Macroeconomics:
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Basingstoke
Palgrave Macmillan
2013
|
| Ausgabe: | 8. ed., internat. version |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | Hier auch später erschienene, unveränderte Nachdrucke |
| Beschreibung: | XXXVI, 623 S. Ill., zahlr. graph. Darst. |
| ISBN: | 9781464121678 1464121672 |
Internformat
MARC
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| 245 | 1 | 0 | |a Macroeconomics |c N. Gregory Mankiw |
| 250 | |a 8. ed., internat. version | ||
| 264 | 1 | |a Basingstoke |b Palgrave Macmillan |c 2013 | |
| 300 | |a XXXVI, 623 S. |b Ill., zahlr. graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 500 | |a Hier auch später erschienene, unveränderte Nachdrucke | ||
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Datensatz im Suchindex
| _version_ | 1804149653242904576 |
|---|---|
| adam_text | contents
Preface
xxiii
Supplements and Media
xxxii
part I Introduction
Chapter
1
The Science of Macroeconomics
1
1-1
What Macroeconomists Study
1
CASE
SïULiV
The Historical Performance of the U.S. Economy
3
1-2
How Economists Think
5
Theory as Model Building
6
►
FYI Using
Funđions
to Express Relationships Among Variables
9
The Use of Multiple Models
10
Prices: Flexible Versus Sticky
10
Microeconomic Thinking and
Macroeconomic
Models
11
►
FYI Nobel Macroeconomists
12
1-3
How This Book Proceeds
13
Chapter
2
The Data of Macroeconomics
15
2-1
Measuring the Value of Economic Activity:
Gross Domestic Product
16
Income, Expenditure, and the Circular Flow
1 6
► FYI Stocks and Flows
18
Rules for Computing GDP
18
Real GDP Versus Nominal GDP
21
The GDP Deflator
23
Chain-Weighted Measures of Real GDP
23
►
FYI Two Arithmetic Tricks for Working With Percentage Changes
24
The Components of Expenditure
25
►
FYI What Is Investment?
26
CASK STUDY GDP and Its Components
26
Other Measures of Income
27
Seasonal Adjustment
29
2-2
Measuring the Cost of Living: The Consumer Price Index
30
The Price of a Basket of Goods
30
The CP! Versus the GDP Deflator
31
Does the
CPI
Overstate Inflation?
33
CASE STUDY The Billion Prices Project
34
International Version
Χ Ι
Contents
2-3
Measuringjoblessness: The Unemployment Rate
34
The Household Survey
35
►
CASE STUDY Trends in Labor-Force Participation
36
The Establishment Survey
38
2-4
Conclusion: From Economic Statistics to Economic Models
39
part II Classical Theory:
The Economy in the Long Run
Chapter
3
National Income: Where It Comes From
and Where It Goes
45
3-1
What Determines the Total Production of Goods and Services?
47
The Factors of Production
47
The Production Function
48
The Supply of Goods and Services
48
3-2
How Is National Income Distributed to the Factors
of Production?
49
Factor Prices
49
The Decisions Facing a Competitive Firm
50
The Firm s Demand for Factors
51
The Division of National Income
54
CASE STUDY The Black Death and Factor Prices
56
The Cobb—Douglas Production Function
56
►
FYI The Growing Cap Between Rich and Poor
60
OASI; Sii
JOY Labor Productivity as the Key Determinant of Real Wages
60
3-3
What Determines the Demand for Goods and Services?
61
Consumption
62
Investment
63
►
FYI The Many Different Interest Rates
65
Government Purchases
65
3-4
What Brings the Supply and Demand for Goods and Services
Into Equilibrium?
66
Equilibrium in the Market for Goods and Services: The Supply and Demand
for the Economy s Output
67
Equilibrium in the Financial Markets: The Supply and Demand for
Loanable Funds
68
Changes in Saving: The Effects of Fiscal Policy
70
**
CASE STUDY Wars and Interest Rates in the United Kingdom,
1730-1920 71
Changes in Investment Demand
72
3-5
Conclusion
74
Contents
I
ΧΙ
Chapter
4
The Monetary System: What It Is and How It Works
79
4-1
What Is Money?
