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eISBN : 9780273771807

Contents :
Introduction

1. A tour of the world
1.1 Europe and the euro
1.2 The economic outlook in the USA
1.3 BRIC countries
1.4 Looking ahead

2. A tour of the book
2.1 Aggregate output
2.2 The other major macroeconomic variables
2.3 The short run, the medium run and the long run
2.4 A tour of the book

3. The goods market
3.1 The composition of GDP
3.2 The demand for goods
3.3 The determination of equilibrium output
3.4 Investment equals saving: an alternative way of thinking about the goods–market equilibrium
3.5 Is the government omnipotent? A warning

4. Financial markets
4.1 The demand for money
4.2 Determining the interest Rate: Part I
4.3 Determining the interest Rate: Part II
4.4 Two alternative ways of looking at the equilibrium

5. Goods and financial markets: the IS–LM model
5.1 The goods market and the IS relation
5.2 Financial markets and the LM relation
5.3 Putting the IS and the LM relations together
5.4 Using a policy mix
5.5 IS–LM and the liquidity trap
5.6 An analytical version of the IS–LM model
5.7 How does the IS–LM model fit the facts?

6. The IS–LM model in an open economy
6.1 Openness in goods markets
6.2 Openness in financial markets
6.3 The IS relation in an open economy
6.4 Equilibrium in financial markets
6.5 Putting goods and financial markets together

7. The labour market
7.1 A tour of the labour market
7.2 Wage determination
7.3 Price determination
7.4 The natural rate of unemployment
7.5 Where we go from here

8. Putting all markets together: the AS–AD model
8.1 Aggregate supply
8.2 Aggregate demand
8.3 Equilibrium in the short run and in the medium run
8.4 The effects of a monetary expansion
8.5 A decrease in the budget deficit
8.6 Changes in the price of oil
8.7 Conclusions

9. The natural rate of unemployment and the Phillips curve
9.1 Inflation, expected inflation and unemployment
9.2 The Phillips curve
9.3 The Phillips curve and the natural rate of unemployment in Europe

10. Inflation, activity and nominal money growth
10.1 Output, unemployment and inflation
10.2 The effects of money growth
10.3 Disinflation

11. The facts of growth
11.1 Measuring the standard of living
11.2 Growth in rich countries since 1950
11.3 A broader look at growth across time and space
11.4 Thinking about growth: a primer

12. Saving, capital accumulation and output
12.1 Interactions between output and capital
12.2 The implications of alternative saving rates
12.3 Getting a sense of magnitudes
12.4 Physical versus human capital

13. Technological progress and growth
13.1 Technological progress and the rate of growth
13.2 The determinants of technological progress
13.3 The facts of growth revisited

14. Expectations: the basic tools
14.1 Nominal versus real interest rates
14.2 Nominal and real interest rates and the IS–LM model
14.3 Money growth, inflation and nominal and real interest rates
14.4 Expected present discounted values

15. Financial markets and expectations
15.1 Bond prices and bond yields
15.2 The stock market and movements in stock prices
15.3 Bubbles, fads and stock prices

16. Expectations, consumption and investment
16.1 Consumption theory and the role of expectations
16.2 Toward a more realistic description
16.3 Investment
16.4 The volatility of consumption and investment

17. Expectations, output and policy
17.1 Expectations and decisions: taking stock
17.2 Monetary policy, expectations and output
17.3 Deficit reduction, expectations and output

18. Economic policy in an open economy
18.1 Increases in demand, domestic or foreign
18.2 Depreciation, the trade balance and output
18.3 Looking at dynamics: the J-curve
18.4 Saving, investment and the trade balance
18.5 The effects of policy in an open economy
18.6 Fixed exchange rates

19. Exchange rate regimes
19.1 The medium run
19.2 Exchange rate crises under fixed exchange rates
19.3 Exchange rate movements under flexible exchange rates
19.4 Choosing between exchange rate regimes

20. The crisis of 2007–2010
20.1 What cannot keep going eventually stops
20.2 Households ‘under water'
20.3 Leverage and amplification
20.4 Investment demand, with banks as intermediaries
20.5 International contagion
20.6 Policy response to the crisis
20.7 The legacy of the crisis

21. High debt
21.1 The government's budget constraint
21.2 The evolution of the debt /GDP ratio
21.3 The return from a high debt

22. High inflation
22.1 Budget deficits and money creation
22.2 Inflation and real money balances
22.3 Deficits, seignorage and inflation
22.4 How do hyperinflations end?
22.5 Conclusions

23. Policy and policy makers: what do we know?
23.1 Uncertainty and policy
23.2 Expectations and policy
23.3 Politics and policy

24. Monetary and fiscal policy rules and constraints
24.1 The optimal inflation rate
24.2 Monetary policy rules
24.3 Fiscal policy rules and constraints

25. European economic and monetary integration
25.1 Why have Europeans always been so adverse to exchange rate volatility?
25.2 The monetary history of Europe from post-war to the present day
25.3 The European system of central banks: structure and objectives

26. The euro: the in and the outs
26.1 Is Europe an optimal currency area?
26.2 The first ten years of the euro (1999–2009)
26.3 Should the outs join?

Glossary

Language : English

Print : 2ème

Figure(s) : Graphique(s) ; Tableau(x)

Location : Nice Library

Material : Electronic

Statement : Présent

Owner : Bibliothèque