{"product_id":"a-study-in-monetary-macroeconomics-stefan-homburg-9780198807537","title":"A Study in Monetary Macroeconomics","description":"The financial crisis of 2007 and the following recession present a major challenge to macroeconomic theory. The same holds true for exceptionally low interest rates during the recent years and for the puzzle that super-expansive monetary policies failed to produce high inflation. Approaches that focus on steady states, rational expectations, and individuals planning over infinite horizons, are not suitable for analysing such abnormal situations. \u003cem\u003eA Study in Monetary Macroeconomics\u003c\/em\u003e refines and improves mainstream approaches to resolve these puzzles and to contribute to a better understanding of monetary and fiscal policies. \u003cp\u003e\u003c\/p\u003eUsing a rich institutional structure that includes features such as credit money, external finance, borrowing constraints, net worth, real estate and commercial banks, this timely study reduces rationality requirements to cope with its complex setting. It starts with a simple baseline model, deriving results from mathematical reasoning and simulations whilst adhering to the method of dynamic general equilibrium (DGE) with optimizing agents and fully specified models. Highly topical, \u003cem\u003eA Study in Monetary Macroeconomics\u003c\/em\u003e uses a unified theoretical framework to demonstrate that a DGE approach makes it possible to develop clean models that work outside steady states and are appropriate for answering macroeconomic questions of actual interest.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Stefan Homburg\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 0198807538\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9780198807537\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Oxford University Press, USA\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 09\/13\/2017\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 224\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 1.10lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.30h x 6.10w x 0.90d\u003cbr\u003e\u003cbr\u003e\u003cb\u003eReview Citation(s): \u003c\/b\u003e\u003cbr\u003e\u003ci\u003eChoice\u003c\/i\u003e 02\/01\/2018","brand":"Stefan Homburg","offers":[{"title":"Hardcover","offer_id":44054692364543,"sku":"9780198807537","price":85.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_b1140ec0-1983-4ef8-8acf-a573ac22833d.jpg?v=1685031431","url":"https:\/\/www.whiterainbookhouse.com\/products\/a-study-in-monetary-macroeconomics-stefan-homburg-9780198807537","provider":"WR Book House","version":"1.0","type":"link"}