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| bernanke macroeconomics: Modern Macroeconomics Brian Snowdon, Howard R. Vane, 2005-01-01 Snowdon and Vane s book is extremely welcome. Indeed the authors examine, compare, and evaluate the evolution of the major rival stories comprising contemporary macroeconomic thought, but they also trace the development and interaction of key events and ideas as they occurred in the last century. Interviews with leading economists, one or two at the end of each chapter, also greatly help to shed light on this complexity. . . In sum, this is book which is very difficult to put down. Alessio Moneta, Journal of the History of Economic Thought It is not difficult to understand why this volume commands high praise from macroeconomic theorists, practitioners and teachers. It contains many interesting features that make it an excellent companion for both students and teachers of tertiary level macroeconomics. . . The authors present the material in a way that conveys to readers that macroeconomics is a living science , continually developing and still open to debate, controversy and competing policy prescriptions. In this respect it is a book that ought to be required reading for all teachers of the subject. It is also a valuable source of background reading for professional economists involved with economic policy making. Economic Outlook and Business Review . . . a wonderful history of macroeconomic thought from Keynes to the present, with an outstanding bibliography. It should be useful to undergraduates and graduate students as well as professional economists. Highly recommended. Steven Pressman, Choice Brian Snowdon and Howard Vane are well-known for their astute understanding of the main macroeconomic schools of thought and their skilled use of interviews with major figures. Here, they deploy a depth of scholarship in explaining the different schools and their key points of departure from one another. This book will be particularly useful to students looking for a clear, non-technical explanation of the main approaches to macroeconomics. Patrick Minford, Cardiff University, UK There are two steps to learning macroeconomics. First, to see it as it is today. Second, to understand how it got there: to understand the right and the wrong turns, the hypotheses that proved false, the insights that proved true, and the interaction of events and ideas. Only then, does one truly understand macroeconomics. This book is about step two. It does a marvellous job of it. The presentation is transparent, the interviews fascinating. You will enjoy, and you will learn. Olivier Blanchard, Massachusetts Institute of Technology, US In 40 years of teaching macroeconomics, there has been just one textbook that I have assigned year after year after year, namely, A Modern Guide to Macroeconomics by Snowdon, Vane and Wynarczyk. That altogether admirable book made clear to students what were, and are, the main intellectual issues in macroeconomics and did so with just enough formal modeling to avoid distortion by over-simplification. That book is now ten years old and the debate in macro has moved on. So there is good reason to welcome Snowdon and Vane back with this superb updated version. Axel Leijonhufvud, University of Trento, Italy This outstanding book avoids the narrow scope of most textbooks and provides an excellent guide to an unusually broad range of ideas. Thomas Mayer, University of California, Davis, US More than a decade after the publication of the critically acclaimed A Modern Guide to Macroeconomics, Brian Snowdon and Howard Vane have produced a worthy successor in the form of Modern Macroeconomics. Thoroughly extended, revised and updated, it will become the indispensable text for students and teachers of macroeconomics in the new millennium. The authors skilfully trace the origins, development and current state of modern macroeconomics from an historical perspective. They do so by thoroughly appraising the central tenets underlying the main competing schools of macroeconomic thought as well as their diverse policy imp |
| bernanke macroeconomics: Study Guide for Macroeconomics Andrew B. Abel, Dean Croushore, Ben S. Bernanke, 2010-06-25 |
| bernanke macroeconomics: Macroeconomics Andrew B. Abel, Ben Bernanke, Dean Croushore, 2013-03-08 Abel, Bernanke, and Croushore present macroeconomic theory in a way that prepares students to analyze real macroeconomic data used by policy makers and researchers. With a balanced treatment of both classical and Keynesian economics, the comprehensive coverage makes it easy for instructors to align chapters to fit their own syllabi. Students in this course often struggle to see how the macroeconomic models compare to one another, and fit into the big picture. This text uses a unified approach based on a single economics model that provides students with a clear understanding of macroeconomics and its classical and Keynesian assumptions. The main objective of the eighth edition is to keep the book fresh and up-to-date, especially in light of the recent crises in the United States and Europe and many new tools used by the Federal Reserve in response to the crisis. To reflect recent events and developments in the field, revisions have been made throughout the text, and additional new applications, boxes, and problems are included. |
| bernanke macroeconomics: Handbook of Macroeconomics John B. Taylor, Michael Woodford, 1999-12-13 Part 6: Financial Markets and the Macroeconomy. 19. Asset prices, consumption, and the business cycle (J.Y. Campbell). 20. Human behavior and the efficiency of the financial system (R.J. Shiller). 21. The financial accelerator in a quantitative business cycle framework (B. Bernanke, M. Gertler and S. Gilchrist). Part 7: Monetary and Fiscal Policy. 22. Political economics and macroeconomic policy (T. Persson, G. Tabellini). 23. Issues in the design of monetary policy rules (B.T. McCallum). 24. Inflation stabilization and BOP crises in developing countries (G.A. Calvo, C.A. Vegh). 25. Government debt (D.W. Elmendorf, N.G. Mankiw). 26. Optimal fiscal and monetary policy (V.V. Chari, P.J. Kehoe). |
