Macroeconomics 6th By Olivier Blanchard; David H. Johnson

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