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Macroeconomics, Theories and Policies
ISBN: 9780132338677 | 013233867X
Edition: 5thFormat: Hardcover
Publisher: Prentice Hall Books
Pub. Date: 11/1/1995
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The author explains the differences among macroeconomists on issues of theory and policy while comparing and contrasting modern macroeconomic theory.
| Introduction and Measurement | |
| Introduction | |
| What is Macroeconomics? Post-World War II Economic Performance | |
| Central Questions in Macroeconomics | |
| Measurement of Macroeconomic Variables | |
| The National Income Accounts | |
| Gross Domestic Product | |
| National Income | |
| Personal and Personal Disposable Income | |
| Some National... MORE | |
| Measuring Price Changes: Real Versus Nominal GDP | |
| The Consumer Price Index and the Producer Price Index | |
| Measures of Cyclical Variation in Output | |
| Macroeconomic Models | |
| Classical Macroeconomics (I): Equilibrium Output and Employment | |
| The Starting Point | |
| The Classical Revolution | |
| Production | |
| Employment | |
| Equilibrium Output and Employment | |
| The Classical System (II): Money, Prices, and Interest | |
| The Quantity Theory of Money | |
| The Classical Theory of the Interest Rate | |
| Policy Implications of the Classical Equilibrium Model | |
| The Keynesian System (I): The Role of Aggregate Demand | |
| The Problem of Unemployment | |
| The Simple Keynesian Model: Conditions for Equilibrium Output | |
| The Components of Aggregate Demand | |
| Determining Equilibrium Income | |
| Changes in Equilibrium Income | |
| Fiscal Stabilization Policy | |
| The Keynesian System (II): Money, Interest, and Income | |
| Money in the Keynesian System | |
| The IS-LM | |
| Curve Model | |
| The Keynesian System (III): Policy Effects in the IS-LM | |
| Model | |
| Factors Affecting Equilibrium Income and the Interest Rate | |
| The Relative Effectiveness of Monetary and Fiscal Policy | |
| The Keynesian System (IV): Aggregate Supply and Demand | |
| The Keynesian Aggregate Demand Curve | |
| The Keynesian Aggregate Demand Curve Combined with the Classical Theory of Aggregate Supply | |
| The Keynesian Contractual View of the Labor Market | |
| Labor Supply and Variability in the Money Wage | |
| The Effects of Shifts in the Aggregate Supply Function | |
| Keynes Versus the Classics | |
| The Monetarist Counterrevolution | |
| Introduction | |
| The Reformulation of the Quantity Theory of Money | |
| Monetary and Fiscal Policy: Monetarists Versus Keynesians | |
| The Recent Behavior of the Money-Income Relationship | |
| Output, Inflation, and Unemployment: Monetarist and Keynesian Views | |
| The Natural Rate Theory | |
| Monetary Policy, Output, and Inflation: A Monetarist View | |
| A Keynesian View of the Output-Inflation Trade-Off | |
| New Classical Economics | |
| The New Classical Attack | |
| A Broader View of the New Classical Position | |
| The Keynesian Countercritique | |
| New Classical and New Keynesian Directions | |
| Real Business Cycle Models | |
| New Keynesian Economics | |
| Macroeconomic Models: A Summary | |
| Theoretical Issues | |
| Policy Issues | |
| Extensions of The Models | |
| Consumption and Investment | |
| Consumption | |
| Investment Spending | |
| Money Demand | |
| The Definition of Money | |
| The Theory of the Transactions Demand for Money | |
| Extensions of Keynes's Theory of the Demand for Money as a Store of Wealth | |
| Instability of Money Demand | |
| The Money Supply Process | |
| The Federal Reserve System | |
| Bank Reserves and Bank Deposits | |
| Who Controls the Money Stock | |
| The Supply Side: Intermediate and Long-Term Economic Growth | |
| Long-Run Steady-State Growth | |
| Determinants of Output Growth in Intermediate-Run Periods | |
| Supply-Side Economics and the Policies of the Reagan and Bush Administrations | |
| Economic Policy | |
| Fiscal Policy | |
| The Goals of Macroeconomics Policy | |
| The Goals of Macroeconomic Policymakers | |
| The Federal Budget | |
| The Economy and the Federal Budget: The Concept of Automatic Fiscal Stabilizers | |
| Keynesian Objections to Balanced-Budget Rules | |
| What About the Deficit? | |
| Monetary Policy | |
| The Monetary Policymaking Process | |
| Competing Strategies for Monetary Policy: Targeting Monetary Aggregates or Interest Rates | |
| Implications of Intermediate Targeting on a Monetary Aggregate | |
| Implications of Targeting the Interest Rate | |
| Money Stock Versus Interest Rate Targets | |
| The Evolution of Federal Reserve Strategy | |
| Open Economy Macroeconomics | |
| Exchange Rates and the International Monetary System | |
| The U.S. | |
| Balance of Payments Accounts | |
| Exchange Rates and the Market for Foreign Exchange | |
| The Current Exchange Rate System | |
| Advantages of Exchange Rate Flexibility U.S. | |
| Experience with Floating Exchange Rates | |
| Fixed Versus Flexible Exchange Rates | |
| Monetary and Fiscal Policy in the Open Economy | |
| The Mundell-Fleming Model | |
| Monetary and Fiscal Policy in the Open Economy: The Case of Imperfect Capital Mobility | |
| Monetary and Fiscal Policy in the Open Economy: The Case of Perfect Capital Mobility | |
| Glossary | |
| Index | |
| Table of Contents provided by Publisher. All Rights Reserved. |