79
The Functions of Money
80
The Types of Money
80
►
CASE STUDY Money in a POW Camp
81
The Development of Fiat Money
82
b· CASE STUDY Money and Social Conventions on the Island of Yap
82
How the Quantity of Money Is Controlled
83
How the Quantity of Money Is Measured
83
►
FYI How Do Credit Cards and Debit Cards Fit Into the Monetary System?
85
4-2
The Role of Banks in the Monetary System
85
lOO-Percent-Reserve Banking
86
Fractional-Reserve Banking
86
Bank Capital, Leverage, and Capital Requirements
88
4-3
How Central Banks Influence the Money Supply
90
A Model of the Money Supply
90
The Instruments of Monetary Policy
92
■
CASE STUDY Quantitative Easing and the Exploding Monetary Base
93
Problems in Monetary Control
94
•
CASE STUOY Bank Failures and the Money Supply in the
1
930s
95
4-4
Conclusion
96
Chapter
5
Inflation: Its Causes, Effects, and Social Costs
99
5-1
The Quantity Theory of Money
100
Transactions and the Quantity Equation
100
From Transactions to Income
101
The Money Demand Function and the Quantity Equation
102
The Assumption of Constant Velocity
103
Money, Prices, and Inflation
104
CASĽ
STUOV Inflation and Money Growth
104
5-2
Seigniorage: The Revenue From Printing Money
107
CASESTUDY
Paying for the American Revolution
107
5-3
Inflation and Interest Rates
108
Two Interest Rates: Real and Nominal
108
The Fisher Effect
108
•
CASESTUDY
Inflation and Nominal Interest Rates
109
Two Real Interest Rates: Ex Ante and Ex Post
110
CASE STUDY Nominal Interest Rates in the Nineteenth Century
111
5-4
The Nominal Interest Rate and the Demand for Money
112
The Cost of Holding Money
112
Future Money and Current Prices
112
XU
I Contents
5-5
The Social Costs of Inflation
114
The Layman s View and the Classical Response
114
►
CASE STUDY What Economists and the Public Say
About Inflation
115
The Costs of Expected Inflation
115
The Costs of Unexpected Inflation
117
►
CASE STUDY The Free Silver Movement, the Election of
1896,
and
The Wizard of Oz
118
One Benefit of Inflation
119
5-6
Hyperinflation
119
The Costs of Hyperinflation
120
The Causes of Hyperinflation
120
CASESTUDY
Hyperinflation in
Internar
Germany
121
:
CASE STUDY Hyperinflation in Zimbabwe
123
5-7
Conclusion: The Classical Dichotomy
124
Appendix: The
Cagan
Model: How Current and Future Money Affect
the Price Level
128
Chapter
6
The Open Economy
131
6-1
The International Flows of Capital and Goods
132
The Role of Net Exports
132
International Capital Flows and the Trade Balance
134
International Flows of Goods and Capital: An Example
136
►
FYI The Irrelevance of Bilateral Trade Balances
137
6-2
Saving and Investment in a Small Open Economy
137
Capital Mobility and the World Interest Rate
137
Why Assume a Small Open Economy?
138
The Model
139
How Policies Influence the Trade Balance
140
Evaluating Economic Policy
142
CASE STUDY The U.S. Trade Deficit
144
.·
CASESTUDY
Why Doesn t Capital Flow to Poor Countries?
