Macroeconomics: a European perspective
Gespeichert in:
Hauptverfasser: | , , |
---|---|
Format: | Buch |
Sprache: | English |
Veröffentlicht: |
Harlow [u.a.]
Pearson
2013
|
Ausgabe: | 2. ed. |
Schriftenreihe: | Always learning
|
Schlagworte: | |
Online-Zugang: | Inhaltsverzeichnis |
Beschreibung: | XXIII, 590 S. Ill., graph. Darst. |
ISBN: | 9780273771685 9780273771821 9780273780816 |
Internformat
MARC
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250 | |a 2. ed. | ||
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Datensatz im Suchindex
_version_ | 1804150142135173120 |
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adam_text | List of figures
List of tables
List of Focus boxes
About the authors
Publisher s acknowledgements
Guided tour
Preface
Author acknowledgements
INTRODUCTION
Chapter
1
A tour of the world
1.1
Europe and the euro
1.2
The economic outlook in the USA
1.3
The largest emerging economies
1.4
Looking ahead
Key terms
Questions and problems
Further reading
Appendix Where to find the numbers?
Chapter
2
XI
XV
xvi
xvii
xviii
XX
xxiv
xxv
2
3
6
10
11
12
12
13
14
A tour of the book
15
2.1
Aggregate output
16
2.2
Other major macroeconomic variables
21
2.3
Output, unemployment and the inflation rate,
Okun s law and the Philips curve
27
2.4
The short run, the medium run and the long run
29
2.5
A tour of the book
30
Summary
32
Key terms
33
Questions and problems
33
Further reading
35
Appendix The construction of real GDP and
chain-type indexes
36
THE CORE
THE SHORT RUN
41
Chapter
3................._______________........................
The goods market
42
3.1
The composition of GDP
43
3.2
The demand for goods
44
3.3
The determination of equilibrium output
47
3.4
Investment equals saving: an alternative way of
thinking about the goods-market equilibrium
54
3.5
Is the government omnipotent? A warning
57
Summary
58
Key terms
58
Questions and problems
59
Chapter
4
Financial markets
61
4.1
The demand for money
62
4.2
Determining the interest rate: part
1
66
4.3
Determining the interest rate: part
2
70
4.4
Two alternative ways of looking at the
equilibrium
76
Summary
79
Key terms
79
Questions and problems
80
Further reading
81
Chapter
5
Goods and financial markets:
the IS-LM model
82
5.1
The goods market and the IS relation
83
5.2
Financial markets and the LM relation
87
5.3
Putting the IS and the LM relations together
90
5.4
Using a policy mix
95
5.5
IS-LM and the liquidity trap
96
5.6
How does the IS-LM model fit the facts?
99
Summary
101
Key terms
101
Questions and problems
102
Further reading
103
Appendix An analytical version of the IS-LM model
104
Chapter
6
The IS-LM model in an open economy 1O8
6.1
Openness in goods markets
109
6.2
Openness in financial markets
116
6.3
The IS relation in an open economy
122
6.4
The LM relation in an open economy
128
6.5
Putting goods and financial markets together
in an open economy
131
Summary
133
Key terms
133
Questions and problems
134
Further reading
135
VIU
CONTENTS
Chapter
7
Output, the interest rate and
the exchange rate
7.1
Increases in demand, domestic or foreign
7.2
Depreciation, the trade balance and output
7.3
Looking at dynamics: the J-curve
7.4
Saving, investment and the trade balance
7.5
The effects of policy in an open economy
7.6
Fixed exchange rates
Summary
Key terms
Questions and problems
Further reading
Appendix Derivation of the Marshall-Lemer
condition
THE MEDIUM RUN
Chapter
8
136
137
143
145
147
151
152
157
157
157
160
161
163
The labour market
164
8.1
A tour of the labour market
165
8.2
Wage determination
170
8.3
Price determination
177
8.4
The natural rate of unemployment
178
8.5
Where we go from here
182
Summary
183
Key terms
184
Questions and problems
184
Further reading
186
Appendix Wage and price setting relations versus
labour supply and labour demand
187
Chapter
9^
Putting all markets together:
the AS-AD model
189
9.1
Aggregate supply
190
9.2
Aggregate demand
192
9.3
Equilibrium in the short run and in
the medium run
194
9.4
The effects of a monetary expansion
197
9.5
A decrease in the budget deficit
200
9.6
An increase in the price of oil
204
9.7
Conclusions
210
Summary
2*11
Key terms
212
Questions and problems
212
Chapter
10
The Phillips curve, the natural rate
