Top positive review
10 people found this helpful
Excellent, but proceed with caution
on 14 November 2006
There's no doubting that this is a thorough text excellently written, covering all the main points. The only problem with it is is it's New Keynesian bias. For example, it fleetingly dismisses the Sargent and Wallace Policy ineffectiveness Proposition without really explaining why one might do so, and subsequently does not explore Fisher's critique. Definitely a must for anyone with an interest in macroeconomics, but this should be one of a "portfolio" of texts on the subject.