New Keynesian Economics, Vol. 1: Imperfect Competition and Sticky Prices (Readings in Economics)

Book Description

These two volumes bring together a set of important essays that represent a "new Keynesian" perspective in economics today. This recent work shows how the Keynesian approach to economic fluctuations can be supported by rigorous microeconomic models of economic behavior. The essays are grouped in seven parts that cover costly price adjustment, staggering of wages and prices, imperfect competition, coordination failures, and the markets for labor, credit, and goods. An overall introduction, brief introductions to each of the parts, and a bibliography of additional papers in the field round out this valuable collection.

Volume 1 focuses on how friction in price setting at the microeconomic level leads to nominal rigidity at the macroeconomic level, and on the macroeconomic consequences of imperfect competition, including aggregate demand externalities and multipliers. Volume 2 addresses recent research on non-Walrasian features of the labor, credit, and goods markets.

N. Gregory Mankiw is Professor of Economics at Harvard University. David Romer is Associate Professor of Economics at the University of California at Berkeley.

Contributors: George A Akerlof. Costas Azariadis. Laurence Ball. Ben S. Bernanke. Mark Bits. Olivier J. Blanchard. Alan S. Blinder. John Bryant. Andrew S. Caplin. Dennis W. Carlton. Stephen G. Cecchetti. Russell Cooper. Peter A. Diamond. Gary Fethke. Stanley Fischer. Robert E. Hall. Oliver Hart. Andrew John. Nobuhiro Kiyotaki. Alan B. Krueger. David M. Lilien. Ian M. McDonald. N. David Mankiw. Arthur M. Okun. Andres Policano. David Romer. Julio J. Rotemberg. Garth Saloner. Carl Shapiro. Andrei Shleifer. Robert M. Solow. Daniel F. Spulber. Joseph E. Stiglitz. Lawrence H. Summers. John Taylor. Andrew Weiss. Michael Woodford. Janet L. Yellen.

Theories of Imperfectly Competitive Markets

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Theories of Imperfectly Competitive Markets
Luis C. Corchon
Manufacturer: Springer
ProductGroup: Book
Binding: Hardcover

Strategy & Competition | Management & Leadership | Business & Investing | Subjects | Books

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ASIN: 3540411224

Book Description

This book presents the theory of Industrial Organization in a unified and concise way. It presents the main models and results in the area, using game theory as a unifying theoretical background. Besides corrections and new sections, the new edition contains a new chapter on games of incomplete information. More than 200 excercises help the reader to understand the results of the book.

Monopsony in Motion: Imperfect Competition in Labor Markets

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Monopsony in Motion: Imperfect Competition in Labor Markets
Alan Manning
Manufacturer: Princeton University Press
ProductGroup: Book
Binding: Paperback

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Wage Dispersion: Why Are Similar Workers Paid Differently? (Zeuthen Lectures)
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ASIN: 0691123284

Book Description

What happens if an employer cuts wages by one cent? Much of labor economics is built on the assumption that all the workers will quit immediately. Here, Alan Manning mounts a systematic challenge to the standard model of perfect competition. Monopsony in Motion stands apart by analyzing labor markets from the real-world perspective that employers have significant market (or monopsony) power over their workers. Arguing that this power derives from frictions in the labor market that make it time-consuming and costly for workers to change jobs, Manning re-examines much of labor economics based on this alternative and equally plausible assumption.

The book addresses the theoretical implications of monopsony and presents a wealth of empirical evidence. Our understanding of the distribution of wages, unemployment, and human capital can all be improved by recognizing that employers have some monopsony power over their workers. Also considered are policy issues including the minimum wage, equal pay legislation, and caps on working hours. In a monopsonistic labor market, concludes Manning, the "free" market can no longer be sustained as an ideal and labor economists need to be more open-minded in their evaluation of labor market policies. Monopsony in Motion will represent for some a new fundamental text in the advanced study of labor economics, and for others, an invaluable alternative perspective that henceforth must be taken into account in any serious consideration of the subject.

