Timely commentaries and essays from economist Rudi Dornbusch. The underlying theme of Rudi Dornbusch's work is unabashedly Chicago, namely, the University of Chicago belief that markets solve problems best and that most bureaucrats, even when well-intentioned, are distracted by politics or excessive zeal for perfect solutions. Dornbusch seeks to challenge those in charge with alternative answers and to limit their ambitions. He takes aim at central bankers, bureaucrats, unions, do-gooders, and politicians from Brazil, Japan, Russia, and other scenes of economic disaster. This book collects Dornbusch's recent commentaries from such publications as Business Week, the Wall Street Journal, and the Financial Times, as well as longer essays from recent and forthcoming books. The pieces focus on issues of domestic and international economic policy, including inflation and debt, exchange rates, trade policy, emerging markets, and the intersection of politics and economics. The writing is lively, opinionated, and informative.
This interesting and provocative collection of essays addresses most if not all of the key current policy issues in open economy macroeconomics: the strong dollar, LDC debt problems, and deficit financing. Although these three areas involve widely different policy problems, Dornbusch brings a common political economy perspective to bear on the issues, giving the essays a coherent perspective and revealing that more than ever, modern macroeconomics is useful as a framework for active policy. Professionals interested in the world economy and students of international finance will appreciate the author's strong analytical approach and the clear, cogent defense of his viewpoints.Three chapters in the book's first part, Exchange Rate Theory and the Overvalued Dollar, cover the rise in the dollar, equilibrium and disequilibrium exchange rates, and flexible exchange rates and interdependence. Those in the second part, The Debt Problems of Less Developed Countries, present three case studies in overborrowing, and discuss the world debt problem from 1980 to 1984 and beyond, and what we have learned from stabilization policy in developing countries. A concluding part, Europe's Problems of Growth and Budget Deficits, takes up public debt and fiscal responsibility, and sound currency and full employment.Rudiger Dornbusch is Ford International Professor of Economics at MIT. Dollars, Debts, and Deficits is based on three related lectures he gave in 1984 at the University of Leuven in the Gaston Eyskens Lecture Series. Dornbusch is the editor with Mario Henrique Simonsen of Inflation, Debt, and Indexation, available in paperback from The MIT Press.
Dornbusch, Fischer, and Startz has been a long-standing, leading intermediate macroeconomic theory text since its introduction in 1978. This revision retains most of the text's traditional features, including a middle-of-the-road approach and very current research, while updating and simplifying the exposition. A balanced approach explains both the potential and limitations of economic policy. Macroeconomics employs a model-based approach to macroeconomic analysis and demonstrates how various models are connected with the goal of giving students the capacity to analyze current economic issues in the context of an economic frame of reference. The only pre-requisite continues to be principles of economics.
Economics affects almost everything we do: from our decisions at work to our shopping habits, voting preferences and social attitudes. This new edition of the popular text by David Begg and Gianluigi Vernasca enables the reader to understand today's economic environment by examining the underlying theory and applying it to real-world situations. Economics surveys the latest ideas and issues, such as the role of regulation in banking, the consequences of globalization and monetary union, and the efficacy of our current economic models. This coverage, combined with a rich array of pedagogical features, encourages students to explore our economic past and present, and to think critically about where this might lead us in the future. The new edition is updated to provide a comprehensive analysis of the financial crash: its causes, consequences, and possible policy responses, from fiscal stimulus to quantitative easing.
The third edition of Dornbusch's Macroeconomics is a leading intermediate macroeconomic theory text. This revision retains most of the traditional features, including a middle-of-the-road approach and very current research, while updating and simplifying the exposition. A completely new chapter on big events pulls together material on the Great Depression, budget deficits and hyperinflation. Students will get a background on these important economic events and will learn principles which are harder to identify in smoothly running economies. Macroeconomics maintains strong global coverage, offering an extensive international orientation for an increasingly globalised world.
Dornbusch, Fischer, and Startz Macroeconomics has been a leading intermediate macroeconomic theory text since its introduction in 1978. This revision retains most of the texts traditional features, including a middle-of-the-road approach and very current research, while updating and simplifying the exposition. The text is now even easier to teach from. The only prerequisite continues to be principles of economics.
Dornbusch, Fischer, and Startz has been a long-standing, leading intermediate macroeconomic theory text since its introduction in 1978. This revision retains most of the text's traditional features, including a middle-of-the-road approach and very current research, while updating and simplifying the exposition. A balanced approach explains both the potential and limitations of economic policy. Macroeconomics employs a model-based approach to macroeconomic analysis and demonstrates how various models are connected with the goal of giving students the capacity to analyze current economic issues in the context of an economic frame of reference. The only pre-requisite continues to be principles of economics.
This is a text for all students of introductory economics at undergraduate or postexperience level. It may be used for a one year course and includes a recommended contents outline for a shortened or modular course.
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