Macroeconomic Policy Since the Financial Crisis

Economic policymakers use macroeconomic models to make decisions, but how reliable are they in real-world conditions? Matteo Iannizzotto's book explores the strengths and weaknesses of these models and encourages students to develop their critical engagement with policymaking. It provides an understanding of the world economy's fluctuations since the global financial crisis, embracing the inconsistency and need for a multiplicity of models.

Format: Paperback / softback
Length: 240 pages
Publication date: 03 October 2023
Publisher: Agenda Publishing

Economic policymakers rely on a range of macroeconomic models to guide their decision-making processes. However, the reliability of these models in real-world conditions remains a subject of debate. While it is acknowledged that all models are flawed, some can be useful in certain situations. In his book, Matteo Iannizzotto introduces and explains the key economic models available for policymaking. He begins by acknowledging that all models are wrong but some are useful, emphasizing the need for economists to make informed choices about which models to adopt and when to deviate from them.

The book employs a clear and critical step-by-step analysis to evaluate the strengths and weaknesses of each model. This approach allows students to develop their own critical engagement with macroeconomic policymaking, enabling them to understand the complexities and nuances of the field.

One of the key strengths of the book is its ability to provide a comprehensive understanding of the world economy's fluctuations since the global financial crisis. Iannizzotto embraces the uncomfortable fact that inconsistency and the need for a multiplicity of models are central to macroeconomic policy choices. He highlights the challenges faced by policymakers in navigating a complex and rapidly evolving economic landscape, where models often fail to capture the full range of factors that influence economic outcomes.

The book is particularly valuable for students who are bewildered by the disconnect between the models in their textbooks and the policy choices that are widely debated in the press. It offers a clear and accessible introduction to the key economic models, helping students to bridge the gap between theory and practice. By providing a critical perspective on the strengths and weaknesses of each model, the book enables students to develop their own analytical skills and form informed opinions about macroeconomic policy.

In conclusion, "Macroeconomic Models: An Introduction to Their Uses and Limitations" is a valuable resource for students, policymakers, and anyone interested in understanding the complexities of macroeconomic policymaking. By providing a clear and critical analysis of the key economic models, the book enables readers to develop their own critical engagement with macroeconomic policy and gain a deeper understanding of the world economy's fluctuations.

Weight: 420g
Dimension: 170 x 240 x 22 (mm)
ISBN-13: 9781788216555