of unemployment and inflation
215
10.1
Inflation, expected inflation and
unemployment
216
10.2
The Phillips curve
217
10.3
The Phillips curve and the natural rate of
unemployment in Europe
224
Summary
232
Key terms
232
Questions and problems
233
Further reading
234
Appendix From the aggregate supply relation to
a relation between inflation, expected
inflation and unemployment
235
Chapter
11
Inflation, money growth and
the real rate of interest
236
11.1
Output, unemployment and inflation
237
11.2
Nominal versus real interest rates
241
11.3
Nominal and real interest rates and
the IS-LM model
244
11.4
The effects of money growth
245
11.5
Money growth, inflation and nominal and
real interest rates
252
11.6
Disinflation
254
Summary
260
Key terms
261
Questions and problems
261
Chapter
12
The medium run in an open
economy
264
12.1
The medium run
265
12.2
Exchange rate crises under fixed
exchange rates
270
12.3
Exchange rate movements under flexible
exchange rates
274
12.4
Choosing between exchange rate
regimes
277
Summary
280
Key terms
280
Questions and problems
281
THE LONG RUN
285
СћарЈеМЗ
_______
The facts of growth
13.1
Measuring the standard of living
13.2
Growth in rich countries since
1950
13.3
A broader look across time and space
13.4
Thinking about growth: a primer
Summary
Key terms
Questions and problems
Further reading
286
287
290
293
296
301
301
302
303
CONTENTS
¡X
Chapter
14
Saving, capital accumulation and
output
304
14.1
Interactions between output and capital
305
14.2
The implications of alternative saving rates
308
14.3
Getting a sense of magnitudes
317
14.4
physical versus human capital
320
Summary
323
Key terms
323
Questions and problems
323
Further reading
325
Appendix The Cobb-Douglas production function
and the steady state
326
Chapter
15
Technological progress and growth
15.1
Technological progress and the rate
of growth
15.2
The determinants of technological progress
15.3
The facts of growth revisited
Summary
Key terms
Questions and problems
Further reading
Appendix Constructing a measure of technological
progress
EXTENSIONS
EXPECTATIONS
Chapter
16
327
328
334
337
342
343
343
345
346
351
Financial markets and expectations
352
16.1
Expected present discounted values
353
16.2
Bond prices and bond yields
359
16.3
The stock market and movements in stock
prices
367
16.4
Risk, bubbles, fads and asset prices
374
Summary
378
Key terms
379
Questions and problems
379
Further reading
381
Chapter_17
................... ............
^
_................... ____________
Expectations, consumption and
investment
17.1
Consumption theory and the role of
expectations
17.2
Toward a more realistic description
17.3
Investment
17.4
The volatility of consumption and investment
382
383
387
391
398
Summary
400
Key terms
401
Questions and problems
401
Appendix Derivation of the expected present
value of profits under static
expectations
404
ChapteMj
_________________________
Expectations, output and policy
405
18.1
Expectations and decisions: taking stock
406
18.2
Monetary policy, expectations and output
409
18.3
Deficit reduction, expectations and output
415
Summary
420
Key terms
421
Questions and problems
421
EUROPE: PAST, PRESENT AND FUTURE
423
Chapter
19............................. _............._......._________________
The euro at fourteen: was it a
good idea and why is it in trouble?
19.1
The monetary history of Europe from post-war
to the present day
19.2
Is Europe an optimal currency area?
19.3
The European system of central banks:
structure and objectives
19.4
The first fourteen years of the euro
(1999-2013)
19.5
Should the outs join?
Summary
Key terms
Questions and problems
Further reading
Chapter
20
High debt
21.1
The government s budget constraint
21.2
The evolution of the debt-to-GDP ratio
21.3
The return from a high debt
Summary
Key terms
Questions and problems
Further reading
424
425
431
434
439
443
445
446
446
447
The crisis
448
20.1
From a housing problem to a financial crisis
449
20.2
The use and limits of policy
454
20.3
The slow recovery
464
Summary
468
Key terms
469
Questions and problems
469
Further reading
470
Chapter
21
471
472
476
486
490
490
490
491
X
CONTENTS
SHOULD POLICY MAKERS BE
RESTRAINED?
493
Policy and policy makers: what do
we know?