Imperfect Competition, Nonclearing Markets And Business Cycles (International Library of Critical Writings in Economics)

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Imperfect Competition, Nonclearing Markets And Business Cycles (International Library of Critical Writings in Economics)

Manufacturer: Edward Elgar Publishing
ProductGroup: Book
Binding: Hardcover

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ASIN: 1843760037

Topics in Microeconomics: Industrial Organization, Auctions, and Incentives

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lucid exposition and very modern focus
A Book for Academics
It is an excellent book

Topics in Microeconomics: Industrial Organization, Auctions, and Incentives
Elmar Wolfstetter
Manufacturer: Cambridge University Press
ProductGroup: Book
Binding: Paperback

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The Theory of Industrial Organization
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Competition Policy: Theory and Practice
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ASIN: 0521645344

Book Description

This book in microeconomics focuses on the strategic analysis of markets under imperfect competition, incomplete information, and incentives. Part I of the book covers imperfect competition, from monopoly and regulation to the strategic analysis of oligopolistic markets. Part II explains the analytics of risk, stochastic dominance, and risk aversion, supplemented with a variety of applications from different areas in economics. Part III focuses on markets and incentives under incomplete information, including a comprehensive introduction to the theory of auctions, which plays an important role in modern economics.

Customer Reviews:

lucid exposition and very modern focus.......2002-08-03

Wolfstetter has given us a book that is very much focused on modern microeconomic theory. It is indeed, as the title suggests, a "topics" book, not a universal micro theory textbook. For instance, he does not cover general equilibrium theory at all. But by concentrating on the fascinating newer insights of information economics and industrial economics, he is able to go deeper than most other textbooks, see for instance the outstanding chapter on auction theory. There is even a chapter on matching theory, a topic not usually covered in textbooks at all.

The reader from Pasadena is right when he says that this is a book for academics. This is the audience the book was written for. But this reader is highly unfair for blaming the book for the fact that he is not an academic. In fact, for academics, this is an excellent book, and clearly deserves 5 stars!

A Book for Academics.......2001-02-15

I believe it was George Bernard Shaw who said "every profession is a conspiracy against the laity." Topics in Microeconomics by Elmar Wolfstetter would fit this quotation. In between the very well written prose are scads of algebraic equations and supply and demand charts that only confuse most readers. This books is written for academics. On the back cover are kudos from other academics who are members of the self-congratulations society. I'm sorry I bought the book. Read Ronald Coase if you want to read an economist who avoids unnecessary abstractions.

It is an excellent book.......2000-04-22

This book provides an extremely thorough and comprehensive treatment of important topics in microeconomics. This work manages to be both rigorous and pleasant to read.

Market Structure and Foreign Trade: Increasing Returns, Imperfect Competition, and the International Economy

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Unavoidable

Market Structure and Foreign Trade: Increasing Returns, Imperfect Competition, and the International Economy
Elhanan Helpman , and Paul Krugman
Manufacturer: The MIT Press
ProductGroup: Book
Binding: Paperback

Exports & Imports | Economics | Business & Investing | Subjects | Books

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Advanced International Trade: Theory and Evidence
Theory of International Trade: A Dual, General Equilibrium Approach (Cambridge Economic Handbooks)
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The Spatial Economy: Cities, Regions, and International Trade

ASIN: 026258087X

Book Description

Market Structure and Foreign Trade presents a coherent theory of trade in the presence of market structures other than perfect competition. The theory it develops explains trade patterns, especially of industrial countries, and provides an integration between trade and the role of multinational enterprises.

Relating current theoretical work to the main body of trade theory, Helpman and Krugman review and restate known results and also offer entirely new material on contestable markets, oligopolies, welfare, and multinational corporations, and new insights on external economies, intermediate inputs, and trade composition.

Elhanan Helpman is Professor of Economics at Tel Aviv University. Paul Krugman is Professor of Economics at MIT

Customer Reviews:

Unavoidable.......2000-06-22

If you want an introduction to international economics this book is not what you would want. If, on the other hand, you need both the key concepts of classical trade theory and a comprehensive overview of the issues of new trade theory, all nice and neat in unified notation, this book is a must.

The Economics of Imperfect Competition (Joan Robinson)

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The Economics of Imperfect Competition (Joan Robinson)
Joan Robinson
Manufacturer: Palgrave Macmillan
ProductGroup: Book
Binding: Paperback

Theory | Economics | Business & Investing | Subjects | Books

History of Ideas | Historical Study | History | Subjects | Books
ASIN: 0333102894

Average customer rating:

THE ECONOMICS OF IMPERFECT COMPETITION.

