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The global financial crisis triggered severe shocks for developing countries, whose embrace of greater commercial and financial openness has increased their exposure to external shocks, both real and financial. This new edition of Development Macroeconomics has been fully revised to address the more open and less stable environment in which developing countries operate today. Describing the latest advances in this rapidly changing field, the book features expanded coverage of public debt and the management of capital inflows as well as new material on fiscal discipline, monetary policy regimes, currency, banking and sovereign debt crises, currency unions, and the choice of an exchange-rate regime. A new chapter on dynamic stochastic general equilibrium (DSGE) models with financial frictions has been added to reflect how the financial crisis has reshaped our thinking on the role of such frictions in generating and propagating real and financial shocks. The book also discusses the role of macroprudential regulation, both independently and through its interactions with monetary policy, in preserving financial and macroeconomic stability. Now in its fourth edition, Development Macroeconomics remains the definitive textbook on the macroeconomics of developing countries. The most authoritative book on the subject—now fully revised and expanded Features new material on fiscal discipline, monetary policy regimes, currency, banking and sovereign debt crises, and much more Comes with online supplements on informal financial markets, stabilization programs, the solution of DSGE models with financial frictions, and exchange rate crises
Teaches students how macroeconomics is studied and applied in the 21st century.
When looking to bridge the gap between global economic events and their own daily lives, Americans have increasingly turned to Paul Krugman. His lucid grasp of economics in action and his uncanny way of translating complex issues into everyday terms have made him a bestselling author and the most widely read economist writing for the general public today. That ability to communicate economic concepts clearly and engagingly is at the heart of Macroeconomics, coauthored by Krugman and Robin Wells. The new Second Edition of this bestselling introductory level text (available January 2009) offers more of Krugman’s signature voice, more coverage of policy, and an extraordinary amount of new examples and explanations, as well as a number of content and organizational changes that are meeting the approval of instructors nationwide. Watch a video interview of Paul Krugman here.
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.

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