The aim of the paper is to shift the focus of famine analysis away from food supply towards the macroeconomic determinants of food entitlement--i.e., to the ability of individuals to purchase food. Towards this end, we develop a model to demonstrate how loose monetary and fiscal policies may...

This paper provides new empirical evidence of the macroeconomic effects of public investment in developing economies. Using public investment forecast errors to identify unanticipated changes in public investment, the paper finds that increased public investment raises output in the short and...

Contents: Introduction -- 1. Several Central Debates in Development Macroeconomics -- 2. Key Principles of Macroeconomics -- 3. Giving Space to the Public Sector -- 4. The Domestic Economy and the Rest of the World -- 5. A Reform to Remove the External Constraint -- 6. Macroeconomic Strategies...