Macroeconomic Patterns and Stories
Seasoned US economist Edward Leamer argues here that "We are pattern-seeking story-telling animals." He provides in this book the patterns that are the basis for his understanding of what drives the business cycle and what determines long-run economic growth.
Paperback, 360 pages
Published October 14th 2010 by Springer
(first published December 5th 2008)
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After the introduction, Part II explains the key macro-economic variables for the US in separate chapters. Part III comes in 4 subparts where the first one on “Recession Symptoms” explains the concept of idleness and key indicators of recessions. In sub-part “Recession Stories” deals with unemployment and the concept of “accelerators” during the business cycle, based on the concept of abnormal contributions of growth. In sub-part “Recession Early Warning Signs” Leamer explores possible leading i...more