Macroeconomics : theories & policies

書誌事項

Macroeconomics : theories & policies

Richard T. Froyen

Prentice Hall, c1996

5th ed

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注記

Includes bibliographical references and indexes

内容説明・目次

内容説明

This text explains the difference among macro economists on issues of theory and policy while comparing and contrasting modern macroeconomic theory. This edition has been completely updated. It provides a balanced coverage of macroeconomic models, and an aggregate supply/demand framework is used to integrate the discussion of topics throughout. An up-to-date summary of Keynesian position is included, as well as an extensive treatment of monetary policy and coverage of money demand. The framework used is the Mundell-Fleming model and the cases of both imperfect and perfect capital are considered.

目次

(NOTE: Each chapter ends with a conclusion.) I. INTRODUCTION AND MEASUREMENT. 1. Introduction. What is Macroeconomics? Post-World War II Economic Performance. Central Questions in Macroeconomics. 2. Measurement of Macroeconomic Variables. The National Income Accounts. Gross Domestic Product. National Income. Personal and Personal Disposable Income. Some National Income Accounting Identities. Measuring Price Changes: Real Versus Nominal GDP. The Consumer Price Index and the Producer Price Index. Measures of Cyclical Variation in Output. II. MACROECONOMIC MODELS. 3. Classical Macroeconomics (I): Equilibrium Output and Employment. The Starting Point. The Classical Revolution. Production. Employment. Equilibrium Output and Employment. 4. 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. 5. 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. 6. The Keynesian System (II): Money, Interest, and Income. Money in the Keynesian System. The IS-LM Curve Model. 7. 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. 8. 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. 9. 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. 10. 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. 11. New Classical Economics. The New Classical Attack. A Broader View of the New Classical Position. The Keynesian Countercritique. 12. New Classical and New Keynesian Directions. Real Business Cycle Models. New Keynesian Economics. 13. Macroeconomic Models: A Summary. Theoretical Issues. Policy Issues. III. EXTENSIONS OF THE MODELS. 14. Consumption and Investment. Consumption. Investment Spending. 15. 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. 16. The Money Supply Process. The Federal Reserve System. Bank Reserves and Bank Deposits. Who Controls the Money Stock. 17. 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. IV. ECONOMIC POLICY. 18. 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? 19. Monetary Policy. The Monetary Policymaking Process. 19.2 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. V. OPEN ECONOMY MACROECONOMICS. 20. 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. 21. 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.

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詳細情報

  • NII書誌ID(NCID)
    BA26956446
  • ISBN
    • 013233867X
  • LCCN
    95012846
  • 出版国コード
    us
  • タイトル言語コード
    eng
  • 本文言語コード
    eng
  • 出版地
    Upper Saddle River, NJ
  • ページ数/冊数
    xix, 570 p.
  • 大きさ
    25 cm
  • 分類
  • 件名
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