Background
PARKIN, Michael was born in 1939 in Birdwell, Yorkshire, England.
(Dr. Lydia "Dia" Fenner is a newly minted PhD in economics...)
Dr. Lydia "Dia" Fenner is a newly minted PhD in economics who takes her first job with the U.S. Treasury Department. Her assignment is to design policies to get the economy out of its slump before the next election. But when the policies Dia recommends are implemented, they don't work. Something underhanded is going on that wasn't covered in her Ivy League education.Dia enters a race against time as she tries to determine who, or what, is trying to sabotage the economy. Along the way she must contend with a vengeful ex-boyfriend, an arrogant boss, an ambitious senator, and a mysterious, yet attractive, colleague. The action spans the halls of power in Washington, D.C., to the rolling hills of rural Virginia as Dia attempts to unravel the plot against the troubled economy.Will she succeed, or will she too become a target-and a victim?Macro Mayhem supplies the double punch of an entertaining story with insight into how the macroeconomy works. Economics, also known as the "dismal science," has never been as much fun-or as dangerous-as in this fast-paced thriller of financial intrigue.
http://www.amazon.com/gp/product/059538000X/?tag=2022091-20
(Inflation expectations play a central role in models of t...)
Inflation expectations play a central role in models of the Phillips curve. At long time horizons inflation expectations may reflect the credibility of a monetary authority's commitment to price stability. These observations highlight the importance of inflation expectations for monetary policy. These comments touch on three issues regarding inflation expectations: The evolving treatment of inflation expectations in empirical Phillips curve models; three recent models of information imperfections and inflation expectations; and potential policy implications of different models.
http://www.amazon.com/gp/product/1288705050/?tag=2022091-20
(The degree to which inflation expectations are anchored a...)
The degree to which inflation expectations are anchored at long horizons is important for many issues in macroeconomics and finance. There has been little research examining observable measures of long-run inflation expectations. We investigate the evolution of survey measures of long-run inflation expectations in the United States. Our analysis emphasizes the role of a time-varying inflation objective of monetary policymakers. This focus makes monetary policy actions a key determinant of long-run inflation expectations. Our results have important implications for work on inflation dynamics, monetary policy rules, the costs of disinflation, and the term structure of interest rates.
http://www.amazon.com/gp/product/1288707983/?tag=2022091-20
(This review empirically analyzes the expectations hypothe...)
This review empirically analyzes the expectations hypothesis (EH) in inflation-indexed (or real) bonds and in nominal bonds in the United States and in the United Kingdom. We strongly reject the EH in inflation-indexed bonds, and also confirm and update the existing evidence rejecting the EH in nominal bonds. This rejection implies that the risk premium on both real and nominal bonds varies predictably over time. We also find strong evidence that the spread between the nominal and the real bond risk premium, or the breakeven inflation risk premium, also varies over time. We argue that the time variation in real bond risk premia most likely reflects both a changing real interest rate risk premium and a changing liquidity risk premium, and that the variability in the nominal bond risk premia reflects a changing inflation risk premium. We estimate significant time series variability in the magnitude and sign of bond risk premia.
http://www.amazon.com/gp/product/B00F56FCSO/?tag=2022091-20
PARKIN, Michael was born in 1939 in Birdwell, Yorkshire, England.
Bachelor of Arts University Leicester, 1963. Master of Arts University Manchester, 1970.
Assistant Lector, University Sheffield, 1963-1964. Lector, University Leicester,
6. Lector, Senior Lector, University Essex,
9, 1969-1970.
Professor, University Manchester, 1970-1975.
Visiting Professor, Brown University, 1972, Hyderabad University, India,
1974. Visiting Senior Research Economics, Reserve Bank Australia, 1973, 1974.
Visiting Fellow, Hoover Institute, Institution, Stanford,
80. Professor of Economics, University Western Ontario, London, Ontario, Canada, since 1975.
Editor, Manchester School of Economic and Social Studies, 1974-1975.
Managing Editor, Canadian Journal of Economics, since 1982. Editorial Boards, Review of Economic Studies, Manchester School of Economic and Social Studies, Journal of Money, Credit and Banking,Journal of Monetary Economics, American Economic Review.
(This review empirically analyzes the expectations hypothe...)
(The degree to which inflation expectations are anchored a...)
(Inflation expectations play a central role in models of t...)
(Dr. Lydia "Dia" Fenner is a newly minted PhD in economics...)
Theoretical and empirical work on portfolio debt and interest-rate selection behaviour of financial institutions, households and firms. A series of papers (written in collaboration with others) derived tight restrictions on portfolio and debt behaviour of a variety of financial institutions. These models were tested on the time series behaviour of United Kingdom financial institutions.
Further work broadened the scope to deal with dynamic aspects of consumer behaviour and the simultaneous choice of consumption, investment, and financial assets and liabilities.
Inflation and unemployment, and the role of monetary policies and wage and price controls: a series of papers and a major research programme (codirected with David Laidler) studied wide aspects of these problems. International finance and open economy macroeconomics: the interrelations
between foreign shocks, exchange-rate regimes, and domestic economic performance were studied in a series of papers. Empirical work on the aggregate world economy under fixed exchange rates was also undertaken, revealing that closed economy macroeconomic models provide a good guide to the performance of the world economy as a whole when exchange rates are fixed.
The political economy of inflation and the relation between political arrangements and economic policy: a series of papers has sought to explore
the relationship between a country’s constitutional set-up and its choice of macroeconomic policies.