Macroeconomics 6th By Olivier Blanchard; David H. Johnson
Print ISBN: 9780133061635, 0133061639
eText ISBN: 9780133468700, 0133468704
By: Olivier Blanchard; David H. Johnson
Publisher: Pearson
Print ISBN: 9780133061635, 0133061639
eText ISBN: 9780133468700, 0133468704
Edition: 6thCopyright year: 2012
Blanchard presents a unified and global view of macroeconomics, enabling students to see the connections between the short-run, medium-run, and long-run. From the major economic crisis to the budget deficits of the United States, the detailed boxes in this text have been updated to convey the life of macroeconomics today and reinforce the lessons from the models, making them more concrete and easier to grasp.
Additional ISBNs
9780133076219, 9780133062106, 0133062104
PrefaceNew to this Edition
■ Chapter 1 starts with a history of the crisis, giving a
sense of the landscape, and setting up the issues to be
dealt with throughout the book.
■ A new Chapter 9, which comes after the short- and
medium-run architecture have been put in place,
focuses specifically on the crisis. It shows how one can
use and extend the short-run and medium run analysis
to understand the various aspects of the crisis, from
the role of the financial system to the constraints on
macroeconomic policy.
■ Material on depressions and slumps has been relocated
from later chapters to Chapter 9, and the material
on very high inflation has been reduced and included
in Chapter 23.
■ A rewritten Chapter 23, on fiscal policy, focuses on the
current debt problems of the United States.
■ Chapters 23, 24, and 25 draw the implications of the
crisis for the conduct of fiscal and monetary policy in
particular, and for macroeconomics in general.
■ Many new Focus boxes have been introduced and look
at various aspects of the crisis, among them the following:
“The Lehman Bankruptcy, Fears of Another Great
Depression, and Shifts in the Consumption Function”
in Chapter 3; “Bank Runs, Deposit Insurance, and
Wholesale Funding” in Chapter 4; “The Liquidity Trap,
Quantitative Easing, and the Role of Expectations” in
Chapter 17; “The G20 and the 2009 Fiscal Stimulus”
in Chapter 19; “How Countries Decreased Their Debt
Ratios after World War II” in Chapter 23; and “LTV
Ratios and Housing Price Increases from 2000 to 2007
in Chapter 24.
■ Figures and tables have been updated using the latest
data available.
Organization
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