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Applied Macroeconomics for Public Policy applies system and control theory approaches to macroeconomic problems. The book shows how to build simple and efficient macroeconomic models for policy analysis. By using these models, instead of complex multi-criteria models with uncertain parameters, readers will gain new certainty in macroeconomic decision-making. As high debt to GDP ratios cause problems in societies, this book provides insights on improving economies during and after economic downturns.
- Provides a detailed analysis of existing macroeconomic models
- Addresses the dynamics of debt to GDP ratio and the effects of fiscal and monetary policy on this ratio
- Shows how to use models to evaluate the dynamics of the debt to GDP ratio in cases of government spending and tax cuts and to decide whether such economic measures are efficient
- Uses optimal theory to obtain optimal yearly debt levels to reach the established goals (decrease debt or balance budget)
- Provides many examples and software exercises to promote learning by doing
Upper-division undergraduates through professionals working on applied macroeconomics, monetary policy, computational economics, and economic growth
- Austerity and Stimulus Polices
2. Fiscal Stimulus Policy
3. How Dangerous Is National Debt
4. Realization of Established Goals
5. Debt Related Models Software
- No. of pages:
- © Academic Press 2018
- 22nd June 2018
- Academic Press
- Paperback ISBN:
- eBook ISBN:
Rafael Yanushevsky was born in Kiev, Ukraine. He received the MS in mathematics and in electro-mechanical engineering (with honors) from the Kiev University and the Kiev Polytechnic Institute, respectively, and his Ph.D. in optimization of multivariable systems from the Institute of Control Sciences of the USSR Academy of Sciences, Moscow, Russia. In December 1987 he started teaching at the University of Maryland, first in the department of electrical engineering, then in the department of mechanical engineering, and at the University of the District of Columbia, the department of Mathematics. Since 1999 he has been involved in projects related to the aerospace industry. In 2002 he received a Letter of Appreciation from the Department of the Navy, the Navy Area Theater Ballistic Missile Program. His company Research and Technology Consulting focuses on economic problems related to the 2008 economic crisis. It prepared a material for the Congressional Budget Office that showed how to check the efficiency of several proposals offered by a group of congressmen. He published with coauthors eight papers concerning the government fiscal policy in the period of high unemployment and debt, as well as effective decision making in the stock market.
President, Research and Technology Consulting
Camilla Yanushevsky received her education at the University of Maryland, College Park – Robert H. Smith School of Business and Bocconi School of Economics and Management. She works as a senior analyst for Standard & Poor's (S&P) Global Market Intelligence. Her research has appeared in The Wall Street Journal, CBC News, and Forbes. Her interests include macroeconomic theory, labor markets and unemployment, and political economy.
Senior Analyst, Standard and Poors, USA
"Applies system and control theory approaches to macroeconomic problems, considering spending, revenues, and interest rates as controls that influence a country’s economy. Provides basic facts about stimulus and austerity policies, paying special attention to the debt to GDP ratio." -Journal of Economic Literature
"Applied Macroeconomics for Public Policy provides a delightful guide to understanding the dynamics of public debt and the mechanisms of its control. Combined with an engineering view and software examples it is a very useful handbook for anyone entering or working in this area." --Dimitri Blüschke, Alpen-Adria-Universitat Klagenfurt
"Applied Macroeconomics for Public Policy successfully fills an underexplored niche in government policy analysis. By utilizing both continuous and discrete time optimal control models, the authors integrate theory and data within a refreshingly pragmatic approach that is highly effective in evaluating current fiscal policy approaches to debt management. The book stays focused on using the empirical macroeconomic techniques that are directly useful for judging historical and proposed fiscal policy, and the methodology is captivatingly interesting." --David Hudgins, Texas A&M University