| bernanke macroeconomics: Essays on the Great Depression Ben S. Bernanke, 2024-01-09 From the Nobel Prize–winning economist and former chair of the U.S. Federal Reserve, a landmark book that provides vital lessons for understanding financial crises and their sometimes-catastrophic economic effects As chair of the U.S. Federal Reserve during the Global Financial Crisis, Ben Bernanke helped avert a greater financial disaster than the Great Depression. And he did so by drawing directly on what he had learned from years of studying the causes of the economic catastrophe of the 1930s—work for which he was later awarded the Nobel Prize. Essays on the Great Depression brings together Bernanke’s influential work on the origins and economic lessons of the Depression, and this new edition also includes his Nobel Prize lecture. |
| bernanke macroeconomics: Ben Bernanke's Fed Ethan S. Harris, 2008 Ben Bernanke's swearing in as Federal Reserve chairman in 2006 marked the end of Alan Greenspan's long, legendary career. To date, the new chair has garnered mixed reviews. Business economists see him as the best-qualified successor to Greenspan, while many traders and investors worry that he's too academic for the job. Meanwhile, many ordinary Americans do not even know who he is. How will Bernanke's leadership affect the Fed's actions in the coming years? How will Bernanke build on Greenspan's success, but also put his own stamp on the Fed? What will all this imply for businesses and investors? In Ben Bernanke's Fed, Ethan Harris provides exceptional insights into these crucial issues. As a leading Fed watch economist, Harris draws on Bernanke's academic research, his speeches as a governor of the Fed, and his first two years on the job to shed light on: · How the Federal Reserve analyzes and manages the economy using a synthesis of classical and Keynesian theory · Bernanke's strategies for fighting inflation · The implications of the new chair's remarkably plain-spoken style · How Bernanke has cultivated diverse viewpoints but still builds consensus within the Fed Engaging and discerning, this book demystifies the man who has stepped into what many describe as the second most powerful job in America. |
| bernanke macroeconomics: Handbook of Macroeconomics Michael Woodford, 1999 |
| bernanke macroeconomics: Rethinking Macroeconomics John F. McDonald, 2021-09-12 Macroeconomics has always played host to contesting schools of thought, but recent events have exacerbated those differences. To fully understand the subject, students need to be aware of these controversies. Rethinking Macroeconomics: A History of Economic Thought Perspective introduces students to the key schools of thought, equipping them with the knowledge needed for a true understanding of today’s economy. The text guides the reader through multiple approaches to macroeconomic analysis before presenting the data for several critical economic episodes, all in order to explore which analytical method provides the best explanation for each event. It covers key background information on topics such as the basics of supply and demand, macroeconomic data, international trade and the balance of payments, the creation of the money supply, and the global financial crisis. This anticipated second edition contains new chapters on Modern Monetary Theory, the Japanese economy, the European Union, and the COVID-19 crisis, bringing the story up to date and broadening the international coverage. Offering the context that is missing from existing introductory textbooks, this work encourages students to think critically about received economic wisdom. This is the ideal complement to any introductory macroeconomics textbook and is ideally suited for undergraduate students who have completed a principles of economics course. The book is fully supported with additional online resources, which include lecture slides and an instructor manual. |
| bernanke macroeconomics: EBOOK: Advanced Macroeconomics ROMER, 2018-02-22 EBOOK: Advanced Macroeconomics |
| bernanke macroeconomics: The Federal Reserve and the Financial Crisis Ben Bernanke, 2015-02-22 In 2012, Ben Bernanke, chairman of the U.S. Federal Reserve, gave a series of lectures about the Federal Reserve and the 2008 financial crisis, as part of a course at George Washington University on the role of the Federal Reserve in the economy. He revealed important background and insights into the central bank's crucial actions during the worst financial crisis since the Great Depression, and offers insight into the guiding principles behind the Fed's activities and the lessons to be learned from its handling of recent economic challenges. |
| bernanke macroeconomics: An Introduction to Macroeconomics Louis-Philippe Rochon, Sergio Rossi, 2021-03-26 The second edition of this important textbook introduces students to the fundamental ideas of heterodox economics. It is written in a clear way by top heterodox scholars. This introductory book offers not only a critique of the dominant approach to economics, but also presents a positive and constructive alternative. Students interested in an explanation of the real world will find the heterodox approach not only satisfying, but ultimately better able to explain a money-using economy prone to periods of instability and crises. |
| bernanke macroeconomics: New Paradigm in Macroeconomics R. Werner, 2005-03-21 Modern mainstream economics is attracting an increasing number of critics of its high degree of abstraction and lack of relevance to economic reality. Economists are calling for a better reflection of the reality of imperfect information, the role of banks and credit markets, the mechanisms of economic growth, the role of institutions and the possibility that markets may not clear. While it is one thing to find flaws in current mainstream economics, it is another to offer an alternative paradigm which, can explain as much as the old, but can also account for the many 'anomalies'. That is what this book attempts. Since one of the biggest empirical challenges to the 'old' paradigm has been raised by the second largest economy in the world - Japan - this book puts the proposed 'new paradigm' to the severe test of the Japanese macroeconomic reality. |
| bernanke macroeconomics: 微观经济学原理(第2版)(清华经济学系列英文版教材) Robert H. Frank, 2004 |
