Applied Macroeconomics: Employment, Growth and Inflation
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Applied Macroeconomics: Employment, Growth and Inflation

Author : Vivek Moorthy
© Year : 2017
ISBN : 9789385909047
Pages : 260
Binding : Paperback
Weight : 0.49   kg

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  • About the Book
  • Salient Features
  • Table of Contents
  • About the Author

Unlike traditional textbooks, this book develops a conceptual framework, historically and theoretically, for a growing economy.  Based on simple models with numerical examples, it applies concepts from classical macroeconomics to interpret economic events and data in USA and India over several decades, and some other Asian economies also. 

Develops an integrated framework, combining short-run fluctuations with long-run growth, unlike widely used textbooks that treat these topics separately.

  • Works out growth arithmetic for relevant variables, instead of the usual graphical treatment in main texts.
  • Critically evaluates alternative approaches to growth and development
  • emphasizes the role of property rights, title to land, and labour supply constraints.
  • investigates the impact of Ease of Doing Business rank upon GDP growth. Expounds a classical macroeconomics approach and related concepts.
  • Provides wide ranging evidence on the natural rate hypothesis and the expectations augmented Phillips curve, integrating the latter with a demand based approach to inflation. 
  • Puts together evidence challenging the conventional view that the mid-1970s stagflation was due to the October 1973 quadrupling of oil prices.
  • Examines India's stagflation episode, using these concepts. 
Should be useful for academics, business and financial analysis, policy makers and others following India.
  • Evaluates the role of policy paralysis, National Rural Employment Guarantee Act of 2006, minimum support price system in agriculture and Reserve Bank of India policies with regard to food prices, inflation and growth, for the ten-year period ending 2013.
  • Includes a Data Appendix, written before India's controversial new GDP series in January 2015, followed by an update assessing these revisions a year later. 
Can be used for a course on the Indian economy or emerging economies.
  • Incorporates research done at IIM Bangalore on food inflation.
  • Analyses the boom and subsequent slowdown of BRIC economies, and compares growth and inflation trends in China, India and major ASEAN countries. 
The last chapter analyzing India's demonetization covers fiscal, monetary and banking aspects.
 
With a detailed Subject, this book this book can serve as a handy reference or text for many of the topics covered here.

Chapter 1: Building the Framework for a Growing Economy
Chapter 2: From Short-Run to Long-Run Phillips Curve
Chapter 3: The Costs and Consequences of Inflation
Chapter 4: Cost Push versus Demand Pull Inflation
Chapter 5: OPEC and the Great Stagflation
Chapter 6: Emerging Economies: Rapid Rise to Slowdown
Chapter 7: Dissecting India's Stagflation Episode
Chapter 8.  Analysing India's Demonetisation
 

Vivek Moorthy :- is Professor of Economics.  He obtained his Masters at Jawaharlal Nehru University with first rank, taught briefly at St Stephens College, Delhi, and then obtained his doctorate in economics from the University of California, Los Angeles.  He taught at Pennsylvania State University and then joined the Federal Reserve Bank of New York.   He was initially in Domestic Research, working on US economy projections for the Federal Open Market Committee that sets monetary policy, and later Senior Economist in Foreign Exchange Analysis at the New York Fed before joining IIMB. Details of all his works can be found at http://www.economicsperiscope.com/

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