The success (and misfortunes) of the post-war Japanese economy has been one of the most debated points in modern economics. Many explanations focus on cultural and institutional factors, and in particular the role of 'Informality' (networks organizing...

The evolution of private saving and its interaction with government fiscal policy play an important and complex role in the development of the national economy. To gain insight into this process, it is imperative that we improve our understanding of the...