Prices, interest rates and aggregate output: an overview of macroeconomics
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| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Prahran
Tilde Univ. Press
2014
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XII, 194 S. graph. Darst. |
| ISBN: | 9780734610843 |
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MARC
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Record in the Search Index
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| adam_text | Contents
Contents
About the author............................................................vii
Acknowledgements............................................................ix
Preface.................................................................... xi
Chapter 1: The nature of macroeconomic issues................................. 1
Measurement of aggregate output..................................... 3
Macroeconomic models.................................................. 8
Chapter 2: Determinants and significance of aggregate demand.................10
Components of income and expenditure...................................12
The equilibrium process................................................21
Full-employment income.................................................26
Fiscal policy..........................................................28
Keynesian conclusions..................................................29
Chapter 3: The /5line.......................................................30
The /5 Line.......................................................... 31
Fiscal policy..........................................................36
Fiscal policy instruments.............................................36
Balanced budget multiplier.............................................37
The size of the budget deficit or surplus..............................39
Measurement of the severity of fiscal policy...........................40
Chapter 4: The money supply and its determinants ...........................41
The nature of money....................................................43
Modern money....................-.....................................43
The creation of bank deposits..........................................45
Monetary policy........................................................50
Open market operations.................................................51
Reserve requirements................................................. 53
Interest rate controls.................................................54
Directives.............................................................54
Chapter 5: The LM line......................................................55
Money demand...........................................................56
Interest rate equilibrium..............................................64
The LM line............................................................68
Chapter 6: The interaction of the goods market and the money market.........73
Overshooting..........................................................80
Fiscal and monetary policy........................................... 80
Chapter 7: Digression on pre-Keynesian economic theory.......................84
Monetarism.............................................................87
Chapter 8: The role of the price level in aggregate demand and supply........88
The price level and aggregate demand ..................................88
The price level and aggregate supply...................................91
Equilibrium output and price levels....................................93
Prices, Interest Rates and Aggregate Output: An OverView of Macroeconomics
Classical approach........................................................94
Keynesian approach........................................................94
Outcomes..................................................................97
Chapter 9: Inflation............................................................99
Galloping inflation.......................................................99
Creeping inflation..................................................... 100
Effects of demand-pull inflation.........................................102
Effects of a depression..................................................105
Effects of cost-push inflation...........................................106
Policy responses.........................................................107
Application of policy measures...........................................109
The Classical and monetarist approaches to inflation.....................114
The Phillips curve.......................................................115
Measurement of the price level...........................................117
Chapter 10: Unemployment.......................................................118
Measurement of unemployment..............................................118
Causes of unemployment...................................................119
Policy against unemployment..............................................120
The target level of unemployment........................................121
Chapter 11: Exchange rates and international payments..........................122
Rates of exchange........................................................124
Rationale for government intervention....................................125
Methods of government intervention.......................................126
Floating exchange rate systems...........................................128
Adjustable peg...........................................................130
Creeping peg.............................................................134
European developments...................................................,134
Nominal and real exchange rates........................................ 138
Exchange rate policies compared..........................................139
Chapter 12: The BP line........................................................141
The BP line..............................................................142
The balance of payments constraint.......................................144
The BP line and floating exchange rates................................ 144
The EPIine and fixed exchange rates......................................146
Equation of the BP line..................................................147
Effects of a non-zero balance of payments................................147
Policy effectiveness.....................................................151
Chapter 13: The complete model............................................. 156
Macroeconomic equilibria and constraints.................................156
Aggregate output, the price level, and interest rates....................159
Government budget balance................................................160
Balance of payments......................................................160
Conclusions..............................................................161
Multipliers..............................................................161
Chapter 14: Conclusions........................................................163
Three equilibrium processes..............................................163
Multiplier processes................................................... 164
Balance of payments constraint...........................................164
Contents
Government budget constraint...........................................165
Self-gene rating problems..............................................165
Problems are not independent of each other.............................165
Major controversies....................................................166
Measurement............................................................168
Aggregation............................................................168
Importance of the time dimension.......................................169
A few final thoughts...................................................169
Glossary....................................................................171
Notation....................................................................185
Variables..............................................................185
Parameters.............................................................186
Graphs.................................................................187
Further reading..............................................................189
Data...................................................................189
Theory and recent experience...........................................189
Index........................................................................191
|
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| isbn | 9780734610843 |
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| physical | XII, 194 S. graph. Darst. |
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| spelling | Mushin, Jerry D. Verfasser (DE-588)17117867X aut Prices, interest rates and aggregate output an overview of macroeconomics Jerry Mushin Prahran Tilde Univ. Press 2014 XII, 194 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Macroeconomics Macroeconomics fast Makroökonomie (DE-588)4037174-8 gnd rswk-swf (DE-588)4123623-3 Lehrbuch gnd-content Makroökonomie (DE-588)4037174-8 s b DE-604 Erscheint auch als Online-Ausgabe, PDF 978-0-7346-2132-0 Digitalisierung UB Regensburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=028043773&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Mushin, Jerry D. Prices, interest rates and aggregate output an overview of macroeconomics Macroeconomics Macroeconomics fast Makroökonomie (DE-588)4037174-8 gnd |
| subject_GND | (DE-588)4037174-8 (DE-588)4123623-3 |
| title | Prices, interest rates and aggregate output an overview of macroeconomics |
| title_auth | Prices, interest rates and aggregate output an overview of macroeconomics |
| title_exact_search | Prices, interest rates and aggregate output an overview of macroeconomics |
| title_full | Prices, interest rates and aggregate output an overview of macroeconomics Jerry Mushin |
| title_fullStr | Prices, interest rates and aggregate output an overview of macroeconomics Jerry Mushin |
| title_full_unstemmed | Prices, interest rates and aggregate output an overview of macroeconomics Jerry Mushin |
| title_short | Prices, interest rates and aggregate output |
| title_sort | prices interest rates and aggregate output an overview of macroeconomics |
| title_sub | an overview of macroeconomics |
| topic | Macroeconomics Macroeconomics fast Makroökonomie (DE-588)4037174-8 gnd |
| topic_facet | Macroeconomics Makroökonomie Lehrbuch |
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