146
6-3
Exchange Rates
147
Nominal and Real Exchange Rates
147
The Real Exchange Rate and the Trade Balance
149
The Determinants of the Real Exchange Rate
149
How Policies Influence the Real Exchange Rate
151
The Effects ofTrade Policies
152
The Determinants of the Nominal Exchange Rate
154
►
CASE STUDY Inflation and Nominal Exchange Rates
155
The Special Case of Purchasing-Power Parity
157
►
CASE STUDY The BigMac Around the World
158
6-4
Conclusion: The United States as a Large Open Economy
160
Appendix: The Large Open Economy
164
Contents xiii
Net Capital
Outflow
1 64
The Model 166
Policies in the Large Open Economy
168
Conclusion
172
Chapter
7
Unemployment
175
7-1
Job Loss, Job Finding, and the Natural Rate of Unemployment
176
7-2
Job Search and Frictional Unemployment
178
Causes of Frictional Unemployment
179
Public Policy and Frictional Unemployment
179
►
CASE STUDY Unemployment Insurance and the Rate of Job Finding
180
7-3
Real-Wage Rigidity and Structural Unemployment
181
Minimum-Wage Laws
182
;
CASESTUDY
The Characteristics of Minimum-Wage Workers
183
Unions and Collective Bargaining
184
Efficiency Wages
185
CASE STUDY Henry Ford s
$5
Workday
186
7-4
Labor-Market Experience: The United States
187
The Duration of Unemployment
187
з
CASE STUDY The Increase in U.S. Long-Term Unemployment and the Debate Over
Unemployment Insurance
188
Variation in the Unemployment Rate Across Demographic Groups
190
Transitions Into and Out of the Labor Force
1 91
7-5
Labor-Market Experience: Europe
192
The Rise in European Unemployment
1 92
Unemployment Variation Within Europe
194
CASE STUDY The Secrets to Happiness
195
The Rise of European Leisure
196
7-6
Conclusion
198
part III Growth Theory: The Economy
in the Very Long Run
Chapter
8
Economic Growth I: Capital Accumulation and
Population Growth
203
8-1
The Accumulation of Capital
204
The Supply and Demand for Goods
204
Growth in the Capital Stock and the Steady State
207
Approaching the Steady State: A Numerical Example
209
p
CASE STUDY The Miracle of Japanese and German Growth
211
How Saving Affects Growth
212
»
CASE STUDY Saving and Investment Around the World
213
XIV
] Contents
8-2
The Golden Rule Level of Capital
215
Comparing Steady States
215
Finding the Golden Rule Steady State: A Numerical Example
218
The Transition to the Golden Rule Steady State
220
8-3
Population Growth
222
The Steady State With Population Growth
223
The Effects of Population Growth
224
►
CASE STUDY Population Growth Around the World
226
Alternative Perspectives on Population Growth
227
8-4
Conclusion
229
Chapter
9
Economic Growth II: Technology, Empirics,
and Policy
233
9-1
Technological Progress in the Solow Model
234
The Efficiency of Labor
234
The Steady State With Technological Progress
235
The Effects ofTechnological Progress
236
9-2
From Growth Theory to Growth Empirics
237
Balanced Growth
237
Convergence
238
Factor Accumulation Versus Production Efficiency
239
ť
CASE STUDY Is Free Trade Good for Economic Growth?
240
9-3
Policies to Promote Growth
241
Evaluating the Rate of Saving
242
Changing the Rate of Saving
243
Allocating the Economy s Investment
244
:
CASE STUDY Industrial Policy in Practice
245
Establishing the Right Institutions
246
CASE STUDY The Colonial Origins of Modern Institutions
247
Encouraging Technological Progress
248
CASE STUDY The Worldwide Slowdown in Economic Growth
249
9-4
Beyond the Solow Model: Endogenous
Growth Theory
251
The Basic Model
252
A Two-Sector Model
253
The Microeconomics of Research and Development
254
The Process of Creative Destruction
255
9-5
Conclusion
256
Appendix: Accounting for the Sources of Economic Growth
260
Increases in the Factors of Production
260
Technological Progress
262
The Sources of Growth in the United States
263
►
CASE STUDY Growth in the East Asian Tigers
264
The Solow Residual in the Short Run
265
Contents
XV
part IV
Business
Cycle Theory: The Economy
in the Short Run
Chapter
