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Understanding macroeconomic developments and policies in the twenty-first century is daunting: policy-makers face the combined challenges of supporting economic activity and employment, keeping inflation low and risks of financial crises at bay, and navigating the ever-tighter linkages of globalization. Many professionals face demands to evaluate the implications of developments and policies for their business, financial, or public policy decisions. Macroeconomics for Professionals provides a concise, rigorous, yet intuitive framework for assessing a country's macroeconomic outlook and policies. Drawing on years of experience at the International Monetary Fund, Leslie Lipschitz and Susan Schadler have created an operating manual for professional applied economists and all those required to evaluate economic analysis.
List of contents
1. Introduction, motivation, and overview; 2. Real economic activity; 3. Inflation, relative prices, and expectations; 4. Monetary policy and accounts; 5. The fiscal system; 6. Financial stability; 7. The external accounts.
About the author
Leslie Lipschitz was an economist at the International Monetary Fund (IMF) for more than thirty-five years. He served as Director of the IMF Institute, taught at the School of Advanced International Studies at The Johns Hopkins University and at Bowdoin College, Maine, was a guest scholar at the Brookings Institution, worked and consulted with private financial institutions, and has written, spoken, and published widely on open-economy macroeconomics.Susan Schadler was an economist at the International Monetary Fund (IMF)for over thirty years. Her published articles and books cover exchange rate policies, economic growth and crises, how countries adjust in crises, and the integration of Eastern and Western Europe. Since leaving the IMF, she has been a senior member of St Antony's College, Oxford, senior fellow at the Atlantic Council and the Centre for International Governance Innovation, and a consultant for the IMF's Independent Evaluation Office.
Summary
An excellent reference for applied economists, Macroeconomics for Professionals offers a guide to the practical tools of macroeconomic analysis, explaining succinctly the mainstream analytic frameworks for assessing developments and policies.
Report
'Leslie Lipschitz and Susan Schadler provide a superb road map for assessing a country's policies. It is relevant not only for new IMF economists but also for analysts in investment banks, rating agencies, finance ministries, and central banks, as well as for economic journalists seeking to bridge the gap between theory and real-world practice.' Peter Heller, Finance & Development
