Macroeconomics: Institutions, Instability, and Inequality

Carlin and Soskice's book provides students with a coherent set of tractable models to explore and understand the pressing questions facing global economies. It integrates inequality throughout, covers open economy modelling, financial system, monetary policy, fiscal policy, and debt dynamics, and examines the implications of innovation and technological change on the future of work and inequality. It also includes a chapter on contemporary quantitative macroeconomics research and digital formats and resources for students.

Format: Paperback / softback
Length: 1024 pages
Publication date: 29 January 2024
Publisher: Oxford University Press

At the forefront of the field, the authors shed light on the macroeconomics that researchers and policymakers employ in today's world. Through the development of a cohesive framework of tractable models, the book empowers students to delve into and comprehend the pressing issues confronting global economies.

Carlin and Soskice establish a strong connection between students and contemporary research and policy in macroeconomics. The authors' three-equation model, expanded to incorporate the financial system and with an integrated approach to inequality, equips students with a versatile tool they can utilize to address the enduring challenges stemming from the financial crisis and the Great Recession.

Key features:

Engaged with the latest developments in macroeconomic research, policy, and debate, the authors make the cutting edge accessible to undergraduate readers.

The theme of inequality is seamlessly integrated throughout the modeling and applications, with incomplete contracts in labor and credit markets serving as the foundation for the presence of involuntary unemployment and credit constraints.

The content condenses business cycles into a three-equation model encompassing the demand side, the supply side, and the policymaker, offering a realistic and transparent framework that students can deploy to explore their interests.

Open economy modeling for both flexible and fixed exchange rate regimes builds upon the same foundations and adeptly handles oil and climate shocks, as well as the Eurozone crisis.

Thorough treatment of the financial system and its integration with the business cycle is provided, encompassing coverage on policy design and implementation for financial stability in the aftermath of the 2008-9 financial crisis and an exploration of hysteresis within the context of the Great Recession.

Comprehensive coverage of monetary policy, including an in-depth examination of the ample reserve, is also included.

Weight: 1920g
Dimension: 190 x 246 x 44 (mm)
ISBN-13: 9780198838661
Edition number: 2 Revised edition