Information for Innovation or Macroeconomics of Self fulfilling Prophecies

Information for Innovation: Managing Change from an Information Perspective

Author: Stuart Macdonald

Much is said about the information age, the information economy, the information society, and particularly about information technology, but little about information itself. Here, Stuart Macdonald finds information central to a variety of business/economics disciplines, from patents to high technology, from corporate strategy to industrial espionage. In doing so, he reveals the rather tricky role that information plays in current processes of innovation and change.

Interesting book: Hot Legs or Fed Up

Macroeconomics of Self-fulfilling Prophecies

Author: Roger A E Farmer

For many years it was fashionable to treat macroeconomics and microeconomics as separate subjects without looking too deeply at the relationship between the two. But in the 1970s there occurred an episode of high inflation and high unemployment, which was inconsistent with orthodox theory. As a result, macroeconomists began to pay much greater attention to the microfoundations of their subject.

In this book Roger E. A. Farmer takes a somewhat controversial point of view, arguing for the future of macroeconomics as a branch of applied general equilibrium theory. His main theme is that macroeconomics is best viewed as the study of equilibrium environments in which the welfare theorems break down. This approach makes it possible to discuss the role of government policies in a context in which policy may serve some purpose.

Since the publication of the first edition in 1993, self-fulfilling prophecies has become a major competitor to the real business-cycle view of economic fluctuations. The second edition has been updated in three ways: (1) problems are included at the end of every chapter, and a study guide containing sample answers to all of the problems is available; (2) a new chapter discusses research from the past five years on business fluctuations in multisector models; and (3) the chapter on representative agent growth models now includes an appendix that explains the transversality condition.

Table of Contents:

	Preface to Second Edition
1	Introduction	1
2	Linear Difference Equations: Part 1	11
3	Linear Difference Equations: Part 2	41
4	General Equilibrium Theory under Certainty	63
5	Infinite Horizon Economies and Representative Agents	85
6	Infinite Horizon Economies and Overlapping Generations	115
7	Infinite Horizon Economies with Nonconvexities	141
8	Some Recent Developments	171
9	General Equilibrium Theory and Uncertainty	191
10	Sunspots	211
11	Macroeconomic Models of Money	231
12	Applied Monetary Theory	259
	Notes	281
	Bibliography	289
	Index	295