| bernanke macroeconomics: Evolution or Revolution? Olivier Blanchard, Lawrence H. Summers, 2019-04-16 Leading economists discuss post–financial crisis policy dilemmas, including the dangers of complacency in a period of relative stability. The Great Depression led to the Keynesian revolution and dramatic shifts in macroeconomic theory and macroeconomic policy. Similarly, the stagflation of the 1970s led to the adoption of the natural rate hypothesis and to a major reassessment of the role of macroeconomic policy. Should the financial crisis and the Great Recession lead to yet another major reassessment, to another intellectual revolution? Will it? If so, what form should it, or will it, take? These are the questions taken up in this book, in a series of contributions by policymakers and academics. The contributors discuss the complex role of the financial sector, the relative roles of monetary and fiscal policy, the limits of monetary policy to address financial stability, the need for fiscal policy to play a more active role in stabilization, and the relative roles of financial regulation and macroprudential tools. The general message is a warning against going back to precrisis ways—to narrow inflation targeting, little use of fiscal policy for stabilization, and insufficient financial regulation. Contributors David Aikman, Alan J. Auerbach, Ben S. Bernanke, Olivier Blanchard, Lael Brainard, Markus K. Brunnermeier, Marco Buti, Benoît Cœuré, Mario Draghi, Barry Eichengreen, Jason Furman, Gita Gopinath, Pierre-Olivier Gourinchas, Andrew G. Haldane, Philipp Hildebrand, Marc Hinterschweiger, Sujit Kapadia, Nellie Liang, Adam S. Posen, Raghuram Rajan, Valerie Ramey, Carmen Reinhart, Dani Rodrik, Robert E. Rubin, Jay C. Shambaugh, Tharman Shanmugaratnam, Jeremy C. Stein, Lawrence H. Summers |
| bernanke macroeconomics: Macroeconomic Theory Jean-Pascal Benassy, 2011-05-12 This graduate textbook is a primer in macroeconomics. It starts with essential undergraduate macroeconomics and develops in a simple and rigorous manner the central topics of modern macroeconomic theory including rational expectations, growth, business cycles, money, unemployment, government policy, and the macroeconomics of nonclearing markets. The emphasis throughout the book is on both foundations and presenting the simplest model for each topic that will deliver the relevant answers. The first two chapters recall the main workhorses of undergraduate macroeconomics: the Solow-Swan growth model, the Keynesian IS-LM model, and the Phillips curve. The next chapters present four fundamental building blocks of modern macroeconomics: rational expectations, intertemporal dynamic models, nonclearing markets and imperfect competition, and uncertainty. Later the book deals with growth, notably the Ramsey model, overlapping generations, and endogenous growth. Chapter 10 moves to the famous real business cycles (RBC), which integrate in a unified framework growth and fluctuations. The final chapters look at the issue of stabilization, how best to guard the economy from shocks, and the connections between politics and the macroeconomy. To make the book self contained, a mathematical appendix gives a number of simple technical results that are sufficient to follow the formal developments of the book. |
| bernanke macroeconomics: Principles of Microeconomics 2e Steven A. Greenlaw, David Shapiro, Timothy Taylor, 2017-09-15 |
| bernanke macroeconomics: A Modern Guide to Keynesian Macroeconomics and Economic Policies Eckhard Hein, Engelbert Stockhammer, 2011-01-01 This well-documented book will prove to be the essential guide for researchers and graduate students in macroeconomics and political economy. It will also prove inspiring to a wider audience interested in modern Keynesian macroeconomics. |
| bernanke macroeconomics: Principles of Macroeconomics Ben Bernanke, Nilss Olekalns, Robert H. Frank, 2014 Principles of Macroeconomics provides a rigorous and theoretical treatment of concepts in an easy-to-follow and logical format. This fourth edition is fully up-to-date with all the latest relevant theories, figures and, data including a brand new chapter on macroeconomic policy (Chapter 10).The authors introduce a coherent short list of core principles and reinforce them by illustrating and applying each in numerous contexts. With engaging questions, explanations and exercises, the authors help students relate economic principles to a host of everyday experiences such as going to the ATM or purchasing airline tickets. Throughout this process, the authors encourage students to think like an economist and to and employ basic economic principles to understand and explain what they observe in the world around them. This approach engages student interest while teaching them to see each feature of their economic landscape as the reflection of an implicit or explicit cost-benefit calculation.Principles of Macroeconomics is accompanied by market leading interactive resources including graphing tutorials, logic cases, video cases, and quizzes to enable students to master concepts in an engaging way.LearnSmart adaptive technology is available for the first time with this edition! LearnSmart maximises learning productivity and efficiency by identifying the most important learning objectives for each student to master at a given point in time. It knows when students are likely to forget specific information and revisits that content to advance knowledge from their short-term to long-term memory. Data driven reports highlight the concepts individual students - or the entire class are struggling with. LearnSmart is proven to improve academic performance - including higher retention rates and better grades. |
| bernanke macroeconomics: Macroeconomics Andrew B. Abel, Ben Bernanke, 2001 Intermediate Macroeconomics. This text is the most even-handed and comprehensive treatment of the competing classical and Keynesian approaches in the market. By starting with topics on which the two approaches agree, the book highlights the common ground between them and then clearly presents the outstanding differences within the context of a single framework. Macroeconomics now includes a password that gives students access to a special edition of The Conference Board's Business Cycle Indicators database containing over 100 hand-picked data series. Accompanying exercises in the text provide a unique opportunity for students to analyze the very data that policy makers, professional economists, and government officials rely on in their day-to-day work. *NEW! Earlier presentation of business cycles. *NEW! Included are new EOC problems (including the Conference Board exercises), many new applications, and new built- in Web links. *NEW! Web site features, including: *Up-to-date version of The Conference Board's Business Cycle Indicators, which students can access to complete the new Conference Board problems at the end of the text chapters. *Sample worked problems. * Self-test quizzes |
