Download Handbook of Macroeconomics, Volume 2A-2B SET by John B. Taylor, Harald Uhlig PDF

By John B. Taylor, Harald Uhlig

Handbook of Macroeconomics Volumes 2A and 2B surveys significant advances in macroeconomic scholarship because the e-book of quantity 1 (1999), rigorously distinguishing among empirical, theoretical, methodological, and coverage concerns, together with economic, financial, and regulatory guidelines to house crises, unemployment, and financial progress. As this quantity exhibits, macroeconomics has passed through a profound swap because the e-book of the final quantity, due in no small half to the questions thrust into the highlight by means of the global monetary main issue of 2008. With contributions from the world’s major macroeconomists, its reevaluation of macroeconomic scholarship and evaluation of its destiny represent an funding worthy making.

  • Serves a double position as a textbook for macroeconomics classes and as a gateway for college kids to the newest research
  • Acts as a exceptional source as no significant collections of macroeconomic essays were released within the final decade
  • Builds upon quantity 1 through the use of its part headings to demonstrate simply how a ways macroeconomic suggestion has evolved

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Additional info for Handbook of Macroeconomics, Volume 2A-2B SET

Example text

22 The spread of economic growth since 1870. L. 2014. The Maddison Project: collaborative research on historical national accounts. Econ. Hist. Rev. 67 (3), 627–651. 1978 raises China’s living standards to more than a factor of 25 over the benchmark level of $300 per year. Fig. 22 shows the spread of growth since 1870 in an alternative way, by plotting incomes relative to the US level. A key fact that stands out when the data are viewed this way is the heterogeneity of experiences. Some countries like the United Kingdom, Argentina, and South Africa experience significant declines in their incomes relative to the United States, revealing the fact that their growth rates over long periods of time fell short of the 2% growth rate of the frontier.

S. Bureau of Economic Analysis via FRED database. “Software and entertainment” combines both private and public spending. “Entertainment” includes movies, TV shows, books, and music. With this in mind, Fig. 9 shows spending on research and development, as a share of GDP, for the United States. These data can now be obtained directly from the National Income and Product Accounts, thanks to the latest revisions by the Bureau of Economic Analysis. ” This category includes traditional research and development, spending on computer software, and finally spending on “entertainment,” which itself includes movies, TV shows, books, and music.

It stayed at this low level until around 1980. But then a very large difference emerged, with top income shares rising in the United States to essentially the same level as in 1920, while the share in France remains relatively low. q It is also worth stepping back to appreciate the macroeconomic consequences of this inequality. Fig. 19 merges the Piketty–Saez top inequality data with the long-run data on GDP per person for the United States shown at the start of this paper in Fig. 1. r q r Possible explanations for this pattern are discussed by Castaneda et al.

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