Expectations, employment and prices:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Oxford [u.a.]
Oxford Univ. Press
2010
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XV, 189 S. graph. Darst. |
| ISBN: | 9780195397901 |
Internformat
MARC
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| 650 | 4 | |a Ökonometrisches Modell | |
| 650 | 4 | |a Unemployment |x Econometric models | |
| 650 | 4 | |a Unemployment |x Effect of monetary policy on | |
| 650 | 4 | |a Capital market | |
| 650 | 4 | |a Equilibrium (Economics) | |
| 650 | 4 | |a Rational expectations (Economic theory) | |
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Datensatz im Suchindex
| _version_ | 1804141101753303040 |
|---|---|
| adam_text | CONTENTS
Part
і
The Theory of Unemployment
1
What This Book Is About
3
1.1
The Nature of the Enquiry
5
1.2
The Theory Summarized
7
1.3
The Theory of Aggregate Supply
8
1.4
The Theory of Aggregate Demand
10
1.5
A Road Map to the Book
11
2
The Basic Model
15
2.1
Components of the Theory
16
2.1.1
Relationship to Keynes
16
2.1.2
Households
17
2.1.3
Firms
18
2.1.4
Search and the Labor Market
20
2.2
Equilibrium and the Social Planner
22
2.2.1
The Planning Problem
22
2.2.2
Aggregate Demand and Supply
23
2.2.3
Effective Demand and the Multiplier
26
2.3
A Formal Definition of Equilibrium
29
2.4
Concluding Comments
30
3
An Extension to Multiple Goods
33
3.1
The Structure of the Model
34
3.1.1
Households
34
3.1.2
Firms
36
3.1.3
Search
37
3.2
Equilibrium and the Social Planner
38
3.2.1
The Social Planner
38
3.2.2
Aggregate Demand and Supply
40
3.2.3
Keynesian Equilibrium
43
3.3
Equilibrium and the Planning Optimum
Compared
44
3.4
Concluding Comments
47
4
A Model with Investment and Saving
49
4.1
The Model Structure and the Planning Solution
50
4.1.1
Households
50
4.1.2
Firms
52
4.1.3
Search
53
4.1.4
The Social Planner
54
4.2
Investment and the Keynesian Equilibrium
55
4.2.1
How to Close the Model
55
4.2.2
The Definition of Equilibrium
56
4.3
Analyzing Equilibria
58
4.3.1
Aggregate Demand and Supply
58
4.3.2
Fiscal Policy in a Keynesian Model
60
4.4
Concluding Comments
62
4.5
Appendix
63
Part II Using the Theory to Understand Data
5
A New Way to Understand Business Cycle Facts
69
5.1
What s Wrong with the HP Filter?
70
5.2
Measuring Data in Wage Units
73
5.3
Interpreting Wage Units
75
5.4
The Components of GDP
76
5.5
Concluding Comments
80
6
The Great Depression: Telling
the Keynesian Story in a New Way
81
6.1
Developing the Model
83
6.1.1
Preferences
83
6.1.2
Labor Supply and Consumption
84
6.1.3
Technology
85
6.2
Aggregate Supply
87
6.2.1
Aggregation Across Firms
87
6.2.2
Search and the Labor Market
89
XII
CONTENTS
6.2.3
Selecting an Equilibrium with
Long-Term
Expectations
89
6.3
Equilibrium and the Planner s Problem
90
6.3.1
The Social Planner
90
6.3.2
Demand-Constrained (Keynesian)
Equilibrium
92
6.3.3
An Existence Proof
93
6.3.4
Efficiency of Equilibrium
94
6.4
Using the Model to Understand Data
95
6.4.1
Keynes and the Great
Depression
—
Theory
95
6.4.2
Keynes and the Great
Depression
—
Data
96
6.5
The Recovery from the Depression
98
6.5.1
Adding Government
98
6.5.2
Consumption in a Model with
Government
99
6.6
Equilibrium with Government
100
6.6.1
Some Definitions
100
6.6.2
Demand-Constrained Equilibrium with
Government
101
6.6.3
An Important Result
103
6.7
Concluding Comments
105
6.8
Appendix
106
7
The Wartime Recovery: A Dynamic Model Where
Fiscal Policy Matters
109
7.1
The Structure of the Model
110
7.1.1
Household Structure
110
7.1.2
The Asset Markets
112
7.1.3
Government Choices
113
7.1.4
The Household Problem
113
7.2
The Aggregate Economy
114
7.2.1
The Aggregate Consumption Function
114
7.2.2
Aggregate Equations of Motion
116
7.3
Using the Model to Understand Data
116
7.3.1
Steady-State Equilibria
117
7.3.2
Two Equations to Study Steady-State
Equilibria
117
CONTENTS
XIII
7.3.3
The Great Depression
118
7.3.4
The Wartime Recovery
119
7.3.5
A Quantitative Experiment
120
7.4
Concluding Comments
122
7.5
Appendix
123
8
The U.S. Economy from
1951
to
2000:
Employment and GDP
127
8.1
Introduction
127
8.2
The Impact of the Fed-Treasury Accord
128
8.3
A Preview
129
8.4
Unemployment and GDP
132
8.5
Investment Is Not a Cause of Medium-Term
Movements
133
8.6
Other Possible Causes of Medium-Term
Fluctuations
135
8.7
Concluding Comments
138