| bernanke macroeconomics: Debates in Macroeconomics from the Great Depression to the Long Recession Arie Arnon, 2022-05-06 This book assesses major schools of thought in macroeconomic theory between the Great Depression and the Long Recession, focusing on their analysis of cycles, crises and macro-policy. It explores the road from the dominance of Keynesian ideas to those of New Classical Macroeconomics (NCM) toward the end of the millennium. The book covers the early influential work of Knut Wicksell; the economic debates of the 1930s, with core contributions from John Maynard Keynes and Friedrich von Hayek; the rise of Keynesianism in the 1950s and its decline since the 1970s; the rise of Monetarism in the 1960s; and NCM’s subsequent rise to prominence. Finally, the book outlines how macroeconomics has evolved from its birth in the 1930s as a theory separate from microeconomics, resulting in a split between macro- and micro-theories, and ended up with a new hegemonic paradigm based on microfoundations. The ensuing policy thinking witnessed a transformation from active macro-policy after the Great Depression to a far more passive macro-policy during the last quarter of the twentieth century, which may have contributed to missing the signs of the impending Long Recession of 2008. “When the 2008 crisis struck, macroeconomists were caught with models that were theoretically elegant yet inappropriate to the needs of the moment. A broader historical perspective may have prevented the jettisoning of Keynesian models that had proved useful in the past and might have done so again. This highly readable book by Arie Arnon is a wonderful antidote to economists’ short time horizon and contributes mightily to restore the profession’s “collective memory” of the diversity of ideas within macroeconomics.” Professor Dani Rodrik, Harvard Kennedy School |
| bernanke macroeconomics: The Inflation-Targeting Debate Ben S. Bernanke, Michael Woodford, 2007-11-01 Over the past fifteen years, a significant number of industrialized and middle-income countries have adopted inflation targeting as a framework for monetary policymaking. As the name suggests, in such inflation-targeting regimes, the central bank is responsible for achieving a publicly announced target for the inflation rate. While the objective of controlling inflation enjoys wide support among both academic experts and policymakers, and while the countries that have followed this model have generally experienced good macroeconomic outcomes, many important questions about inflation targeting remain. In Inflation Targeting, a distinguished group of contributors explores the many underexamined dimensions of inflation targeting—its potential, its successes, and its limitations—from both a theoretical and an empirical standpoint, and for both developed and emerging economies. The volume opens with a discussion of the optimal formulation of inflation-targeting policy and continues with a debate about the desirability of such a model for the United States. The concluding chapters discuss the special problems of inflation targeting in emerging markets, including the Czech Republic, Poland, and Hungary. |
| bernanke macroeconomics: The Macroeconomic Theory of Exchange Rate Crises Giovanni Piersanti, 2012-04-26 An overview of the causes and consequences of speculative attacks on domestic currency and international financial turmoil. It provides a comprehensive treatment of the existing theories of exchange rate crises and of financial market runs. |
| bernanke macroeconomics: Macroeconomics and the Real World: Volume 2: Keynesian Economics, Unemployment, and Policy Roger E. Backhouse, Andrea Salanti, 2000-11-23 Since the middle of twentieth century, economists have invested great resources into using statistical evidence to relate macroeconomic theories to the real world, and many new econometric techniques have been employed. In these two volumes, a distinguished group of economic theorists, econometricians, and economic methodologists examine how evidence has been used and how it should be used to understand the real world. Volume 1 focuses on the contribution of econometric techniques to understanding the macroeconomic world. It covers the use of evidence to understand the business cycle, the operation of monetary policy, and economic growth. A further section offers assessments of the overall impact of recent econometric techniques such as cointegration and unit roots. Volume 2 focuses on the labour market and economic policy, with sections covering the IS-LM model, the labour market, new Keynesian macroeconomics, and the use of macroeconomics in official documents (in both the USA and EU). These volumes will be valuable to advanced undergraduates, graduate students, and practitioners for their clear presentation of opposing perspectives on macroeconomics and how evidence should be used. The chapters are complemented by discussion sections revealing the perspectives of other contributors on the methodological issues raised. |
| bernanke macroeconomics: NBER Macroeconomics Annual 1996 Ben S. Bernanke, Julio Rotemberg, 1997-02 This is the eleventh volume in a series of annuals from the National Bureau of Economic Research that are designed to present, extend, and apply frontier work in macroeconomics, and to encourage and stimulate work by macroeconomists on current policy issues. These contributions offer a good sample of the current issues and exciting research directions in macroeconomics. Contents Credit, Business Investment, and Output Fluctuations in Japan, Nobuhiro Kiyotaki and Kenneth D. West * Causes and Consequences of Imperfections in the Consumer Price Index, Matthew D. Shapiro and David Wilcox * A Scorecard for Indexed Government Debt, John Y. Campbell and Robert J. Shiller * Technology Improvements and Productivity Slowdowns: Another Crazy Explanation, Andreas Hornstein and Per Krusell * Are Currency Crises Self-Fulfilling?, Paul Krugman * Inequity and Growth, Roland Benabou |
