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Patrick Minford

Advanced Macroeconomics

by Patrick Minford (Author), David Peel (Author)

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Advanced Macroeconomics: A Primer, Second Edition
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Since the rational expectations revolution in macroeconomics, the subject has changed massively, adopting the principles behind the revolution and building on them in a spectacular way. In this accessible and informative book, the authors guide the student through what has become the conceptual and mathematical maze of modern macroeconomics. It is intended primarily for the postgraduate student but will also be useful for upper level undergraduates. It explains the basics of each topic and provides a solid grounding for the student to tackle more complex and detailed material in the area.The topics covered include: an introduction to the traditional macro-classical macro/adaptive expectations how to understand and solve standard macro models with rational expectations implications of rational expectations for monetary and fiscal policy the open economy the new models of representative agents and real business cycles the political economy of economic policy (the political business cycle) and independent central banks the supply-side, unemployment and growth empirical testing of the rational expectations hypothesis the efficient markets hypothesis with empirical applications including bond and exchange markets learning, time series-linear and nonlinear.

ISBN-10

1843760908
ISBN-13

978-1843760900
Publisher

Edward Elgar Pub
Publication date

January 1, 2000
Language

English
Dimensions

6 x 1.25 x 9 inches
Print length

560 pages
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4.2 out of 5

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Lizi

must have for anyone into rational expecation

Reviewed in the United States on December 20, 2019

It's an advanced macroeconomics book, so what you expect. It surely ain't beginner-friendly. It's a book you must have if you are into rational-expectations based empirical macro which is what a lot of PhD in econ are doing.

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Brian Potter

At Best Poor, At Worst Very Poor!

Reviewed in the United States on February 5, 2003

This book should be a non-starter for advanced students of Macroeconomics: poorly written, poorly thought through, difficult to follow and very closed-minded.
A waste of valuable book shelf space!

5 people found this helpful

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JRM

Advanced Macroeconomics as it should be

Reviewed in the United Kingdom on September 4, 2009

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Well written, comprehendible guide to advanced macroeconomics for advanced undergraduate or postgraduate economics students. Minford and Peel's guide to the rational expectation revolution of macroeconomics is present in a clear and comprehensive manner. I have had the fortune to have been taught macroeconomics by Professor Peel, and I highly recommend this book to anyone intereted in applications of rational expectations in macroeconomics. A very refreshing read compared to the dry and rather uninteresting approach taken by the likes of David Romer's Advanced Macroeconomics. Advanced Macroeconomics

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Kenneth Hunter

A useful and challenging guide to rational expectations economics

Reviewed in the United Kingdom on January 14, 2018

Verified Purchase

Good but very mathematical. It's hard work but worth it if you can follow.

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Advanced Macroeconomics

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