10
Introduction to Economic Fluctuations
271
10-1
The Facts About the Business Cycle
272
GDP and Its Components
272
Unemployment and Okun s Law
275
Leading Economic Indicators
277
10-2
Time Horizons in Macroeconomics
279
How the Short Run and Long Run Differ
279
?>■
CASE STUDY If You Want to Know Why Firms Have Sticky Prices, Ask Them
280
The Model of Aggregate Supply and Aggregate Demand
282
10-3
Aggregate Demand
283
The Quantity Equation as Aggregate Demand
283
Why the Aggregate Demand Curve Slopes Downward
284
Shifts in the Aggregate Demand Curve
285
10-4
Aggregate Supply
286
The Long Run: The Vertical Aggregate Supply Curve
286
The Short Run: The Horizontal Aggregate Supply Curve
288
From the Short Run to the Long Run
289
CASE STUDY A Monetary Lesson From French History
29 1
►
FYI David Hume on the Real Effects of Money
292
10-5
Stabilization Policy
292
Shocks to Aggregate Demand
293
Shocks to Aggregate Supply
294
CASE STUnV How OPEC Helped Cause Stagflation in the
1970s
and
Euphoria in the
1980s 296
10-6
Conclusion
297
Chapter
11
Aggregate Demand I: Building the IS-LM Model
301
11-1
The Goods Market and the IS Curve
303
The Keynesian Cross
303
UASfc
ЫШп
Cutting Taxes to Stimulate the Economy: The Kennedy and Bush
Tax Cuts
310
CASF. STUDY Increasing Government Purchases to Stimulate the Economy:
The
Obama
Spending Plan
311
The Interest Rate, Investment, and the IS Curve
312
How Fiscal
Po
I icy Shifts the
/5
Curve
314
11-2
The Money Market and the LM Curve
315
The Theory of Liquidity Preference
315
CASE STUDY Does a Monetary Tightening Raise or Lower Interest Rates?
317
Income, Money Demand, and the LM Curve
318
How Monetary Policy Shifts the LM Curve
319
11-3
Conclusion: The Short-Run Equilibrium
320
XVI
I Contents
Chapter
12
Aggregate Demand II: Applying the IS-LM Model
325
12-1
Explaining Fluctuations With the IS-LM Model
326
How Fiscal Policy Shifts the IS Curve and Changes the Short-Run
Equilibrium
326
How Monetary Policy Shifts the LM Curve and Changes the Short-Run
Equilibrium
327
The Interaction Between Monetary and Fiscal Policy
329
*■-
CASE STUDY Policy Analysis With Macroeconometric Models
337
Shocks in the IS-LM Model
332
&
CASE STUDY The U.S. Recession of
2001 333
What Is the Fed s Policy Instrument—The Money Supply
or the Interest Rate?
334
12-2
IS-LM as a Theory of Aggregate Demand
335
From the IS-LM Model to the Aggregate Demand Curve
335
The IS-LM Model in the Short Run and Long Run
338
12-3
The Great Depression
340
The Spending Hypothesis: Shocks to the
/5
Curve
341
The Money Hypothesis: A Shock to the LM Curve
342
The Money Hypothesis Again: The Effects of Falling Prices
343
Could the Depression Happen Again?
345
CASESTUDY
The Financial Crisis and Economic Downturn
of
2008
and
2009 346
►
FYi The Liquidity Trap (Also Known as the Zero Lower Bound)
348
12-4
Conclusion
349
Chapter
13
The Open Economy Revisited: The Mundell-Fleming
Model and the Exchange-Rate Regime
353
13-1
The Mundell-Fleming Model
355
The Key Assumption: Small Open Economy With Perfect Capital Mobility
355
The Goods Market and the IS* Curve
356
The Money Market and the LM* Curve
356
Putting the Pieces Together
358
13-2
The Small Open Economy Under Floating Exchange Rates
359
Fiscal Policy
360
Monetary Policy
361
Trade Policy
362
13-3
The Small Open Economy Under Fixed Exchange Rates
363
How a Fixed-Exchange-Rate System Works
364
»-
CASE STUDY The International Gold Standard
365
Fiscal Policy
366
Monetary Policy
366
Џ-
CASE STUDY Devaluation and the Recovery From the Great Depression
368
Contents
I
XVII
Trade Policy
368
Policy in the Mundell-Fleming Model: A Summary
369
13-4
Interest Rate Differentials
370
Country Risk and Exchange-Rate Expectations
370
Differentials in the Mundell-Fleming Model
371
►
CASE STUDY International Financial Crisis: Mexico
1994-1995 373
►
CASE STUDY International Financial Crisis: Asia
1997-1998 374
13-5
Should Exchange Rates Be Floating or Fixed?