Manufacturer: Macmillan
ProductGroup: Book
Binding: Hardcover
ASIN: B000GZ9FI2

Imperfect Competition, Differential Information, and Microfoundations of Macroeconomics (Clarendon Paperbacks)

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Imperfect Competition, Differential Information, and Microfoundations of Macroeconomics (Clarendon Paperbacks)
Kiyohiko G. Nishimura
Manufacturer: Oxford University Press, USA
ProductGroup: Book
Binding: Paperback

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ASIN: 019829039X

Book Description

The past two decades witnessed a substantial change in the field of macroeconomics. The fall of the Keynesian approach after the inflationary episode of the 1970s was followed by the rise of the New Classical approach, but the new Classical approach was overtaken in the 1980s by the Real Business Cycle and new Keynesian approaches. The driving force behind the change is a desire for a sound macroeconomic foundation for macroeconomic theory. This volume links a macroeconomic model of imperfectly informed firms and unions in monopolistic competition to a general theory of wage- and price-setting in a macroeconomic model. The analysis is based on a profit maximization and rational behaviour and is thus in line with the new Keynesian approach in its emphasis on the importance of imperfect competition in explaining macroeconomic phenomena. However, it explicitly considers the confounding effect of informational imperfection on prices and quantities, which was largely neglected in the New Keynesian approach of the 1980s. The volume goes on to explain three stylized facts in macroeconomics: nominal rigidity, real rigidity, and cost-orientated prices, presented in a coherent New Keynesian framework. The analysis also provides new insight into the role of competition in an economy with imperfectly and differentially informed firms. It shows that increased competition may increase nominal as well as real price rigidity and volatility of investment.

The Monopolistic Competition Revolution in Retrospect

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The Monopolistic Competition Revolution in Retrospect

Manufacturer: Cambridge University Press
ProductGroup: Book
Binding: Hardcover

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ASIN: 0521819911

Book Description

Avinash Dixit and Joseph Stiglitz revolutionized the modelling of imperfectly competitive markets and launched "the second monopolistic competition revolution". Experts in the areas of macroeconomics, international trade theory, economic geography, and international growth theory examine the success of the second revolution in this collection of papers. They reveal what appears to be "missing" and look forward to the next step in the modelling of imperfectly competitive markets. The text includes a comprehensive survey of the two monopolistic competition revolutions, and previously unpublished working papers by Dixit and Stiglitz that led to their famous 1977 paper.

Download Description

In 1977 a seminal paper was published by Avinash Dixit and Joseph Stiglitz that revolutionized the modeling of imperfectly competitive markets. It launched what might be called the second monopolistic competition revolution which has been far more successful than the first one, initiated by Edward Chamberlin and Joan Robinson in the 1930s. In this collection of original essays experts in the fields of macroeconomics, international trade theory, economic geography, and international growth theory address the question of why the second revolution was so successful. They also highlight what is missing, and look forward to the next step in the modeling of imperfectly competitive markets. The text includes a comprehensive survey of both monopolistic competition revolutions, and previously unpublished working papers by Dixit and Stiglitz that led to their famous 1977 paper. With original contributions from Dixit, Ethier, Neary and Stiglitz amongst others, this collection will excite interest amongst researchers, advanced students and economists.

Book Description

For professionals and students alike, the first-ever guide to newspaper copy editing and headline writing.

Everyone in the newsroom agrees that copy editors are the unsung heroes in the business who, until now, have never had a succinct and authoritative guide for on-the-job use. From counting the headline to line breaks, from decks to jumps, from editing numbers and photo captions to editing for organization, The Copy Editing and Headline Handbook is the complete source of essential information for the copy editor. Whether copy editing on a computer or on the printed page, for a newspaper or for a magazine, Barbara Ellis shows how to clean, organize, and proof copy like a pro. With special sections on libel, captions, forbidden words, job hazards, and head counts, as well as a section of the most commonly used symbols in copy editing and proofreading, the Handbook is essential for every copy editor's bookshelf.

Customer Reviews:

Copy editors may/might quibble but writers will love it.......2001-11-23

First: I bow to the professional opinions of earlier reviewers, copy-editors all, I suspect. They found fault (of course; it's what their profession does) with Dr. Ellis' book. I didn't. As a magazine journalist who has frequently struggled to tell a story well, I found her book useful, intelligent, and surprisingly entertaining. Her advice on how to pick a "hot quote" or how to end a hard news story are worth the price of admission.

Get me rewrite.......2001-09-19

I realize that anyone who writes a book about editing is practically drawing a bull's-eye on his or her back. (Yes, I know some people disapprove of "his or her" as a way to avoid pronoun disagreement; deal with it.) That said, I don't think it's unreasonable to expect that "a cold-eyed genius of a managing editor" would have his name spelled Carr Van Anda instead of "Carl." Not as bad as misspelling, say, "Webster." Or "AP." But honestly.

Sorry, but I just did not find this helpful either for its headline advice or its copy-editing insight. Nothing new."When Words Collide" is much more useful.

