No products in the cart.
Use coupon code “MARCH20” for a 20% discount on all items! Valid until 31-03-2025
Royal Mail express delivery to UK destinations
Regular sales and promotions
Stock updates every 20 minutes!
We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.
The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ...
Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.
Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.
Use coupon code “MARCH20” for a 20% discount on all items! Valid until 31-03-2025
Royal Mail express delivery to UK destinations
Regular sales and promotions
Stock updates every 20 minutes!
5 in stock
£73.99
Buy new:
Delivery: UK delivery Only. Usually dispatched in 1-2 working days.
Shipping costs: All shipping costs calculated in the cart or during the checkout process.
Standard service (normally 2-3 working days): 48hr Tracked service.
Premium service (next working day): 24hr Tracked service – signature service included.
Royal mail: 24 & 48hr Tracked: Trackable items weighing up to 20kg are tracked to door and are inclusive of text and email with ‘Leave in Safe Place’ options, but are non-signature services. Examples of service expected: Standard 48hr service – if ordered before 3pm on Thursday then expected delivery would be on Saturday. If Premium 24hr service used, then expected delivery would be Friday.
Signature Service: This service is only available for tracked items.
Leave in Safe Place: This option is available at no additional charge for tracked services.
| Product ID: | 9780199655793 |
| Product Form: | Paperback / softback |
| Country of Manufacture: | GB |
| Title: | Macroeconomics: Institutions, Instability, and the Financial System |
| Authors: | Author: David Soskice, Wendy Carlin |
| Page Count: | 680 |
| Subjects: | Macroeconomics, Macroeconomics |
| Description: | Select Guide Rating Carlin and Soskice integrate the financial system with a model of the macro-economy. In doing this, they take account of the gaps in the mainstream model exposed by the financial crisis and the Eurozone crisis. This equips the reader with a realistic modelling framework to analyse the economy both in crisis times and in periods of stability. This authoritative new textbook integrates the modern monetary framework, based on the 3-equation model of the demand side, the supply side and the policy maker, with a model of the financial system. As a result, the authors comprehensively address the limitations of the mainstream macroeconomic model exposed by the financial crisis and the Eurozone crisis.The book guides the reader through the three principal steps required to integrate the financial system within the macroeconomic model.Firstly, the authors examine how the margin of the lending rate over the policy rate is set in the commercial banking sector, how money is created in a modern banking system and how the central bank can take account of the working of the banking system in order to achieve its desired policy outcome.Secondly, the authors explore the characteristics of the financial system that result in vulnerability to a financial crisis, with implications for fiscal balance. The economy depends on the continuity of core banking services and governments cannot afford to let them fail. This means that important banks do not bear the full cost of their lending decisions. As a result, they may have an incentive to take on excessive risk.Thirdly, a simple model is developed of the behaviour of highly-leveraged financial institutions as the basis for a leverage or financial cycle in the economy.In addition, the book extends the 3-equation model to the open economy and uses a simple 2-bloc version of the 3-equation model to introduce global imbalances. The case of a common currency area is handled within the core model - both at the Eurozone level and at the level of member countries. Every chapter emphasises how the different actors in the economy behave and interact: what are they trying to achieve and what limits their ability to put their intentions into practice? This is extended to the modelling of growth, where the role of innovation rents in the Schumpeterian model is highlighted. It is essential that students understand previous periods of growth, stability and crisis in preparing for future shocks. With this in mind, the book enables the reader to interpret long run historical data and to compare institutional detail in different eras and across the world. Consequently, this text not only develops the critical thinking skills required for academic success, but ensures the reader can analyse data, trends, and policy debates with the confidence necessary for a career in economics or finance. As a result, it is essential reading for all those interested in learning more about the current macroeconomic system and the role played by financial institutions.Online Resource Centre:For students:Conduct a range of exercises with the closed and open economy versions of the model using the Excel-based macroeconomic simulator.Develop your understanding with additional technical material available in the accompanying web appendices.For registered lecturers:Access the solutions to end of chapter questions from the book. |
| Imprint Name: | Oxford University Press |
| Publisher Name: | Oxford University Press |
| Country of Publication: | GB |
| Publishing Date: | 2014-11-20 |
GoBookshop!
Proudly owned and operated by:
Raythex LTD
17-19 Saint Georges Street
NORWICH
NR3 1AB
Registered No. 15042401
We accept the following payment methods:
