Institutions, Instability, and Inequality
This textbook by Wendy Carlin and David Soskice covers macroeconomic theories with a practical approach. It is aimed at university students and helps them understand the role of institutions, inequality, and financial systems within contemporary macroeconomic policy.
Description
Carlin and Soskice connect students with current macroeconomic research and policy issues. Their comprehensive three-equation model, including financial systems and inequality, provides a clear and usable framework for analyzing economic instability and inequality.
The book discusses economic cycles, monetary and fiscal policy, and open economies, including the effects of shocks such as the Euro crisis and climate-related issues. It also explains the integration of financial and economic cycles, with an emphasis on policy design after the financial crisis of 2008–2009.
Features
- Accessible overview of the latest macroeconomic themes and policy debates
- Integration of inequality through incomplete contracts in labor and credit markets
- A three-equation model that brings together the demand side, the supply side, and policymakers
- Coverage of fixed and flexible exchange rate regimes, with attention to oil and climate disruptions
- Extensive focus on the financial system and macroprudential policy
- Research into technological change and innovation and their impact on work and inequality
- Chapter on contemporary quantitative research, including the HANK model
- Practice questions and assignments for deeper understanding and analytical skills
Product information
- Author: Wendy Carlin (Professor of Economics, University College London and External Professor, Santa Fe Institute)
- Publisher: Oxford University Press
- Publication date: 29 January 2024
- Number of pages: 1024
- ISBN: 9780198838661
- Theme: Macroeconomics
- BISAC: BUSINESS & ECONOMICS / Economics / Macroeconomics
About the authors
Wendy Carlin is Professor of Economics at University College London and External Professor at the Santa Fe Institute. She leads the CORE Econ project and coordinates research on welfare concentration, inequality, and economic dynamics.
David Soskice is Emeritus Professor at the London School of Economics and Political Science.