Anti-Blanchard Macroeconomics: A Comparative Approach

Olivier Blanchard, former chief economist of the International Monetary Fund (IMF), is author of one of the most important standard macroeconomics textbooks which is used throughout the world. Endorsed by Blanchard himself, Anti-Blanchard Macroeconomics critically analyses prevailing economic theory and policy in comparison with alternative approaches. This textbook is designed to stand alongside Blanchard's text, or indeed any other standard book on macroeconomics, but it can also be read independently. It provides undergraduate and advanced students with a critical view of the subject, and is also appropriate for scholars interested in a new way of analysing the debate between alternative schools of economic thought. Emiliano Brancaccio and Andrea Califano succinctly explore the relationship between theoretical models and economic policies, providing readers with examples and empirical exercises. The book highlights ways in which simple changes to the initial hypotheses of the dominant models can lead to alternative schemes that overturn the logical relationships and the policy prescriptions of standard macroeconomics. Key features: * It critically assesses the mainstream macroeconomic models * It overcomes the typical contradiction between the opportunity to offer students a preliminary mainstream education and the need to nurture their critical spirit * It helps students to understand that economics is not a discipline that changes in a smooth, linear manner but, on the contrary, represents a field of research that develops through intense theoretical debates, continual empirical testing and resultant disputes about economic policy * It critically analyses Blanchard's new approach to macroeconomics inspired by the 2008 global financial crisis.