Essays on Macroeconomic Policy and Growth in India


Book Description

This collection of essays deals with various aspects of economic reforms undertaken in India since the early 1990s with special emphasis on economic growth. The essays underscore the remarkably swift turnaround in the Indian economy from crisis condition in 1991 to good health by 1995. In thispaperback edition, a new preface addresses issues of India's phenomenal economic growth in the last few years.The early chapters deal with macroeconomic policies and performance, external sector challenges and their management and tax reforms in India, and the economic consequences of these reforms. A significant discussion is on the political and institutional factors that were at work to initiate andsustain these reforms. The final chapters highlight six major areas for government action: fiscal consolidation; improving state finances to support social development; infrastructure reforms; industrial policy reforms, management of water resources; and improvement in law and governance.




Money, Macroeconomics, and Economic Policy


Book Description

These original contributions celebrate and extend Tobin's contributions to macroeconomics, international economics, finance, and economic policy.




Policies for Prosperity


Book Description

In these timely essays, Nobel prize�winning economist James Tobin shows how Keynesian economics offers corrective treatment for the economic ailments we have faced under the Ford, Carter, and Reagan administrations.Essays in the first part of the book focus on theory and policy in Keynesian economics, particularly on the modern anti-Keynesian movements of the 1970s and 1980s. Tobin's writings on the events, controversies, doctrines, and policies of the Reagan era make up the book's second section, Essays in part three continue to discuss the Reagan revolution, focusing on fiscal policies and presenting some general macroeconomic principles that can be invoked to remedy the situation; those in part four are concerned more specifically with the conduct of monetary policy. A fifth section addresses inflation stagflation, and unemployment, recommending income policies that Tobin believes must become a "permanent tool of macroeconomic policy." The book concludes with several essays on various aspects of political economy, including a timely reminder that economic policies should serve ethical values.James Tobin, who received the Nobel prize in economics in 1981, is Sterling Professor of Economics at Yale.




Essays in Macroeconomic Policy


Book Description




A Critical Essay on Modern Macroeconomic Theory


Book Description

In the early 1980s, rational expectations and new classical economics dominated macroeconomic theory. This essay evolved from theauthors' profound disagreement with that trend. It demonstrates notonly how the new classical view got macroeconomics wrong, but also howto go about doing macroeconomics the right way.




Contours of the World Economy 1-2030 AD


Book Description

This book seeks to identify the forces which explain how and why some parts of the world have grown rich and others have lagged behind. Encompassing 2000 years of history, part 1 begins with the Roman Empire and explores the key factors that have influenced economic development in Africa,Asia, the Americas and Europe. Part 2 covers the development of macroeconomic tools of analysis from the 17th century to the present. Part 3 looks to the future and considers what the shape of the world economy might be in 2030. Combining both the close quantitative analysis for which ProfessorMaddison is famous with a more qualitative approach that takes into account the complexity of the forces at work, this book provides students and all interested readers with a totally fascinating overview of world economic history. Professor Maddison has the unique ability to synthesise vast amountsof information into a clear narrative flow that entertains as well as informs, making this text an invaluable resource for all students and scholars, and anyone interested in trying to understand why some parts of the World are so much richer than others.




Macroeconomics and Development


Book Description

Latin American neo-structuralism is a cutting-edge, regionally focused economic theory with broad implications for macroeconomics and development economics. Roberto Frenkel has spent five decades developing the theory's core arguments and expanding their application throughout the discipline, revolutionizing our understanding of high inflation and hyperinflation, disinflation programs, and the behavior of foreign exchange markets as well as financial and currency crises in emerging economies. The essays in this collection assess Latin American neo-structuralism's theoretical contributions and viability as the world's economies evolve. The authors discuss Frenkel's work in relation to pricing decisions, inflation and stabilization policy, development and income distribution in Latin America, and macroeconomic policy for economic growth. An entire section focuses on finance and crisis, and the volume concludes with a neo-structuralist analysis of general aspects of economic development. For those seeking a comprehensive introduction to contemporary Latin American economic thought, this collection not only explicates the intricate work of one of its greatest practitioners but also demonstrates its impact on the growth of economics.




Alternative Approaches in Macroeconomics


Book Description

This book honours Professor John McCombie’s retirement by exploring a variety of themes, theories and debates in non-orthodox macroeconomics. With contributions from leading scholars, the book covers diverse ground in economic thought, policy, empirical work and modelling. It demonstrates ongoing presumptions and asks probing questions of topical questions from the increase of income equality to the international variation of productivity investment. This collection will appeal to academics and students with an interest in the history of macroeconomic thinking.







Essays in Economic Dynamics


Book Description

This book reflects the state of the art in nonlinear economic dynamics, providing a broad overview of dynamic economic models at different levels. The wide variety of approaches ranges from theoretical and simulation analysis to methodological study. In particular, it examines the local and global asymptotical behavior of both macro- and micro- level mathematical models, theoretically as well as using simulation. It also focuses on systems with one or more time delays for which new methodology has to be developed to investigate their asymptotic properties. The book offers a comprehensive summary of the existing methodology with extensions to the more complex model variants, since considerations on bounded rationality of complex economic behavior provide the foundation underlying choice-theoretic and policy-oriented studies of macro behavior, which impact the real macro economy. It includes 13 chapters addressing traditional models such as monopoly, duopoly and oligopoly in microeconomics and Keynesian, Goodwinian, and Kaldor–Kaleckian models in macroeconomics. Each chapter presents new aspects of these traditional models that have never been seen before. This work renews the past wisdom and reveals tomorrow's knowledge.