| bernanke macroeconomics: Bernanke's Test Johan Van Overtveldt, 2009-03-01 The consensus on Alan Greenspan's performance as Fed chair used to be extremely positive, but more and more it's been called into question. Now, 2008 has seen Ben Bernanke in the eye of a storm that was created largely during Greenspan's tenure. His management of the bubble of all bubbles will be a decisive factor in whether this crisis will be limited in its impact on the real economy or whether it directly leads to a major recession. This is Bernanke's Test. In examining the challenges facing Bernanke, author Johan Van Overtveldt reviews Greenspan's long record as Fed chair, as well as Ben Bernanke's career as an economist prior to replacing Greenspan. The book offers much-needed historical context by exploring the role and reach of the central banker, and how former Fed chairmen — Benjamin Strong, William McChesney Martin, Arthur Burns, and especially Paul Volcker — dealt with the same complex issues Bernanke faces today. |
| bernanke macroeconomics: A Handbook of Alternative Monetary Economics Philip Arestis, Malcolm C. Sawyer, 2006 Consists of over 30 major contributions that explore a range of work on money and finance. The contributions in this handbook cover the origins and nature of money, detailed analyses of endogenous money, surveys of empirical work on endogenous money and the nature of monetary policy when money is endogenous. |
| bernanke macroeconomics: Credit, Money and Macroeconomic Policy Claude Gnos, Louis-Philippe Rochon, 2011-01-01 While some of the chapters address the recent crisis as well as adjustments to the Basel Accord, others analyze the required changes to the conduct of monetary and fiscal policies. The distinguished authors offer an in-depth and comprehensive analysis of macroeconomics and providealternative policies to deal with a number of persistent modern-day problems. |
| bernanke macroeconomics: Confronting South Korea's Next Crisis Jaejoon Woo, 2022-05-12 South Korea's economic miracle is a well-known story. However, today Korea is confronting a new set of internal and external risks, which may foreshadow the next crisis. The Korean economy has been struggling with the faltering growth momentum and the rise of unprecedented socio-economic problems over recent years well before the pandemic crisis. After abrupt downshifts to markedly slower growth in the early 2000s, economic growth has continued to decelerate. Koreans are grappling with slow income growth, all time-high household debt, high youth unemployment, inequality, and social polarization. Politics is in disarray and is incapable of directing social discourse for the common good. Rapid population aging along with the world's lowest fertility rates stokes fears of Japanification. Simultaneously, disruptive technologies and fast-changing business environment such as the rise of China clash with a range of long-standing structural problems. The contemporary challenges are radically different from those seen in the early stages of industrialization. There are multiple risks that threaten to self-perpetuate low or stagnant growth over the next decade or so, if not an outright financial crisis. Motivated by these latest developments, this book seeks to provide a timely and in-depth analysis of key current issues and foreseeable challenges of the economy, with a provocative reassessment of its future. Based on extensive new empirical works, it examines the underlying causes of the socio-economic problems. In a constructive spirit, it puts in perspective what would constitute critical elements of ideal policy solutions and the direction of the future government's role. |
| bernanke macroeconomics: The Global Financial Crisis and the New Monetary Consensus Marc Pilkington, 2013-10-01 The Global Financial Crisis has reshuffled the cards for central banks throughout the world. In the wake of the biggest crisis since the Great Depression, this volume traces the evolution of modern central banking over the last fifty years. It takes in the inflationary chaos of the 1970s and the monetarist experiments of the 1980s, eventually leading to the New Monetary Consensus, which took shape in the 1990s and prevailed until 2007. The book then goes on to review the limitations placed on monetary policy in the aftermath of the global meltdown, arguing that the financial crisis has shaken the new monetary consensus. In the aftermath of the worst crisis since the Great Depression, the book investigates the nature of present and future monetary policy. Is the Taylor rule still a satisfactory monetary precept for central bankers? Has the New Monetary Consensus been shaken by the Global Financial Crisis? What are the fundamental issues raised by the latter cataclysmic chain of events? How should central banks conceptualize monetary policy anew in a post-crisis scenario? Existing books have dwelt extensively on the characteristics of the New Monetary Consensus, but few have cast light on its relevance in a post-crisis scenario. This book seeks to fill this gap, drawing on the lessons from five decades of contrasted theoretical approaches ranging from Keynesianism, monetarism, new classical macroeconomics, inflation targeting and more recently, pragmatic global crisis management. |
| bernanke macroeconomics: Business Cycle Economics Todd A. Knoop, 2015-02-17 Presents the empirical data of business cycles and the theories that economists have developed to explain and prevent them, and considers case studies of recessions and depressions in the United States and internationally. Despite more than two centuries of debate, a definitive explanation of the causes of economic cycles still does not exist. Economists, politicians, and policymakers have argued many well-known theories as to why these peaks and slumps occur, and cyclical recessions and depressions continue in spite of the enormous intellectual reserves working to prevent them. This timely analysis presents a comprehensive overview of global economics, assessing older theories alongside of new ways of thinking to reveal the empirical methods needed to evaluate, forecast, and prevent future crises. Educator and economist Todd Knoop provides explanations of influential macroeconomic theories that have shaped modern economics, such as Keynesian economics, Neoclassical economics, Austrian economics, and New Keynesian economics. In addition, he considers case studies of specific recessions and depressions, beginning with the Great Depression through the East Asian crisis and Great Recession in Japan and culminating with a detailed examination of the European debt crisis and the 2008 global financial crisis. The work concludes with a look at the insights gained from these fiscal events as well as the major questions that still remain unanswered as a result of these crises. |
