Cover image for Macroeconomics : an integrated approach
Title:
Macroeconomics : an integrated approach
Author:
Auerbach, Alan J.
Personal Author:
Edition:
Second edition.
Publication Information:
Cambridge, Mass. : MIT Press, [1998]

©1998
Physical Description:
xix, 474 pages : illustrations ; 24 cm
Language:
English
Subject Term:
Added Author:
ISBN:
9780262011709
Format :
Book

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Library
Call Number
Material Type
Home Location
Status
Central Library HB172.5 .A85 1998 Adult Non-Fiction Central Closed Stacks
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Summary

Summary

Many undergraduate texts treat macroeconomics as a set of distinct topics rather than as a unified body of theory and empirical findings. In contrast, this text by Alan Auerbach and Laurence Kotlikoff uses a single analytic framework -- the two-period life-cycle model -- to explore and connect each of the major issues in contemporary macroeconomics. The model describes the evolution of the economy over time in terms of the behavior of overlapping generations of individuals, each of whom lives for two periods: youth and old age. This versatile framework can encompass most macroeconomic schools of thought through the alteration of key assumptions. The use of one basic model also allows the authors to explore important topics not always addressed adequately in other texts; these include credit constraints, real business cycles, generational accounting, and international capital flows markets.

Written in a clear, accessible style, this shortened and simplified second edition provides a systematic way to interpret macroeconomic outcomes, to understand various policy proposals, and to appreciate how individuals and firms fit into the big picture.


Author Notes

Laurence J. Kotlikoff is a professor of economics at Boston University and president of Economic Security Planning, Inc. He is the author or co-author of several books including Jimmy Stewart Is Dead: Ending the World's Ongoing Financial Plague with Limited Purpose Banking, The Clash of Generations: Saving Ourselves, Our Kids, and Our Economy, and Get What's Yours: The Secrets to Maxing Out Your Social Security.

(Bowker Author Biography)


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