000			02477nam a2200277Ia 4500
001			2720
008			230305s2017 xx 000 0 und d
020			_a9781292085678
040			_cTBS
041			_aeng
043			_aen_UK
050			_aHB172.5 _b.B574
245		0	_aMacroeconomics _b: a European perspective _c/ Olivier Blanchard, Alessia Amighini, Francesco Giavazzi
250			_a3rd ed.
260			_aHarlow, England : _bPearson Education, _c2017
300			_axxiii, 563 pages : illustrations ; 28 cm.
500			_aRevised edition of the authors' Macroeconomics, [2013]
504			_aIncludes bibliographical references and index.
505			_aIntroduction -- The core -- The short run -- The medium run-- The long run -- Extensions -- Expectations -- The open economy -- Back to policy -- Epilogue -- The story of macroeconomics -- Appendices -- Appendix 1: An introduction to national income and product accounts -- Appendix 2: A maths refresher -- Appendix 3: An introduction to econometrics -- Glossary -- Symbols used in this book -- Index.
520			_aThis book gives students a thorough understanding of macroeconomics by taking a unified view of the subject, allowing connections to be made between the short, medium and long run. Re-written almost from scratch in light of the experience of the Great Recession, this text is essential reading for anyone studying macroeconomics in the aftermath of the financial crisis. The text recognizes that modern central banks set interest rates, not the quantity of money: this gets rid of the LM curve, greatly simplifying the discussion of financial markets. It presents the Medium Run starting directly from the Phillips curve, thus avoiding the intermediate AS-AD step which was clunky, and, for good reasons, undergraduates find it difficult to understand. Output above potential, or unemployment below the natural rate, put upward pressure on inflation. The nature of the pressure depends on the formation of expectations, an issue central to current developments. The yield curve now incorporates a risk premium, whose fluctuations have been central to the crisis, especially since Quantitative Easing policies have shown that monetary policy can affect this premium.
650		0	_aMacroeconomics _xEurope _98988
700			_aBlanchard, Olivier (Olivier J.) _eauthor _921334
700			_aAmighini, Alessia _eauthor _911995
700			_aGiavazzi, Francesco _eauthor _911994
942			_2lcc
999			_c2624 _d2624