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E. Malinvaud, 42 Avenue de Saxe, F-75007 Paris, France
Included in series
Advanced Textbooks in Economics, 35
Description
This textbook is the outcome of the last forty years during which the author worked on macroeconomics, teaching it, building tools for its study, particularly within the public service, or advising on policies. This activity took place in various environments; it always led to reflect on the content of macroeconomic knowledge, as well as on research methods for improving or applying knowledge; it called for continually reading the literature, often marvelling at new ideas or research innovations, sometimes also annoyed at misplaced claims or risky fashions, always wondering how recent results were progressively enriching or altering earlier accumulated knowledge.
Such a long maturation inevitably entails a perspective in which contributions made in the 1950s and 1960s find their place beside more modern ones, even when the latter may claim to encompass some of the former. But the book is not about the various macroeconomic schools, nor about the history of macroeconomic ideas. It rather aims at offering an organized treatment of present knowledge, occasionally exposing the contributions of famous authors or famous works, but only when that seemed to be unavoidable.
The book is addressed mainly to students who are already acquainted with economics and its methods. No prerequisite is absolutely required; but the text is too dense for being directly accessible to those who would be ignorant of economic concepts, of economic phenomena or of the economics discipline. The author hopes that the book will be used in the first years of post-graduate teaching. Also that it will serve as a reference on particular macroeconomic issues of unfamiliar approaches to varying economists.
The book is organized in nine long chapters, divided into parts and further into sections. It comprises three volumes. Volume A (chapters 1 to 4) presents the conceptual framework of macroeconomic theory and an extensive treatment of the behaviour of the two main kinds of agents, consumers and producers, seen from the macroeconomic viewpoint. Volume B (chapters 5 to 7) deals with economic growth and with the static analysis of short-term changes in employment and other macroeconomic variables. Volume C (Chapters 8 and 9) is devoted to the dynamics of inflation, to business fluctuations and to macroeconomic policies.
Volumes A and B are simultaneously published, in advance of Volume C. These Volumes A and B already make a self-contained book, fully adequate for teaching a one-year course. Students will occasionally read references to short-run dynamics and to material contained in chapters 8 or 9; but knowing these references is never required for understanding the text where they occur.
Two long chapters provide most of the building blocks for models of the whole economy. They study the behaviour of the two main categories of agents, respectively households, who work, consume and invest their savings (chapter 2), and firms, which build productive capacities and operate so as to produce and sell goods or services (chapter 4). But before embarking into these two chapters the reader will find introductory material in chapter 1, devoted to expose in general terms the elements of the conceptual apparatus of macroeconomics, as well as to elucidate some conventions used in the book. Chapter 3 examines the formal representation of the technology of production; it prepares not only the study of the behaviour of firms, but also the introduction of the productive sector in some models of the economy in which firms have not to be identified as decision makers. Aggregation problems make their first real appearance in part 2 of chapter 2, but are also discussed later, particularly in chapters 3 and 4.
How economic growth is analysed in macroeconomic terms can be seen in chapters 5 and 6. They cover a fairly large number of questions, approaches and theories, some of them already posed and discussed many decades ago. From finding out why economies grow to wondering about intertemporal "market failures", from purely empirical investigations to abstract modelling, from neo-classical theories of "optimal growth" to theories about "the instability of capitalist development", many themes have to be discussed. Treatment of the broad subject is organized in two parts focusing on two simple questions. Chapter 5 asks: How should economies grow? The macroeconomic side of this normative question is essentially simpler than that of the positive question considered in chapter 6: How do economies grow?
The same distinction will not be suitable for structuring the discussion of short-run phenomena and business cycles. The normative aspect does not fully recede; indeed, the search for appropriate economic policies was and remains a dominant motivation for many macroeconomists working on business fluctuations. But this search is intimately linked with progress in understanding the phenomena. Thus it would make little sense to have two separate chapters dealing respectively with the positive and normative questions. We rather distinguish between static and dynamic approaches. Chapter 7 is devoted to theories and models arguing in terms of a "short-term equilibrium", supposed to represent the determination of macroeconomic variables in the proximate future. Discussion of the Keynesian theory is the main subject of the chapter. Giving a large part to the results of econometric investigations, the two following chapters will present what is known about the dynamics of the phenomena and about the potentialities of macroeconomic policies for stabilization. The book progresses mainly from the main short-run trends, in chapter 8, to larger sets of variables, simultaneously evolving according to more or less periodic fluctuations up to a longer horizon, in chapter 9.
Volumes
Volume 35A: Framework, Households and Firms, Volume 35A
Volume 35B: Economic Growth and Short-Term Equilibrium, Volume 35B
Volume 35C: Inflation, Employment and Business Fluctuations, Volume 35C
Bibliographic & ordering Information
Volume 35A - Framework, Households and Firms, Volume 35A
Hardbound, ISBN: 0-444-82862-1, publication date: NOV-1998
Imprint: NORTH-HOLLAND
Price: Order form
USD 121
EUR 107
GBP 70.95
Volume 35B - Economic Growth and Short-Term Equilibrium, Volume 35B
Hardbound, ISBN: 0-444-82863-X, publication date: NOV-1998
Imprint: NORTH-HOLLAND
Price: Order form
USD 121
EUR 107
GBP 70.95
Volume 35C - Inflation, Employment and Business Fluctuations, Volume 35C
Hardbound, ISBN: 0-444-50518-0, 746 pages, publication date: NOV-2000
Imprint: NORTH-HOLLAND
Price: Order form
EUR 103
USD 118
GBP 68.95
Books and book related electronic products are priced in US dollars (USD), euro (EUR), and Great Britain Pounds (GBP). USD prices apply to the Americas and Asia Pacific. EUR prices apply in Europe and the Middle East. GBP prices apply to the UK and all other countries. Customers who order on-line from the Americas will be invoiced in USD and all other countries will be invoiced in GBP.
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