Macroeconomics in the global economy

by Jeffrey D. Sachs, Felipe Larrain

Takes an open economy approach to macroeconomics, and includes macro theory at work in Russia, Poland and Bolivia.* a focus throughout the book on the global economy and the international aspects of macroeconomics recognizes that all economies in the world are linked through international markets for goods, services, and capital. Open-economy models are used throughout the book. * the ways that countries differ in their important macroeconomic institutions (such as in the patterns of wage setting) are carefully examined, and then those institutional differences are related to observed differences in macroeconomic performance. * recent advances in macroeconomic theory are covered, particularly regarding the role of expectations; the intertemporal choices of households, firms, and the government; and the modern theory of economic policy, including the problems of time consistency and international policy coordination. * boxed features examine topics of interest including "Social Security and Saving", "The Central Bank and Politics", "Currency Convertibility", "The Sacrifice Ratio and the Reagan Disinflation", and "Social Development and the Debt Crisis". * each chapter concludes with a Summary, Key Concepts, and Problems and Questions.

Genres: Economics, Nonfiction

778 pages, Hardcover

First published January 1, 1993

About the author

Jeffrey David Sachs, is an American economist, public policy analyst, and former director of the Earth Institute at Columbia University, where he holds the title of University Professor, the highest rank Columbia bestows on its faculty. He is known as one of the world's leading experts on economic development and the fight against poverty.

Sachs is the Quetelet Professor of Sustainable Development at Columbia's School of International and Public Affairs and a professor of health policy and management at Columbia's School of Public Health. As of 2017, he serves as special adviser to the United Nations (UN) Secretary-General António Guterres on the Sustainable Development Goals (SDGs), a set of 17 global goals adopted at a UN summit meeting in September 2015. He held the same position under the previous UN Secretary-General Ban Ki-Moon and prior to 2016 a similar advisory position related to the earlier Millennium Development Goals (MDGs), eight internationally sanctioned objectives to reduce extreme poverty, hunger and disease by the year 2015. In connection with the MDGs, he had first been appointed special adviser to the UN Secretary-General in 2002 during the term of Kofi Annan.

In 1995, Sachs became a member of the International Advisory Council of the Center for Social and Economic Research (CASE). He is co-founder and chief strategist of Millennium Promise Alliance, a nonprofit organization dedicated to ending extreme poverty and hunger. From 2002 to 2006, he was director of the United Nations Millennium Project's work on the MDGs. He is director of the UN Sustainable Development Solutions Network and co-editor of the World Happiness Report with John F. Helliwell and Richard Layard. In 2010, he became a commissioner for the Broadband Commission for Sustainable Development, whose stated aim is to boost the importance of broadband in international policy. Sachs has written several books and received many awards.

Reviews

[Daniel Villegas · Rating 5 out of 5]

Big text but we expected something more intensive in theory. Even a good review of Macroeconomics more intensive in text and cases than in a analytic structure and framework. It is important because many readers looks for a highly theoretical framework and others for a more complete, faster and applied review.

[Orlando Santos · Rating 4 out of 5]

Buen libro introductorio, con un enfoque menos centrado en EEUU como suelen ser muchos libros análogos.

[Stephen Siamai]

I came across Macroeconomics In The Global Economy in Graduate School at the University of Ghana, Legon, Accra, Ghana. That was 1999 - 2000 during my study of Economic Policy Management (EPM).
The book was recommended by one of our professors in our graduate program.

I like referring to the book; even in my work as Economist/Head of Balance of Payments (BOP) Unit/External Sector Statistics (ESS) in the Research, Policy and Planning Department of the Central Bank of Liberia (CBL), on Ashmun Street, Monrovia, Liberia, p.O. Box 2048.

If I can have access to the book on my desktop computer through goodreads, I will be pleased about it.

[Bill Zhou · Rating 5 out of 5]

My introduction to Macroeconomics.