Macro Models for Developing Countries (McGraw-Hill Series in Industrial Engineering and Management)

Business & Money

Taylor, Lance

Economics

McGraw-Hill Companies

Economic Structure and Essays in Honor of Hollis B. Chenery briefly reviews the work of Hollis Chenery in the field of economics. This book discusses the underlying themes in Chenery's work, including structure, strategy, adjustment, and models. Organized into four parts encompassing 26 chapters, this book begins with an overview of the patterns of structural change and their relation to growth. This text then examines the objectives, measures, and implementation of policy, as well as administrative capabilities and cultural characteristics. Other chapters compare Chenery's econometric analysis of development patterns with the historical analyses and suggest that the two approaches complement each other. This book discusses as well the persistence of disequilibrium in segments of the economy. The final chapter deals with simple criteria for detecting critical interdependencies and a formula for measuring their welfare consequences. This book is a valuable resource for economists, industrialists, foreign capitalists, and social scientists.

Economic Structure and Performance: Essays in Honor of Hollis B. Chenery

Syrquin, Moshe

Academic Pr

This book is a synthesis of recent work on the experiences of developing countries with stabilization programs. Critical of the orthodox "neoclassical" or "monetarist" approach of the IMF and the World Bank, the book advocates a structuralist macroeconomic theory approach, discussing how the IMF/World Bank market-oriented methodology can best be modified to deal with the macroeconomic linkages beyond its control, and how stabilization can be geared toward growth.

Varieties of Stabilization Experience: Towards Sensible Macroeconomics in the Third World (Wider Studies in Development Economics)

Oxford University Press

This book is a synthesis of recent work on the experiences of developing countries with stabilization programs. Critical of the orthodox "neoclassical" or "monetarist" approach of the IMF and the World Bank, the book advocates a structuralist macroeconomic theory approach, discussing how the IMF/World Bank market-oriented methodology can best be modified to deal with the macroeconomic linkages beyond its control, and how stabilization can be geared toward growth.

Varieties of Stabilization Experience: Towards Sensible Macroeconomics in the Third World (WIDER Studies in Development Economics)

Economic structuralists use a broad, systemwide approach to understanding development, and this textbook assumes a structuralist perspective in its investigation of why a host of developing countries have failed to grow at 2 percent or more since 1960. Sensitive to the wide range of factors that affect an economy's strength and stability, the authors identify the problems that have long frustrated growth in many parts of the developing world while suggesting new strategies and policies to help improve standards of living. After a survey of structuralist methods and post-World War II trends of global economic growth, the authors discuss the role that patterns in productivity, production structures, and capital accumulation play in the growth dynamics of developing countries. Next, it outlines the evolution of trade patterns and the effect of the terms of trade on economic performance, especially for countries that depend on commodity exports. The authors acknowledge the structural limits of macroeconomic policy, highlighting the negative effects of financial volatility and certain financial structures while recommending policies to better manage external shocks. These policies are then further developed through a discussion of growth and structural improvements, and are evaluated according to which policy options-macro, industrial, or commercial—best fit within different kinds of developing economies.

Growth and Policy in Developing Countries: A Structuralist Approach (Initiative for Policy Dialogue at Columbia: Challenges in Development and Globalization)

Ocampo, José Antonio

Rada, Codrina

Columbia University Press

Structuralist macroeconomics has emerged recently as the only viable theoretical alternative for economists and practitioners in developing countries. Lance Taylor's innovative work represents a landmark in this field. It codifies a new generation of structuralist macroeconomic models that incorporate the economic power relationships of key institutions and groups, integrates both finance and real macroeconomics, and covers a diverse range of experience in the developing world over the past three decades.In an introduction Taylor explains his methodology, describes assumptions underlying the models used, and reviews theories that relate economic growth and the role of financial assets. He then takes up basic structuralist models of a closed economy and moves on to consider the open economy cases. He incorporates the latest developments in the field (inflation, financial crisis, exchange rate management, increasing returns, and the like) in a treatment that departs substantially from economic orthodoxy.Taylor first addresses the question of how to specify.closure" or define the causal structure of macro models. He also considers how income redistribution influences growth and output and how income redistribution interacts with inflation. Next, an investment-driven non-full employment growth model draws on ideas introduced earlier to illustrate how different sorts of macroeconomic policies affect short-run adjustment and growth prospects over time. Taylor then turns to the problems proposed by economic openness in a stylized semi-industrialized country, starting with international trade. A fix-price/flex-price model is developed, and additional models demonstrate cases of policy relevance as well as interactions between class conflict and growth.Lance Taylor is Professor of Economics at MIT.