375
Pros and Cons of Different Exchange-Rate Systems
375
►
CASE STUDY The Debate Over the Euro
376
Speculative Attacks, Currency Boards, and Dollarization
378
The Impossible Trinity
379
►
CASE STUDY The Chinese Currency Controversy
380
13-6
From the Short Run to the Long Run: The Mundell-Fleming
Model With a Changing Price Level
381
13-7
A Concluding Reminder
384
Appendix: A Short-Run Model of the Large Open Economy
388
Fiscal Policy
390
Monetary Policy
391
ARuleofThumb
392
Chapter
14
Aggregate Supply and the Short-Run Tradeoff Between
Inflation and Unemployment
395
14-1
The Basic Theory of Aggregate Supply
396
The Sticky-Price Model
397
An Alternative Theory: The Imperfect-Information Model
399
CASI:
STUHY
International Differences in the Aggregate Supply Curve
401
Implications
402
14-2
Inflation, Unemployment, and the Phillips Curve
404
Deriving the Phillips Curve From the Aggregate Supply Curve
404
►
FYI The History of the Modern Phillips Curve
406
Adaptive Expectations and Inflation Inertia
406
Two Causes of Rising and Falling Inflation
407
CASE STUDY Inflation and Unemployment in the United States
407
The Short-Run Tradeoff Between Inflation and Unemployment
410
►
FYI How Precise Are Estimates of the Natural Rate of Unemployment?
411
Disinflation and the Sacrifice Ratio
412
Rational Expectations and the Possibility of Painless Disinflation
41 2
CASE STUD/ The Sacrifice Ratio in Practice
414
Hysteresis and the Challenge to the Natural-Rate Hypothesis
41
S
14-3
Conclusion
417
Appendix: The Mother of All Models
420
XVIII
I Contents
part V Topics in Macroeconomic Theory
Chapter
15
A Dynamic Model of Aggregate Demand
and Aggregate Supply
427
15-1
Elements of the Model
428
Output: The Demand for Goods and Services
428
The Real Interest Rate: The Fisher Equation
429
Inflation: The Phillips Curve
430
Expected Inflation: Adaptive Expectations
431
The Nominal Interest Rate: The Monetary-Policy Rule
432
?
CASE STUDY The Taylor Rule
433
15-2
Solving the Model
435
The Long-Run Equilibrium
435
The Dynamic Aggregate Supply Curve
437
The Dynamic Aggregate Demand Curve
438
The Short-Run Equilibrium
440
15-3
Using the Model
441
Long-Run Growth
442
A Shock to Aggregate Supply
442
►
FYI The Numerical Calibration and Simulation
445
A Shock to Aggregate Demand
446
A Shift in Monetary Policy
447
15-4
Two Applications: Lessons for Monetary Policy
451
The Tradeoff Between Output Variability and Inflation
Variability
451
CASE STUDY The Fed Versus the European Central Bank
453
The Taylor Principle
454
CASE STUDY What Caused the Great Inflation
? 457
15-5
Conclusion: Toward DSGE Models
458
Chapter
16
Understanding Consumer Behavior
463
16-1
John Maynard Keynes and the Consumption Function
464
Keynes s Conjectures
464
The Early Empirical Successes
465
Secular Stagnation, Simon Kuznets, and the Consumption Puzzle
466
16-2
Irving Fisher and
Intertemporal
Choice
468
The
Intertemporal
Budget Constraint
468
►
FYI Present Value, or Why a
$1,000,000
Prize Is Worth Only
$623,000 470
Consumer Preferences
471
Optimization
472
Contents
I
ХІХ
How Changes in Income Affect Consumption
473
How Changes in the Real Interest Rate Affect Consumption
474
Constraints on Borrowing
475
16-3
Franco
Modigliani
and the Life-Cycle Hypothesis
477
The Hypothesis
478
Implications
479
►
CASE STUDY The Consumption and Saving of the Elderly
481
16-4
Milton Friedman and the Permanent-Income Hypothesis
482
The Hypothesis
482
Implications
483
ŕ
CASE STUDY The
1964
Tax Cut and the
1968
Tax Surcharge
484
і
CASE STUDY The Tax Rebates of
2008 484
16-5
Robert Hall and the Random-Walk Hypothesis
485
The Hypothesis
486
Implications
486
CASE STUDY Do Predictable Changes in Income Lead to Predictable
Changes in Consumption?
