In this important and provocative reassessment of the causes and consequences of economic downturns and stagnation, Roger Farmer argues that the central problem is recurring and debilitating crises of confidence in the stock market. The instability caused by the animal spirits creates unemployment and disruptions that have long-term effects. To create stability Farmer proposes that governments intervene in asset markets in a manner similar to the recent behavior of central banks. Written in clear, accessible language by a prominent macroeconomic theorist, Prosperity for All proposes a paradigm shift and policy changes that could successfully raise employment rates, keep inflation at bay, and stimulate growth.

Prosperity For All: How To Prevent Financial Crises

Business & Money

Farmer, Roger

Economics

Oxford University Press

Expectations, Employment and Prices brings Keynesian economics into the 21st century by providing a new paradigm that explains how high unemployment could potentially persist forever without a little help from the government. The book fills in logical gaps that were missing from Keynes' General Theory of Employment Interest and Money by reconciling some of its key ideas with modern economic theory. Central bankers throughout the world are talking now about developing a second instrument of monetary policy in addition to controlling the interest rate. Roger Farmer directly addresses this issue and offers new creative monetary policy proposals and suggestions for the design of new financial institutions for the 21st century.

Expectations, Employment and Prices

The monetary side of domestic and international economic policy has generated increasingly intense debate and concern within and among the major industrial countries over the last several years. Recently, the Bank of Japan's Institute for Monetary and Economic Studies brought together leading academics and prominent economists of central banks and international organizations to analyze and discuss the key problems and issues of monetary policy of developed countries. Collected in this volume are their original contributions: eight essays that cover monetary policy in an uncertain world, domestic and international aspects of monetary policy, and policies to overcome stagflation. In particular, they recognize and provide a lively forum for the different views of academic and central bank economists.The essays are "Monetarism in Rhetoric and in Practice," by Milton Friedman; "Monetary Policy in an Uncertain World," by James Tobin; "The Conduct of Domestic Monetary Policy," by Robert Gorden; "Monetary Policy in Postwar Japan," by K. Hamada and F. Hayashi; "Monetary Policy in the Large Open Economy," by Michael Darby; "Alternative Approaches to Exchange-Rate Determination and Some Implications of the Structural Balance-of-Payments Approach for International Macroeconomic Interdependence," by Akihiro Amano; "'Reaganomics' and Credibility," by Thomas Sargent; and "Coordination of Monetary and Fiscal Policies," by Albert Ando.

Monetary Policy in Our Times

Ando, Albert

Eguchi, Hidekazu

Mit Pr

Combining the best of traditional and modern approaches to macroeconomics, Farmer's is the first book in the Intermediate market to genuinely fill the gap between the macroeconomics taught to graduate students and the macroeconomics traditionally taught to undergraduates. It begins with the traditional IS-LM and AD-AS models that have been the staples of undergraduate macro courses for decades. Then the second half of the book introduces newer, dynamic theories of macroeconomics, including various growth models. The result is a text that describes the emerging consensus view of macro.

Macroeconomics with Macro Tools CD-ROM

South-Western College Pub.

The Study Guide provides a variety of review materials and problems that will help students master macroeconomics. Solutions are provided.

Macroeconomics (Study Guide)

Cengage Learning'

MACROECONOMICS is a well-written, flexible introduction to macroeconomic theory and policy. It covers the Classical and Keynesian approaches, as well as newer dynamic models of debt, deficits, growth, unemployment, and inflation. In 17 chapters, it presents a complete survey of modern macroeconomic thinking, including the modern theories of macroeconomic dynamics. It has a unique emphasis on data and testing macro theories against macro facts.

Macroeconomics

The Study Guide, written by Jang-Ting Guo of the University of California, Riverside and Shankha Chakraborty of UCLA, provides a variety of review materials and problems that will help students master macroeconomics. Solutions are provided.

Study Guide for Macroeconomics

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