| bernanke macroeconomics: Working Papers Volume II Peterson Institute for International Economics, 2007 Perhaps the most popular of all Institute products, selected Working Papers are now available in a print format. These papers contain the preliminary results of ongoing Institute research. The book covers a wide range of topics including offshoring, central banks, Eurasian growth, Europe, and international reserves. Included in the book are papers by Edwin M. Truman, Adam Posen, J. Bradford Jensen, Anders slund, C. Randall Henning, and Jacob Kirkegaard. Volume II contains papers from 2006. Future volumes will be published on a semi-regular schedule as material is available. |
| bernanke macroeconomics: Handbook of Monetary Economics 3A , 2010-12-08 What tools are available for setting and analyzing monetary policy? World-renowned contributors examine recent evidence on subjects as varied as price-setting, inflation persistence, the private sector's formation of inflation expectations, and the monetary policy transmission mechanism. Stopping short of advocating conclusions about the ideal conduct of policy, the authors focus instead on analytical methods and the changing interactions among the ingredients and properties that inform monetary models. The influences between economic performance and monetary policy regimes can be both grand and muted, and this volume clarifies the present state of this continually evolving relationship. - Explores the models and practices used in formulating and transmitting monetary policies - Raises new questions about the volume, price, and availability of credit in the 2007-2010 downturn - Questions fiscal-monetary connnections and encourages new thinking about the business cycle itself - Observes changes in the formulation of monetary policies over the last 25 years |
| bernanke macroeconomics: Financial crises and the nature of capitalist money Jocelyn Pixley, 2013-09-12 This volume is a debate about a sociology and economics of money: a form of positive trespassing. It is unique in being written by scholars of both disciplines committed to this mutual venture and in starting from the original groundwork laid by Geoffrey Ingham. The contributors look critically at money's institutions and the meanings and history of money-creation and show the cross cutting purposes or incommensurable sides of money and its crises. These arise from severe tensions and social conflicts about the production of money and its many purposes. We demonstrate the centrality of money to capitalism and consider social disorders since the 2007 crisis, which marks the timeliness and need for dialogue. Both disciplines have far too much to offer to remain in the former, damaging standoff. While we are thankful to see a possible diminution of this split, remnants are maintained by mainstream economic and sociological theorists who, after all the crises of the past 30 years, and many before, still hold to an argument that money really does not 'matter'. We suggest, to many different and interested audiences, that since money is a promise, understanding this social relation must be a joint though plural task between economics and sociology at the very least. |
| bernanke macroeconomics: Causality and Objectivity in Macroeconomics Tobias Henschen, 2023-09-29 Central banks and other policymaking institutions use causal hypotheses to justify macroeconomic policy decisions to the public and public institutions. These hypotheses say that changes in one macroeconomic aggregate (e.g. aggregate demand) cause changes in other macroeconomic aggregates (e.g. in inflation). An important (perhaps the most important) goal of macroeconomists is to provide conclusive evidence in support of these hypotheses. If they cannot provide any conclusive evidence, then policymaking institutions will be unable to use causal hypotheses to justify policy decisions, and then the scientific objectivity of macroeconomic policy analysis will be questionable. The book analyzes the accounts of causality that have been or can be proposed to capture the type of causality that underlies macroeconomic policy analysis, the empirical methods of causal inference that contemporary macroeconomists have at their disposal, and the conceptions of scientific objectivity that traditionally play a role in economics. The book argues that contemporary macroeconomists cannot provide any conclusive evidence in support of causal hypotheses, and that macroeconomic policy analysis doesn’t qualify as scientifically objective in any of the traditional meanings. The book also considers a number of steps that might have to be taken in order for macroeconomic policy analysis to become more objective. The book addresses philosophers of science and economics as well as (macro-) economists, econometricians and statisticians who are interested in causality and macro-econometric methods of causal inference and their wider philosophical and social context. |
| bernanke macroeconomics: Economic Thinkers David A. Dieterle, 2013-08-08 Who are the individuals whose novel ideas, writings, and philosophies have influenced economics throughout history—and in doing so, have helped change the world? This encyclopedia provides a readable study of economics by examining the great economists themselves. This book presents biographies of 200 economic thinkers throughout history, supplying a one-stop reference about the men and women whose ideas, writings, and philosophies created the foundation of our current understanding of economics. Depicting their subjects within the contexts of history, development economics, and econometrics, these biographies provide an insightful overview of the world of economics through the economists of significance and the many subdisciplines, topics, eras, and philosophies they represent. Economic Thinkers: A Biographical Encyclopedia begins by describing economic thinkers in ancient Greece and Rome, moves through history to cover economists in the 15th through 19th centuries, and addresses economic theory in the 20th century and the modern era. Written to be easily accessible and highly readable, the work will appeal to students, scholars, general readers, and anyone interested in learning about the historical and philosophical foundation of economics. |