494
22.1
Uncertainty and policy
495
22.2
Expectations and policy
498
22.3
Politics and policy
503
Summary
505
Key terms
506
Questions and problems
506
Further reading
508
Chapterj^
_________________________
Monetary and fiscal policy rules and
constraints
23.1
The optimal inflation rate
23.2
Monetary policy rules
23.3
Fiscal policy rules and constraints
Summary
Key terms
Questions and problems
509
510
514
523
532
533
533
Further reading
Appendix The time inconsistency problem:
Barro
and Gordon model
EPILOGUE
Chapter
24
536
537
539
The story of macroeconomics
540
24.1
Keynes and the Great Depression
541
24.2
The neoclassical synthesis
541
24.3
The rational expectations critique
544
24.4
Recent developments up to the crisis
547
24.5
First lessons from the crisis
550
Summary
552
Key terms
552
Further reading
553
Appendix
1
A maths refresher
554
Appendix
2
An introduction to econometrics
559
Glossary
564
Symbols used in this book
575
Index
577
Supporting resources
Visit www.MyEconLab.com to find valuable online resources.
MyEconLab for students
•
A personalised study plan with self-assessment questions to check your understanding
•
Multiple-choice questions to test your learning
•
Extensive annotated hotlinks to relevant websites
•
An online glossary to explain key terms with fiashcards to test your knowledge
•
Pearson
е
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with search tool to help locate specific items of content
MyEconLab for instructors
•
Customisable
testbank
of question material
that can be set as tests and homework
assignments
•
E-mail results and profile tools to send
results of quizzes to instructors
•
Downloadable PowerPoint slides
•
Complete instructor s manual and solutions
guide to end of chapter questions.
•
Economics Experiments that provide you
with engaging activities that allow your
students to apply their knowledge to real-life
situations
•
Online help and support to assist with
website usage and troubleshooting
For more information please contact your local
Pearson Education sales representative or visit
www.pearsoned.co.uk/blanchard
Succé«
Stories
|
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dewey-search | 339.094 |
dewey-sort | 3339.094 |
dewey-tens | 330 - Economics |
discipline | Wirtschaftswissenschaften |
edition | 2. ed. |
format | Book |
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geographic | Europa (DE-588)4015701-5 gnd |
geographic_facet | Europa |
id | DE-604.BV040803182 |
illustrated | Illustrated |
indexdate | 2024-07-10T00:34:13Z |
institution | BVB |
isbn | 9780273771685 9780273771821 9780273780816 |
language | English |
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physical | XXIII, 590 S. Ill., graph. Darst. |
publishDate | 2013 |
publishDateSearch | 2013 |
publishDateSort | 2013 |
publisher | Pearson |
record_format | marc |
series2 | Always learning |
spelling | Blanchard, Olivier 1948- Verfasser (DE-588)115601929 aut Macroeconomics a European perspective Olivier Blanchard ; Alessia Amighini and Francesco Giavazzi 2. ed. Harlow [u.a.] Pearson 2013 XXIII, 590 S. Ill., graph. Darst. txt rdacontent n rdamedia nc rdacarrier Always learning Makroökonomie (DE-588)4037174-8 gnd rswk-swf Europa (DE-588)4015701-5 gnd rswk-swf Macroeconomics. Europe--Economic conditions. (DE-588)4123623-3 Lehrbuch gnd-content Europa (DE-588)4015701-5 g Makroökonomie (DE-588)4037174-8 s b DE-604 Amighini, Alessia 1971- Verfasser (DE-588)1046230506 aut Giavazzi, Francesco 1949- Verfasser (DE-588)128615249 aut Erscheint auch als Online-Ausgabe, PDF 978-0-273-77180-7 Digitalisierung UB Augsburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=025783246&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
spellingShingle | Blanchard, Olivier 1948- Amighini, Alessia 1971- Giavazzi, Francesco 1949- Macroeconomics a European perspective Makroökonomie (DE-588)4037174-8 gnd |
subject_GND | (DE-588)4037174-8 (DE-588)4015701-5 (DE-588)4123623-3 |
title | Macroeconomics a European perspective |
title_auth | Macroeconomics a European perspective |
title_exact_search | Macroeconomics a European perspective |
title_full | Macroeconomics a European perspective Olivier Blanchard ; Alessia Amighini and Francesco Giavazzi |
title_fullStr | Macroeconomics a European perspective Olivier Blanchard ; Alessia Amighini and Francesco Giavazzi |
title_full_unstemmed | Macroeconomics a European perspective Olivier Blanchard ; Alessia Amighini and Francesco Giavazzi |
title_short | Macroeconomics |
title_sort | macroeconomics a european perspective |
title_sub | a European perspective |
topic | Makroökonomie (DE-588)4037174-8 gnd |
topic_facet | Makroökonomie Europa Lehrbuch |
url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=025783246&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
work_keys_str_mv | AT blanchardolivier macroeconomicsaeuropeanperspective AT amighinialessia macroeconomicsaeuropeanperspective AT giavazzifrancesco macroeconomicsaeuropeanperspective |