487
16-6
David Laibson and the Pull
ofinstant
Gratification
488
CASE STUDY How to Get People to Save More
489
16-7
Conclusion
490
Chapter
17
The Theory of Investment
495
17-1
Business Fixed Investment
496
The Rental Price of Capital
497
The Cost of Capital
498
The Determinants of Investment
500
Taxes and Investment
502
The Stock Market and Tobin s
q
503
HASf
- .TüísiY
The Stock Market as an Economic Indicator
504
Alternative Views of the Stock Market: The Efficient Markets Hypothesis Versus
Keynes s Beauty Contest
505
Financing Constraints
507
17-2
Residential Investment
508
The Stock Equilibrium and the Flow Supply
508
Changes in Housing Demand
509
17-3
Inventory Investment
512
Reasons for Holding Inventories
512
How the Real Interest Rate and Credit Conditions Affect Inventory
Investment
513
17-4
Conclusion
513
XX I Contents
part VI Topics in Macroeconomic Policy
Chapter
18
Alternative Perspectives on Stabilization Policy
519
18-1
Should Policy Be Active or Passive?
520
Lags in the Implementation and Effects of Policies
520
The Difficultjob of Economic Forecasting
522
►
CASE STUDY Mistakes in Forecasting
522
Ignorance, Expectations, and the Lucas Critique
524
The Historical Record
525
v CASE STUDY Is the Stabilization of the Economy a Figment of the Data?
526
18-2
Should Policy Be Conducted by Rule or by Discretion?
527
Distrust of Policymakers and the Political Process
527
The Time Inconsistency of Discretionary Policy
528
¡ CftSt
STUDY Alexander Hamilton Versus Time Inconsistency
530
Rules for Monetary Policy
530
•
CASE STUDY Inflation Targeting: Rule or Constrained Discretion?
531
CASE STUDY Central-Bank Independence
532
18-3
Conclusion: Making Policy in an Uncertain World
534
Appendix: Time Inconsistency and the Tradeoff Between Inflation
and Unemployment
537
Chapter
19
Government Debt and Budget Deficits
541
19-1
The Size of the Government Debt
542
f> CASE STUDY The Troubling Long-Term Outlook for Fiscal Policy
545
19-2
Problems in Measurement
546
Measurement Problem
1:
Inflation
547
Measurement Problem
2:
Capital Assets
547
Measurement Problem
3:
Uncounted Liabilities
548
Measurement Problem
4:
The Business Cycle
549
Summing Up
549
19-3
The Traditional View of Government Debt
550
►
FYI Taxes and Incentives
552
19-4
The Ricardian View of Government Debt
552
The Basic Logic of Ricardian Equivalence
553
Consumers and Future Taxes
554
►
CASE STUDY George Bush s Withholding Experiment
555
►
CASE STUDY Why Do Parents Leave Bequests?
557
Making a Choice
557
►
FYI
Ricardo
on Ricardian Equivalence
558
19-5
Other Perspectives on Government Debt
559
Balanced Budgets Versus Optimal Fiscal Policy
559
Fiscal Effects on Monetary Policy
560
Contents XXi
Debt and the Political Process
561
International Dimensions
561
►
CASE STUDY The Benefits of Indexed Bonds
562
19-6
Conclusion
563
Chapter
20
The Financial System: Opportunities and Dangers
567
20-1
What Does the Financial System Do?