Income Distribution, Inflation, and Growth: Lectures on Structuralist Macroeconomic Theory

Mit Pr

Structuralist macroeconomics has emerged recently as the only viable theoretical alternative for economists and practitioners in developing countries. Lance Taylor's innovative work represents a landmark in this field. It codifies a new generation of structuralist macroeconomic models that incorporate the economic power relationships of key institutions and groups, integrates both finance and real macroeconomics, and covers a diverse range of experience in the developing world over the past three decades. In an introduction Taylor explains his methodology, describes assumptions underlying the models used, and reviews theories that relate economic growth and the role of financial assets. He then takes up basic structuralist models of a closed economy and moves on to consider the open economy cases. He incorporates the latest developments in the field (inflation, financial crisis, exchange rate management, increasing returns, and the like) in a treatment that departs substantially from economic orthodoxy. Taylor first addresses the question of how to specify "closure" or define the causal structure of macro models. He also considers how income redistribution influences growth and output and how income redistribution interacts with inflation. Next, an investment-driven non-full employment growth model draws on ideas introduced earlier to illustrate how different sorts of macroeconomic policies affect short-run adjustment and growth prospects over time. Taylor then turns to the problems proposed by economic openness in a stylized semi-industrialized country, starting with international trade. A fix-price/flex-price model is developed, and additional models demonstrate cases of policy relevance as well as interactions between class conflict and growth.

MIT Press]

Macroeconomics is in disarray. No one approach is dominant, and an increasing divide between theory and empirics is evident. 
This book presents both a critique of mainstream macroeconomics from a structuralist perspective and an exposition of modern structuralist approaches. The fundamental assumption of structuralism is that it is impossible to understand a macroeconomy without understanding its major institutions and distributive relationships across productive sectors and social groups. 
Lance Taylor focuses his critique on mainstream monetarist, new classical, new Keynesian, and growth models. He examines them from a historical perspective, tracing monetarism from its eighteenth-century roots and comparing current monetarist and new classical models with those of the post-Wicksellian, pre-Keynesian generation of macroeconomists. He contrasts the new Keynesian vision with Keynes's General Theory, and analyzes contemporary growth theories against long traditions of thought about economic development and structural change.

Reconstructing Macroeconomics: Structuralist Proposals and Critiques of the Mainstream

Harvard University Press

It is now widely agreed that mainstream macroeconomics is irrelevant and that there is need for a more useful and realistic economic analysis that can provide a better understanding of the ongoing global financial and economic crisis. Lance Taylor’s book exposes the unrealistic assumptions of the rational expectations and real business cycle approaches and of mainstream finance theory. It argues that in separating monetary and financial behavior from real behavior, they do not address the ways that consumption, accumulation, and the government play in the workings of the economy. 
Taylor argues that the ideas of J. M. Keynes and others provide a more useful framework both for understanding the crisis and for dealing with it effectively. Keynes’s basic points were fundamental uncertainty and the absence of Say’s Law. He set up machinery to analyze the macro economy under such circumstances, including the principle of effective demand, liquidity preference, different rules for determining commodity and asset prices, distinct behavioral patterns of different collective actors, and the importance of thinking in terms of complete macro accounting schemes. Economists working in this tradition also worked out growth and cycle models. 
Employing these ideas throughout Maynard’s Revenge, Taylor provides an analytical narrative about the causes of the crisis, and suggestions for dealing with it.

Maynard's Revenge: The Collapse of Free Market Macroeconomics

A critique of the free-market economic policies that have jolted Eastern Europe. It explains the failure of the simplistic market medicine administered in the first five years of transition, and proposes a sensible approach to reform, including a restructuring of the state itself so that it can play a more positive role in this transition. Annotation copyright Book News, Inc. Portland, Or.

The Market Meets its Match: Restructuring the Economies of Eastern Europe

Amsden, Alice

Kochanowicz, Jacek

See the best price to sell, buy, or rent books by Taylor, Lance. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by Taylor, Lance

See the best price to sell, buy, or rent books by Taylor, Lance. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Macro Models for Developing Countries (McGraw-Hill Series in Industrial Engineering and Management)

Economic Structure and Performance: Essays in Honor of Hollis B. Chenery

Varieties of Stabilization Experience: Towards Sensible Macroeconomics in the Third World (Wider Studies in Development Economics)

Varieties of Stabilization Experience: Towards Sensible Macroeconomics in the Third World (WIDER Studies in Development Economics)

Growth and Policy in Developing Countries: A Structuralist Approach (Initiative for Policy Dialogue at Columbia: Challenges in Development and Globalization)

Income Distribution, Inflation, and Growth: Lectures on Structuralist Macroeconomic Theory

Income Distribution, Inflation, and Growth: Lectures on Structuralist Macroeconomic Theory

Reconstructing Macroeconomics: Structuralist Proposals and Critiques of the Mainstream

Maynard's Revenge: The Collapse of Free Market Macroeconomics

The Market Meets its Match: Restructuring the Economies of Eastern Europe