| bernanke macroeconomics: Theory of Macroeconomic Policy Christopher Tsoukis, 2020-10-29 Theory of Macroeconomic Policy reviews the theoretical foundations of macroeconomic, fiscal, and monetary, policy. It offers a panoramic view of macroeconomic theory, covering a wide range of topics that are not customarily dealt with in macroeconomics texts, as well as more standard material. Advanced theory is bridged with more elementary or intermediate material, and established models are reviewed alongside current research directions. There is an extensive review of empirical evidence on virtually every topic, supplemented by narrative accounts for various episodes. The policy implications of the various theories are emphasised throughout. The chapters are largely self-contained so that different courses can focus at different places. A 'Guidance for Further Study' Section and extensive bibliography give plenty of ideas for all levels of independent study, from Undergraduate Projects to MSc Dissertations to PhD Theses. Theory of Macroeconomic Policy presents a balance between: breadth as well as depth; analytical treatment and intuition; theory and evidence; vintage theories and current directions; theory and policy; (established) theory and debate. Theory of Macroeconomic Policy is an affirmation that there is a well-developed body of theory that is invaluable for an in-depth understanding of the macro-economy and policy; equally, there is much scope for critical discussion and debate. |
| bernanke macroeconomics: The Oxford Handbook of the Economics of Central Banking David G. Mayes, Pierre L. Siklos, Jan-Egbert Sturm, 2019-02-15 The economic influence of central banks has received ever more attention given their centrality during the financial crises that led to the Great Recession, strains in the European Union, and the challenges to the Euro. The Oxford Handbook of the Economics of Central Banking reflects the state of the art in the theory and practice and covers a wide range of topics that will provide insight to students, scholars, and practitioners. As an up to date reference of the current and potential challenges faced by central banks in the conduct of monetary policy and in the search for the maintenance of financial system stability, this Oxford Handbook covers a wide range of essential issues. The first section provides insights into central bank governance, the differing degrees of central bank independence, and the internal dynamics of their decision making. The next section focuses on questions of whether central banks can ameliorate fiscal burdens, various strategies to affect monetary policy, and how the global financial crisis affected the relationship between the traditional focus on inflation targeting and unconventional policy instruments such as quantitative easing (QE), foreign exchange market interventions, negative interest rates, and forward guidance. The next two sections turn to central bank communications and management of expectations and then mechanisms of policy transmission. The fifth part explores the challenges of recent developments in the economy and debates about the roles central banks should play, focusing on micro- and macro-prudential arguments. The implications of recent developments for policy modeling are covered in the last section. The breadth and depth enhances understanding of the challenges and opportunities facing central banks. |
| bernanke macroeconomics: The Fall of the Celtic Tiger Donal Donovan, Antoin E. Murphy, 2013-06-06 By 2000, Ireland had achieved a remarkable macroeconomic performance: 10% economic growth annually, a budget surplus, and a very low debt to GDP ratio. Emigration had disappeared and there was significant immigration from Eastern Europe. Yet, by November 2010, output had collapsed to an extent unprecedented among post war industrial countries, the budget deficit was out of control, and the debt to GDP ratio had soared to around 100%. In an unprecedented development, Ireland was forced to apply for an emergency bail-out package from the Troika (European Commission, European Central Bank, and the International Monetary Fund). This book examines how the Celtic Tiger, a high growth performing economy, fell into a macroeconomic abyss. It is a story that shows how the Irish economy moved from a property market crisis to a banking crisis and fiscal crisis, and how these three crises led to a fourth crisis, the massive financial crisis of 2010. Against the backdrop of the newly created Eurozone, the book demonstrates how a housing boom was transformed into a property market bubble through excessive credit creation. Accompanying the market bubble, buoyant property related taxes enabled a profligate government to over spend and under tax. Few, either in Ireland or Europe, recognised the danger signals because the prevailing economic ideology suggested that financial markets could self-regulate. The book analyses the roles of banks, builders, developers, regulators (the EU, the ECB, the Central Bank of Ireland, and the Irish Financial Regulator), politicians, economists, the media, and a property driven populace during the various stages of the downfall of the Celtic Tiger. It pays particular attention to the decisions to provide a highly controversial comprehensive guarantee for the covered Irish banks in 2008, and the subsequent events that left the government with no alternative but to request the 2010 bail out. Throughout the book, attention is devoted to the allocation of responsibilities for the unfolding crises. First, who or what was responsible for what happened and in what sense? Second, could specific actions have been taken at various stages to prevent the final recourse to the bail out? Finally, the book addresses the future of the Celtic Tiger. It discusses the impact of measures to help resolve the current Euro debt crisis as well as the underlying lessons to be learned from this traumatic period in Ireland's economic and financial history. |