Fine For What It Is.......2001-08-22

This book is better than most of the books out there, but that isn't saying a whole lot. Virtues: 1) The book isn't too dogmatic. It recognizes that different copy desks have different policies. The most important style rule of all is that, "If your boss has a rule that's different from the AP rule, your boss is right." 2) Ellis talks a fair amount about the politics of editing. 3) Many of the revised examples are better than the originals. My experience with other copy editing books is that the edited versions tend to be as bad as the originals. Gripe: The book just isn't detailed enough to answer the questions you actually have when it's you against encroaching barbarism. The book is better than books like the Strunk and White book that focus solely on what literate people already know, but it doesn't, for example, discuss the word "like" the way I just used like. Yes, Winston cigarettes should taste good, *as* good cigarettes should, but is it really OK in semi-formal English to write "books like the Strunk and White book," or do I have to write "such as" in place of like? Another example is the hyphens in compound modifiers. Why does the Wall Street Journal hyphenate "real estate" and AP not hyphenate it, even though AP is the one promoting the use of hyphens in compound modifiers? What do you do about those horrible companies that capitalize their entire names, or insist on starting their names with strange symbols? I guess the lack of detail isn't really Ellis's fault. She's only one person and can only do so much. The problem is that doing a guide that answers all the questions needs to be a team effort. In theory, of course, the AP style book is supposed to be the bible, but the version available to the public is miserably incomplete. In a perfect world, the AP style committee would get together with all the other major style organizations, hire some top editors, linguists, etc., and come up with a really good style and usage encyclopedia. But, of course, they're all up against that encroaching barbarism problem, so I guess this is never going to happen.

Headlines and Deadlines: A Manual for Copy Editors

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Headlines and Deadlines: A Manual for Copy Editors
Robert E. Garst
Manufacturer: Columbia Univ Pr
ProductGroup: Book
Binding: Hardcover

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ASIN: 0231048165

The copyreader's workshop;: A text book for the school newspaper, with graded assignments in editing copy, building headlines, proofreading and make-up,

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The copyreader's workshop;: A text book for the school newspaper, with graded assignments in editing copy, building headlines, proofreading and make-up,
Harry Franklin Harrington
Manufacturer: D.C. Heath and Co
ProductGroup: Book
Binding: Unknown Binding

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ASIN: B00087B33I

Menu: Pricing & Strategy (Hospitality, Travel & Tourism)
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Menu: Pricing & Strategy (Hospitality, Travel & Tourism)
Jack E. Miller , and David V. Pavesic
Manufacturer: Wiley
ProductGroup: Book
Binding: Paperback

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Successful Catering: Managing the Catering Operation for Maximum Profit (The Food Service Professionals Guide, 12)

Noncommercial, Institutional, and Contract Foodservice Management

ASIN: 0471287474

Book Description

Now in its fourth edition, this popular guide to designing and pricing menus has even more information that will help turn your ordinary menu into a merchandising and cost control tool. Two of the industry's top hospitality educators, Jack Miller and Dave Pavesic, have teamed up to make this new edition the best book available on menu pricing and design. This revised edition includes New sections on the history of the restaurant industry The psychology of menu pricing and design How to write menu copy Use of coupons and discounts Demand and market driven pricing Menu sales mix analysis Expanded glossary of menu terms

Book Description

Protect yourself from personal liability, without the expense and delay of hiring a lawyer, by forming your own limited liability company. How to Form a Limited Liability Company in Florida contains everything you need to legally start an LLC in the state of Florida. This book will help make protecting your business a simple process that doesn't drain your vital time and capital. Complete with step-by-step instructions and the forms you need, this book makes forming your own limited liability company inexpensive and hassle-free. This book explains in simple language: Advantages and disadvantages of an LLC Securities laws Amending an LLC Whether an LLC is right for you Running your LLC Step-by-step procedures How to get more information Tax registrations It includes: Extensive law summaries for Florida, plus incorporation forms and minutes and resolutions you can use Explanations in simple English Complete Florida LLC statutes Website addresses for more information Ready-to-use forms

Customer Reviews:

How to form a Limited Liability Company in Florida.......2000-02-01

I purchased this book to help explain some of the complexities of an LLC and why there are so few in the State of Florida. The book answered all my questions and in fact explained that with the new laws in Florida, this is the only way to go. I was able to use the forms and send a check to the state the same evening and was registered within a week. A great savings over an attorney and I'm not at all sure I would have understood any where near as much had I gone to one. Most attorney's themselves are not LLC's but probably will be in the near future when they have had a chance to go over all the changes within the law.

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