568
Financing Investment
568
Sharing Risk
569
Dealing With Asymmetric Information
570
FosteringEconomicGrowth
571
џ-
CASE STUDY Microfinance: Professor Yunus s Profound Idea
572
20-2
Financial Crises
573
The Anatomy of a Crisis
574
►
FYI The TED Spread
576
ГЈШ.
STUDY Who Should Be Blamed for the Financial Crisis
of2008-2009? 578
Policy Responses to a Crisis
579
Policies to Prevent Crises
583
►
FYI CoCo Bonds
584
CASE STUDY The European Sovereign Debt Crisis
585
20-3
Conclusion
586
Epilogue What We Know, What We Don t
591
The Four Most Important Lessons of Macroeconomics
591
Lesson
1 :
In the long run, a country s capacity to produce goods and services
determines the standard of living of its citizens.
592
Lesson
2:
In the short run, aggregate demand influences the amount of goods
and services that a country produces.
592
Lesson
3:
In the long run, the rate of money growth determines the rate of
inflation, but it does not affect the rate of unemployment.
593
Lesson
4:
In the short run, policymakers who control monetary and fiscal policy
face a tradeoff between inflation and unemployment.
593
The Four Most Important Unresolved Questions of Macroeconomics
594
Question
1 :
How should policymakers try to promote growth in the economy s
natural level of output?
594
Question
2:
Should policymakers try to stabilize the economy? If so, how?
595
Question
3:
How costly is inflation, and how costly is reducing inflation?
596
Question
4:
How big a problem are government budget deficits?
597
Conclusion
598
Glossary
599
Index
609
|
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| discipline | Wirtschaftswissenschaften |
| edition | 8. ed., internat. version |
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| id | DE-604.BV040575639 |
| illustrated | Illustrated |
| indexdate | 2024-07-10T00:26:27Z |
| institution | BVB |
| isbn | 9781464121678 1464121672 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-025402897 |
| oclc_num | 819072209 |
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| physical | XXXVI, 623 S. Ill., zahlr. graph. Darst. |
| publishDate | 2013 |
| publishDateSearch | 2013 |
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| publisher | Palgrave Macmillan |
| record_format | marc |
| spelling | Mankiw, Nicholas Gregory 1958- Verfasser (DE-588)120973626 aut Macroeconomics N. Gregory Mankiw 8. ed., internat. version Basingstoke Palgrave Macmillan 2013 XXXVI, 623 S. Ill., zahlr. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Hier auch später erschienene, unveränderte Nachdrucke Macroeconomics Neokeynesianismus (DE-588)4138182-8 gnd rswk-swf Neue Makroökonomie (DE-588)4120793-2 gnd rswk-swf Makroökonomie (DE-588)4037174-8 gnd rswk-swf (DE-588)4123623-3 Lehrbuch gnd-content Makroökonomie (DE-588)4037174-8 s DE-604 Neokeynesianismus (DE-588)4138182-8 s 1\p DE-604 Neue Makroökonomie (DE-588)4120793-2 s 2\p DE-604 Digitalisierung UB Passau application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=025402897&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 2\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Mankiw, Nicholas Gregory 1958- Macroeconomics Macroeconomics Neokeynesianismus (DE-588)4138182-8 gnd Neue Makroökonomie (DE-588)4120793-2 gnd Makroökonomie (DE-588)4037174-8 gnd |
| subject_GND | (DE-588)4138182-8 (DE-588)4120793-2 (DE-588)4037174-8 (DE-588)4123623-3 |
| title | Macroeconomics |
| title_auth | Macroeconomics |
| title_exact_search | Macroeconomics |
| title_full | Macroeconomics N. Gregory Mankiw |
| title_fullStr | Macroeconomics N. Gregory Mankiw |
| title_full_unstemmed | Macroeconomics N. Gregory Mankiw |
| title_short | Macroeconomics |
| title_sort | macroeconomics |
| topic | Macroeconomics Neokeynesianismus (DE-588)4138182-8 gnd Neue Makroökonomie (DE-588)4120793-2 gnd Makroökonomie (DE-588)4037174-8 gnd |
| topic_facet | Macroeconomics Neokeynesianismus Neue Makroökonomie Makroökonomie Lehrbuch |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=025402897&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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