| bernanke macroeconomics: Monetary Economics Steven Durlauf, L. Blume, 2016-04-30 Specially selected from The New Palgrave Dictionary of Economics 2nd edition, each article within this compendium covers the fundamental themes within the discipline and is written by a leading practitioner in the field. A handy reference tool. |
| bernanke macroeconomics: Handbook of Research Methods and Applications in Empirical Macroeconomics Nigar Hashimzade, Michael A. Thornton, 2013-01-01 This comprehensive Handbook presents the current state of art in the theory and methodology of macroeconomic data analysis. It is intended as a reference for graduate students and researchers interested in exploring new methodologies, but can also be employed as a graduate text. The Handbook concentrates on the most important issues, models and techniques for research in macroeconomics, and highlights the core methodologies and their empirical application in an accessible manner. Each chapter is largely self-contained, whilst the comprehensive introduction provides an overview of the key statistical concepts and methods. All of the chapters include the essential references for each topic and provide a sound guide for further reading. Topics covered include unit roots, non-linearities and structural breaks, time aggregation, forecasting, the Kalman filter, generalised method of moments, maximum likelihood and Bayesian estimation, vector autoregressive, dynamic stochastic general equilibrium and dynamic panel models. Presenting the most important models and techniques for empirical research, this Handbook will appeal to students, researchers and academics working in empirical macro and econometrics. |
Ben Bernanke - Wikipedia
Bernanke meeting with United States President Barack Obama. Bernanke taught at the Stanford Graduate School of Business from 1979 until 1985, was a visiting professor at New York …
Ben Bernanke | Biography, Nobel Prize, & Facts | Britannica Money
Jun 27, 2025 · Ben Bernanke, American economist who was jointly awarded the 2022 Nobel Prize for Economics with Douglas Diamond and Philip Dybvig. Bernanke served as chairman of the …
Ben S. Bernanke - Federal Reserve History
Before his appointment as chairman of the Board of Governors, Bernanke was chairman of the President's Council of Economic Advisers, from June 2005 to January 2006. As chairman of …
Ben Bernanke, former Princeton professor and ... - Princeton University
Oct 10, 2022 · Ben Bernanke, a Princeton professor of economics and public affairs from 1985 to 2002, chairman of the economics department from 1996 to 2002, and founder of the …
Ben Bernanke – Facts – 2022 - NobelPrize.org
Through statistical analysis and historical source research, Bernanke demonstrated how failing banks played a decisive role in the global depression of the 1930s.
Biography - Dr. Ben S. Bernanke | FDIC.gov
Dec 21, 2020 · Dr. Ben S. Bernanke is a Distinguished Fellow in residence with the Economic Studies Program at the Brookings Institution. From February 2006 through January 2014, he …
Ben Bernanke Led the Fed During the Worst ... - The New York Times
Oct 10, 2022 · Ben S. Bernanke, the former chair of the Federal Reserve, on Monday won a Nobel Memorial Prize in economics for his research into banks and financial crises — work he …
Who Is Ben Bernanke? Why Is He Important? - Investopedia
Aug 22, 2022 · Ben Bernanke is a former Federal Reserve chair, serving from 2006 to 2014. As Fed chair, Bernanke oversaw the central bank's response to the 2008 financial crisis and the …
Ben Bernanke - Wikiwand
Ben Shalom Bernanke is an American economist who served as the 14th chairman of the Federal Reserve from 2006 to 2014. After leaving the Federal Reserve, he was...
Ben Bernanke - Simple English Wikipedia, the free encyclopedia
Ben Bernanke ... Ben Shalom Bernanke[2] (born December 13, 1953) is an American economist of Jewish descent. [3] He was the Chair of the Federal Reserve, the central bank of the United …
Ben Bernanke - Wikipedia
Bernanke meeting with United States President Barack Obama. Bernanke taught at the Stanford Graduate School of Business from 1979 until 1985, was a visiting professor at New York …
Ben Bernanke | Biography, Nobel Prize, & Facts | Britannica Money
Jun 27, 2025 · Ben Bernanke, American economist who was jointly awarded the 2022 Nobel Prize for Economics with Douglas Diamond and Philip Dybvig. Bernanke served as chairman of the …
Ben S. Bernanke - Federal Reserve History
Before his appointment as chairman of the Board of Governors, Bernanke was chairman of the President's Council of Economic Advisers, from June 2005 to January 2006. As chairman of …
Ben Bernanke, former Princeton professor and ... - Princeton University
Oct 10, 2022 · Ben Bernanke, a Princeton professor of economics and public affairs from 1985 to 2002, chairman of the economics department from 1996 to 2002, and founder of the …
Ben Bernanke – Facts – 2022 - NobelPrize.org
Through statistical analysis and historical source research, Bernanke demonstrated how failing banks played a decisive role in the global depression of the 1930s.
Biography - Dr. Ben S. Bernanke | FDIC.gov
Dec 21, 2020 · Dr. Ben S. Bernanke is a Distinguished Fellow in residence with the Economic Studies Program at the Brookings Institution. From February 2006 through January 2014, he …
Ben Bernanke Led the Fed During the Worst ... - The New York Times
Oct 10, 2022 · Ben S. Bernanke, the former chair of the Federal Reserve, on Monday won a Nobel Memorial Prize in economics for his research into banks and financial crises — work he …
Who Is Ben Bernanke? Why Is He Important? - Investopedia
Aug 22, 2022 · Ben Bernanke is a former Federal Reserve chair, serving from 2006 to 2014. As Fed chair, Bernanke oversaw the central bank's response to the 2008 financial crisis and the …
Ben Bernanke - Wikiwand
Ben Shalom Bernanke is an American economist who served as the 14th chairman of the Federal Reserve from 2006 to 2014. After leaving the Federal Reserve, he was...
Ben Bernanke - Simple English Wikipedia, the free encyclopedia
Ben Bernanke ... Ben Shalom Bernanke[2] (born December 13, 1953) is an American economist of Jewish descent. [3] He was the Chair of the Federal Reserve, the central bank of the United …
