Macroeconomics for Professionals: A Guide for Analysts and Those Who Need to Understand Them
by Leslie Lipschitz (Author), Susan Schadler  (Author)

About the Author
Leslie Lipschitz was an econo-mist 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.

About this book
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 econo-mists and all those required to evaluate economic analysis.

Brief contents
1 Introduction, Motivation, and Overview 1
2 Real Economic Activity 7
    1 The Supply Side 10
    2 The Demand Side 28
    3 Playing with the Concepts: Macroeconomic Shocks and Policy Responses 45
    4 Exercises 51
3 Inflation, Relative Prices, and Expectations 53
    1 The Price Level, Inflation, and Deflation 55
    2 Macroeconomic Aspects of Relative Prices 61
    3 Intertemporal and International Linkages: Interest Rates and Expectations 82
    4 Exercises 92
4 Monetary Policy and Accounts 95
    1 Monetary Policy Frameworks 96
    2 Policymaking under IT 108
    3 Reading the Monetary Accounts 114
    4 Countercyclical Policy and the Central Bank Balance Sheet in Practice 120
    5 Monetary Policy and Vulnerabilities 128
    6 Exercises 141
5 The Fiscal System 147
    1 The Government Accounts 149
    2 Assessing the Macroeconomic Effects of Fiscal Policy 159
    3 Fiscal Rules: A Bulwark against Short-Term Political Pressures 183
    4 Thought Experiments 186
    5 Exercises 188
6 Financial Stability 191
    1 Bank Regulation: An Intuitive Sketch of Prudential Considerations 193
    2 Bank Regulation: Terms, Definitions, and Difficulties 196
    3 The Anatomy of an EM Balance Sheet Crisis 206
    4 Balance Sheet Crises and Financial Assessment in Advanced Countries 215
    5 Exercises 223
7 The External Accounts 225
    1 Understanding the External Accounts 226
    2 The Main Objectives of External Account Analysis 239
    3 External Vulnerability and Risk Assessment 256
    4 Exercises 264
Index 268

Length: 278 pages
Publisher: Cambridge University Press (March 31, 2019)
Language: English
ISBN-10: 1108449832
ISBN-13: 978-1108449830