Options
Understanding and teaching macroeconomic crises
Type
applied research project
Start Date
01 January 2009
End Date
26 July 2014
Status
ongoing
Keywords
-
Description
-
Leader contributor(s)
Member contributor(s)
Funder(s)
Topic(s)
-
Method(s)
-
Range
Institute/School
Range (De)
Institut/School
Division(s)
Eprints ID
68366
10 results
Now showing
1 - 10 of 10
-
-
PublicationIs there a transatlantic divide in undergraduate macroeconomics teaching?(School of Economics and Political Science, 2013-09-23)The global financial crisis triggered different policy responses in Europe and the United States. Interestingly, survey results suggest that there is also a significant difference in how undergraduate macroeconomics instructors responded to the crisis, with U.S. instructors placing significantly more emphasis on financial topics than their European peers. This note considers whether such differences may be attributed to differences in instructors' profiles and teaching environments. The results suggest that, rather than explaining this gap, the transatlantic divide becomes even wider when analyzed in a multivariate setting. [http://ideas.repec.org/p/usg/econwp/201322.html Volltext herunterladen]Type: discussion paperIssue: 2013-22
-
PublicationTeaching Macroeconomics after the Crisis: A Survey among Undergraduate Instructors in Europe and the U.S(School of Economics and Political Science, 2011-06-08)An online survey among undergraduate macroeconomics instructors reveals that roughly half of them were scared when the crisis erupted and remain wary that more may be in the offing. As regards teaching, courses feature much the same lineups of models as they did before the crisis. A striking change concerns public debt dynamics, which receives much more emphasis. Regarding the finer fabric of undergraduate macro teaching, exciting things are going on. A host of topics related to financial markets has entered the curriculum, and there is more interest in economic history, the history of economic thought and case studies. [http://ideas.repec.org/p/usg/econwp/201120.html Volltext herunterladen]
-
-
-
PublicationType: newspaper articleJournal: St. Galler TagblattVolume: 2011Issue: nicht bekannt
-
PublicationThe macroeconomics of financial crises : How risk premiums, liquidity traps and perfect traps affect policy optionsThe paper offers an overview of what structural models of the IS-LM and Mundell-Fleming variety can tell about the macroeconomics of economic crises. In addition to demonstrating how the emergence of risk premiums in money and capital markets can generate liquidity traps at positive interest rates and may drive economies into recessions, it shows the following: (1) Fiscal policy works even in a small, open economy under flexible exchange rates when the country is stuck in a liquidity trap; (2) Near the fringe of liquidity traps, there may be perfect traps, in which neither monetary nor fiscal policy works when used in isolation but policy coordination is called for; and (3) Massive financial crises in the domestic money market may even destabilize the economy.Type: journal articleJournal: International Advances in Economic ResearchVolume: 17Issue: 1
Scopus© Citations 1 -
PublicationClothes for the Emperor or Can Research Learn from Undergraduate Macroeconomics?The current crisis is not only one of financial markets, but also of macroeconomics. Leading scholars call for a paradigm shift away from dynamic general equilibrium models, though some argue that the profession's arsenal already contains the tools and historical lessons needed to deal with such crises. Taking this view to the limit, this note demonstrates that the workhorse models of undergraduate macroeconomics not only permit a refined view and classification of financial crises. These models also identify scenarios under which either policymakers would be ill advised to follow conventional prescriptions, or full-scale depressions loom that cannot be fought by means of fiscal or monetary policy alone.Type: journal articleJournal: KyklosVolume: 64Issue: 1
-
PublicationTeaching Macroeconomics After the Crisis : A Survey Among Undergraduate Instructors in Europe and the United StatesThe Great Recession raised questions of what and how macroeconomists teach at academic institutions around the globe, and what changes in the macroeconomics curriculum should be made. The authors conducted a survey of undergraduate macroeconomics instructors affiliated with colleges and universities in Europe and the United States at the end of 2010. The results show that courses feature very much the same lineups of models as they did before the crisis. A notable exception concerns public debt dynamics, which receives considerably more emphasis. The finer fabric of undergraduate macroeconomics teaching, however, shows substantial shifts: a host of topics related to financial markets has entered the curriculum, and there is more interest in economic history, the history of economic thought and case studies. [http://ideas.repec.org/p/usg/econwp/201120.html Link zum zugrunde liegenden Diskussionspapier]Type: journal articleJournal: The Journal of Economic EducationVolume: 44Issue: 4
Scopus© Citations 19 -
PublicationThe macroeconomics of financial crises for undergraduatesThe current financial crisis is also a challenge for undergraduate macroeconomics instruction (The Economist, March 2010). We show that workhorse models of undergraduate macroeconomics, creatively applied and properly enriched with elements introduced back in Keynes' time, teach us a great deal about the current crisis and help prepare for future financial crises.Type: journal articleJournal: International Advances in Economic ResearchVolume: 16Issue: 4