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Product Description
Product Description
This intermediate level textbook concentrates on macroeconomic analysis and is one of the first to focus on imperfectly competitive labour and product markets. The authors present a `new Keynesian' treatment of macroeconomics. Its key characteristic is the use of wage bargaining and price-setting under imperfect competition, making product and labour market assumptions closer to the real world. These features are fully integrated in both closed and open economy analysis. The book provides access both to the important applied work on unemployment, inflation, and external balances, and to the journal literature on major questions of economic policy and performance, especially in Western Europe, available to undergraduates and non-specialists for the first time.
About the Author
Wendy Carlin is at University College London. David Soskice is at Wissenschraft Szentrum, Berlin.
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3 reviews
4 of 4 people found the following review helpful
A book on relevant economic theory
18 Mar 2000
Format:Paperback
One of the best macroeconomics textbooks in the market.First of all it contains an excellent chronological survey of models. But above all, its approach based on wage bargain and mark-up pricing has great relevance in terms of real world phenomena, in contrast to most mecroeconomic textbooks based in the unrealistic competitive model. The main contribution is to set an scenario for a feasible and intelligent social negotiation and for economic policy, instead of definitive "natural" outcomes of economic performance. I hope the authors keep on updating this book
Jorge Ibarra. National University of Mexico
2 of 2 people found the following review helpful
The best macroeconomics book for open economies.
20 Sep 2001
Format:Paperback
Most of the textbooks in macroeconomics (Blanchard, Mankiew and Gordon) focus on basic IS-LM and AS-AD models which are useless in open economies. This book is perfect upgrade for everybody who has read basic macroeconomics textbooks and wants to go further. There is economic history review, everithing is based on imperfect labour markets and salter-swan diagram is perfectly implemented in standard macroeconomics tools together with IS-LM model.
2 of 3 people found the following review helpful
the best book on (macro)economics I've ever read !
26 July 2002
Format:Paperback
Ten years ago, by coincidence, I saw this book. I bought it, and since then I have recommended it to all my colleagues.
At that time, the book was new and contained all the most recent developments in the journals (it ends with hysteresis - well explained and at that moment a brand new topic in the journals).
But what I find more important is that this is the only book I read where all those journal-stuff was fitted into a coherent frame-work; for the first time I really understood what macro-economics (and their micro foundations) was all about.
Up till then, I had seen only fragmented pieces of macro theory and here these authors came with a coherent view, which would have taken myself years to fit together, and I was sorry that this was not the handbook I had at university.
I don't follow-up this field anymore, and the book has not been updated anymore since then (a pity I think) but I write this review out of gratitute for the insights the authors gave me: I finally realized that in this book all the pieces were fitted together and allowed me to really understand macro-economics.
Personally, I can only recommend it.
At that time, the book was new and contained all the most recent developments in the journals (it ends with hysteresis - well explained and at that moment a brand new topic in the journals).
But what I find more important is that this is the only book I read where all those journal-stuff was fitted into a coherent frame-work; for the first time I really understood what macro-economics (and their micro foundations) was all about.
Up till then, I had seen only fragmented pieces of macro theory and here these authors came with a coherent view, which would have taken myself years to fit together, and I was sorry that this was not the handbook I had at university.
I don't follow-up this field anymore, and the book has not been updated anymore since then (a pity I think) but I write this review out of gratitute for the insights the authors gave me: I finally realized that in this book all the pieces were fitted together and allowed me to really understand macro-economics.
Personally, I can only recommend it.
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