For the Third Edition, 2001 Nobel laureate Joseph Stiglitz joins forces with new co-author Carl Walsh, who brings both economic expertise and teaching savvy to the project. Together, Stiglitz and Walsh thoroughly integrate contemporary economics into the traditional curriculum. Recognizing the limitations of the traditional AS/AD model, the authors offer an improved framework for the analysis of macroeconomic fluctuations. This approach emphasizes the role of the Fed and the federal funds market in the determination of short-term interest rates. The result is an analysis of fluctuations in inflation/output space and a model reflecting the real world of macroeconomics that students encounter in the business press and other media.
- ISBN10 0393975193
- ISBN13 9780393975192
- Publish Date 18 March 2002 (first published 17 March 1993)
- Publish Status Inactive
- Out of Print 10 April 2006
- Publish Country US
- Imprint WW Norton & Co
- Edition 3rd Revised edition
- Format Paperback
- Pages 552
- Language English