J. Bradford DeLong
delong@econ.berkeley.edu
http://www.j-bradford-delong.net/
Things I admire about Abel and Bernanke's Macroeconomics...
The most important reason to choose and use Abel and Bernanke's Macroeconomics is that it is the most thorough and comprehensive book on the market. Other textbooks try to be short--to hit the highlights. Abel and Bernanke's book is the only one that is any good as a general reference, and the best one to have on your shelf if you want to or to teach from if you want your students to have a comprehensive view of the subject.
Other excellences:
- figure 1.6 on government spending and taxes crowds a lot of information into a small space
- table 3.1 on the U.S. production function over time performs a similar function (but the capital stock series is too small)
- figures 3.9 and 3.10 on page 84 on the workweek are very nice...
- so is figure 3.13 on oil prices
- figure 3-15 on gross labor market flows and table 3-4 on employment status are both very informative
- page 116 application on consumption and the stock market are very well done
- the summary table on page 288 covering business cycle comovements is very nice
- the page 132 "taxes and investment" application is a very nice touch
- the page 186 application on the 1980s LDC debt crisis is nice to see
- the page 189 sketch of the theory on sovereign debt and default is well done
- the page 196 figure on the government budget balance and the trade balance is very informative
- the page 233 sketch of the literature on economic growth and democracy
- Box 7-2 on currency holdings outside the United States
- the page 258 application discussion of regulation, financial innovation, and money demand
- the page 279 business cycle calender
- the page 309 summary on factors that shift the IS curve
- page 333 on models and forecasts
- page 375: Lucas on the slope of the Phillips curve
- page 380 on the rationality of price forecasts
- page 401 on price stickiness by industry
- page 464 covering Ball on the sacrifice ratio
- page 464 on wage and price controls
- page 529 on the money multiplier in the Great Depression
- page 545 on the Taylor rule
- page 566 on government spending in OECD countries