Macroeconomic Policy

This book is an applications-orientedtext designed for individuals who desire a hands-on approach to analyzing theeffects of fiscal and monetary policies. Significantly updated to provide anunderstanding of the post-financial crisis economy, the third edition coversthe subprime crisis in detail, discussing monetary policies enacted in itswake, such as quantitative easing, tapering, carry trades, CMOs, and monetization.Even more globally oriented than previous editions, this volume links the GreatRecession and US Monetary Policy to global hot capital flows and currencypegs. This edition also revisits the Eurozone in significant detail;discussing its history, its macroeconomic design challenges, and its presentimperiled state, in the context of global macropolicy. Finally, thisvolume analyzes the "China syndrome" and explores the effects ofslower trend growth in China on the rest of the world. India, with itsdifferent-almost supply-side-approach to macropolicy is also studied in detail.The third edition contains several brand-new cases and media articles that arecarefully positioned to relate explicitly to theory, and to look ahead to andpreempt global macro situations and polices in the years to come. MBA students andExecutive MBA students who appreciate the importance of monetary and fiscalanalysis will find this text to be right on target. Financial analysts andindividual investors who need to strip away economic myths and jargon andsystematically examine and understand the effects of macro policies onvariables such as inflation, output, employment and interest rates, will alsofind the book extremely useful.