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Development Macroeconomics

Fourth Edition

Peter J. Montiel, Pierre-Richard Agénor

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Princeton University Press img Link Publisher

Sozialwissenschaften, Recht, Wirtschaft / Wirtschaft

Beschreibung

The global financial crisis triggered severe shocks for developing countries, whose embrace of greater commercial and financial openness has increased their exposure to external shocks, both real and financial. This new edition of Development Macroeconomics has been fully revised to address the more open and less stable environment in which developing countries operate today.

Describing the latest advances in this rapidly changing field, the book features expanded coverage of public debt and the management of capital inflows as well as new material on fiscal discipline, monetary policy regimes, currency, banking and sovereign debt crises, currency unions, and the choice of an exchange-rate regime. A new chapter on dynamic stochastic general equilibrium (DSGE) models with financial frictions has been added to reflect how the financial crisis has reshaped our thinking on the role of such frictions in generating and propagating real and financial shocks. The book also discusses the role of macroprudential regulation, both independently and through its interactions with monetary policy, in preserving financial and macroeconomic stability.

Now in its fourth edition, Development Macroeconomics remains the definitive textbook on the macroeconomics of developing countries.

  • The most authoritative book on the subject—now fully revised and expanded
  • Features new material on fiscal discipline, monetary policy regimes, currency, banking and sovereign debt crises, and much more
  • Comes with online supplements on informal financial markets, stabilization programs, the solution of DSGE models with financial frictions, and exchange rate crises

Kundenbewertungen

Schlagwörter

Macroeconomics, Central bank, Government budget balance, Fiscal gap, Inflation tax, Externality, Real interest rate, Fear of floating, Long run and short run, Deadweight loss, Capital control, Supply (economics), Adjustable Peg, Inflation, Debt, Price controls, Investment, Real business-cycle theory, Core inflation, High-yield debt, Indexation, Cost Of Funds, Real wages, Nominal interest rate, Marshall–Lerner condition, Rate Trigger, Monetary authority, Inflation targeting, Inflationary bias, Optimal tax, Fiscal adjustment, Fiscal policy, Currency crisis, Developed country, Information asymmetry, Interest rate, Asset, Tight Monetary Policy, AK model, Monetarism, Market liquidity, Credit (finance), Policy, Crowding out (economics), Efficiency wage, Economic equilibrium, Liberalization, Depreciation, Net interest margin, Tax, Economy, Disinflation, Financial accelerator, Monetary policy, Risk premium, Speculation, Bank run, Structural adjustment, Precautionary savings, Exchange rate, Macroprudential regulation, Devaluation, Credit rationing, Exchange-rate regime, Unemployment, Taylor rule, Excess burden of taxation, Currency, Real versus nominal value (economics), Substitution effect