New Keynesian Economics - Vol. 1: Imperfect Competition and Sticky Prices
Author: N Gregory Mankiw
These two volumes bring together a set of important essays that represent a "new Keynesian" perspective in economics today. This recent work shows how the Keynesian approach to economic fluctuations can be supported by rigorous microeconomic models of economic behavior. The essays are grouped in seven parts that cover costly price adjustment, staggering of wages and prices, imperfect competition, coordination failures, and the markets for labor, credit, and goods. An overall introduction, brief introductions to each of the parts, and a bibliography of additional papers in the field round out this valuable collection.
Volume 1 focuses on how friction in price setting at the microeconomic level leads to nominal rigidity at the macroeconomic level, and on the macroeconomic consequences of imperfect competition, including aggregate demand externalities and multipliers. Volume 2 addresses recent research on non-Walrasian features of the labor, credit, and goods markets.
N. Gregory Mankiw is Professor of Economics at Harvard University. David Romer is Associate Professor of Economics at the University of California at Berkeley.
Contributors: George A Akerlof. Costas Azariadis. Laurence Ball. Ben S. Bernanke. Mark Bits. Olivier J. Blanchard. Alan S. Blinder. John Bryant. Andrew S. Caplin. Dennis W. Carlton. Stephen G. Cecchetti. Russell Cooper. Peter A. Diamond. Gary Fethke. Stanley Fischer. Robert E. Hall. Oliver Hart. Andrew John. Nobuhiro Kiyotaki. Alan B. Krueger. David M. Lilien. Ian M. McDonald. N. David Mankiw. Arthur M. Okun. Andres Policano. David Romer. Julio J. Rotemberg. Garth Saloner. Carl Shapiro. Andrei Shleifer. Robert M. Solow.Daniel F. Spulber. Joseph E. Stiglitz. Lawrence H. Summers. John Taylor. Andrew Weiss. Michael Woodford. Janet L. Yellen.
Booknews
Thirty-four important recent (previously published) essays cover costly price adjustment, staggering of wages and prices, imperfect competition, coordination failures, and the markets for labor, credit, and goods. Collectively they show how the Keynesian approach to economic fluctuations can be supported by rigorous microeconomic models of economic behavior. No subject index. Annotation c. Book News, Inc., Portland, OR (booknews.com)
New interesting textbook: The New Cabbage Soup Diet or Finding Your Bipolar Muse
Economics: Principles and Tools
Author: Arthur OSullivan
This modern, Micro first book has a strong foundation in demand and supply. Its thoughtful coverage of change in demand vs. change in quantity demanded (also in supply coverage) enables readers to better visualize and truly understand the difference between these 2 fundamental concepts. Its hallmark feature includes a focus on the 5 Key Principles of Economics: 1) Opportunity Cost, 2) The Marginal Principle (comparing marginal benefits and marginal costs), 3) Diminishing Returns, 4) The Spillover Principle (for externalities in production and consumption), and, 5) The Reality Principle (distinguishing real from nominal magnitudes). For economists, financial analysts and other finance professionals.
Booknews
This textbook is designed for an introductory course in economics. It covers the principles of both microeconomics and macroeconomics. Other topics include the international economy, economic fluctuations, the economy in the long run, inflation, unemployment, and government deficits. Annotation c. by Book News, Inc., Portland, Or.
Booknews
Covering both microeconomics and macroeconomics, this textbook applies the principles of opportunity cost, marginal benefits, diminishing returns, spillover, and purchasing power to real-world experiences. The third edition adds material on developing policy issues such as electricity deregulation, welfare reform, video piracy in China, and the status of the federal budget. The CD-ROM contains 60 active graphs and seven videos of economic experiments. Annotation c. Book News, Inc., Portland, OR (booknews.com)
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