Part III The Theory of Prices
9
Money and Uncertainty
143
9.1
The Structure of the Model
143
9.1.1
Money and Production
143
9.1.2
Adding Uncertainty
145
9.1.3
Households
146
9.1.4
Government
147
9.1.5
The Pricing Kernel and Asset Prices
148
9.2
The Complete Model
149
9.3
Concluding Comments
150
10
Money and Inflation Since
1951 151
10.1
A Complete Monetary Model
152
10.2
Aggregate Supply and the Money Wage
153
10.3
Theory and Data
154
10.4
Modeling Monetary Policy
159
10.4.1
The Private Sector Equations Restated
159
10.4.2
The Policy Rule
160
10.4.3
A Linear Approximation
160
10.5
How Beliefs Influence the Unemployment
Rate
161
10.5.1
The Steady State
162
10.5.2
Active and Passive Monetary Policy
162
XIV
CONTENTS
10.6
Concluding Comments
164
11
How to Fix the Economy
167
11.1
Monetary Policy Cannot Hit Two Targets
168
11.2
Fiscal Policy Is Not the Most Effective
Solution
169
11.3
What We Should Do Instead
171
A A New Role for the Fed
172
11.5
Concluding Comments
174
Notes
177
Bibliography
181
Index
185
CONTENTS XV
|
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| id | DE-604.BV036058941 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T22:10:31Z |
| institution | BVB |
| isbn | 9780195397901 |
| language | English |
| lccn | 2009024295 |
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| spelling | Farmer, Roger E. A. 1955- Verfasser (DE-588)121703444 aut Expectations, employment and prices Roger E. A. Farmer Oxford [u.a.] Oxford Univ. Press 2010 XV, 189 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Ökonometrisches Modell Unemployment Econometric models Unemployment Effect of monetary policy on Capital market Equilibrium (Economics) Rational expectations (Economic theory) Keynessche Theorie (DE-588)4030426-7 gnd rswk-swf Geldpolitik (DE-588)4019902-2 gnd rswk-swf Mikroökonomische Fundierung (DE-588)4206633-5 gnd rswk-swf Arbeitslosigkeit (DE-588)4002730-2 gnd rswk-swf Beschäftigungstheorie (DE-588)4127364-3 gnd rswk-swf Ökonometrisches Modell (DE-588)4043212-9 gnd rswk-swf Arbeitslosigkeit (DE-588)4002730-2 s Geldpolitik (DE-588)4019902-2 s Ökonometrisches Modell (DE-588)4043212-9 s DE-604 Beschäftigungstheorie (DE-588)4127364-3 s Mikroökonomische Fundierung (DE-588)4206633-5 s Keynessche Theorie (DE-588)4030426-7 s DE-188 Digitalisierung UB Regensburg application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=018950467&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Farmer, Roger E. A. 1955- Expectations, employment and prices Ökonometrisches Modell Unemployment Econometric models Unemployment Effect of monetary policy on Capital market Equilibrium (Economics) Rational expectations (Economic theory) Keynessche Theorie (DE-588)4030426-7 gnd Geldpolitik (DE-588)4019902-2 gnd Mikroökonomische Fundierung (DE-588)4206633-5 gnd Arbeitslosigkeit (DE-588)4002730-2 gnd Beschäftigungstheorie (DE-588)4127364-3 gnd Ökonometrisches Modell (DE-588)4043212-9 gnd |
| subject_GND | (DE-588)4030426-7 (DE-588)4019902-2 (DE-588)4206633-5 (DE-588)4002730-2 (DE-588)4127364-3 (DE-588)4043212-9 |
| title | Expectations, employment and prices |
| title_auth | Expectations, employment and prices |
| title_exact_search | Expectations, employment and prices |
| title_full | Expectations, employment and prices Roger E. A. Farmer |
| title_fullStr | Expectations, employment and prices Roger E. A. Farmer |
| title_full_unstemmed | Expectations, employment and prices Roger E. A. Farmer |
| title_short | Expectations, employment and prices |
| title_sort | expectations employment and prices |
| topic | Ökonometrisches Modell Unemployment Econometric models Unemployment Effect of monetary policy on Capital market Equilibrium (Economics) Rational expectations (Economic theory) Keynessche Theorie (DE-588)4030426-7 gnd Geldpolitik (DE-588)4019902-2 gnd Mikroökonomische Fundierung (DE-588)4206633-5 gnd Arbeitslosigkeit (DE-588)4002730-2 gnd Beschäftigungstheorie (DE-588)4127364-3 gnd Ökonometrisches Modell (DE-588)4043212-9 gnd |
| topic_facet | Ökonometrisches Modell Unemployment Econometric models Unemployment Effect of monetary policy on Capital market Equilibrium (Economics) Rational expectations (Economic theory) Keynessche Theorie Geldpolitik Mikroökonomische Fundierung Arbeitslosigkeit Beschäftigungstheorie |
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