Macroeconomics

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Inside Front Cover
Halftitlepage
Titlepage
Copyright
About the Authors
Dedication
Frontmatter
Brief Contents
Media and Resources from Worth Publishers
Prelude: Celebrating the Tenth Edition
Preface
Contents
Chapter 1 The Science of Macroeconomics in Part I Introduction
1-1 What Macroeconomists Study in Chapter 1 The Science of Macroeconomics
1-2 How Economists Think in Chapter 1 The Science of Macroeconomics
1-3 How This Book Proceeds in Chapter 1 The Science of Macroeconomics
Chapter 2 The Data of Macroeconomics in Part I Introduction
2-1 Measuring the Value of Economic Activity: Gross Domestic Product in Chapter 2 The Data of Macroeconomics
2-2 Measuring the Cost of Living: The Consumer Price Index in Chapter 2 The Data of Macroeconomics
2-3 Measuring Joblessness: The Unemployment Rate in Chapter 2 The Data of Macroeconomics
2-4 Conclusion: From Economic Statistics to Economic Models in Chapter 2 The Data of Macroeconomics
Chapter 3 National Income: Where It Comes From and Where It Goes in Part II Classical Theory: The Economy in the Long Run
3-1 What Determines the Total Production of Goods and Services? in Chapter 3 National Income: Where It Comes From and Where It Goes
3-2 How Is National Income Distributed to the Factors of Production? in Chapter 3 National Income: Where It Comes From and Where It Goes
3-3 What Determines the Demand for Goods and Services? in Chapter 3 National Income: Where It Comes From and Where It Goes
3-4 What Brings the Supply and Demand for Goods and Services into Equilibrium? in Chapter 3 National Income: Where It Comes From and Where It Goes
3-5 Conclusion in Chapter 3 National Income: Where It Comes From and Where It Goes
Chapter 4 The Monetary System: What It Is and How It Works in Part II Classical Theory: The Economy in the Long Run
4-1 What Is Money in Chapter 4 The Monetary System: What It Is and How It Works
4-2 The Role of Banks in the Monetary System in Chapter 4 The Monetary System: What It Is and How It Works
4-3 How Central Banks Influence the Money Supply in Chapter 4 The Monetary System: What It Is and How It Works
4-4 Conclusion in Chapter 4 The Monetary System: What It Is and How It Works
Chapter 5 Inflation: Its Causes, Effects, and Social Costs in Part II Classical Theory: The Economy in the Long Run
5-1 The Quantity Theory of Money in Chapter 5 Inflation: Its Causes, Effects, and Social Costs
5-2 Seigniorage: The Revenue from Printing Money in Chapter 5 Inflation: Its Causes, Effects, and Social Costs
5-3 Inflation and Interest Rates in Chapter 5 Inflation: Its Causes, Effects, and Social Costs
5-4 The Nominal Interest Rate and the Demand for Money in Chapter 5 Inflation: Its Causes, Effects, and Social Costs
5-5 The Social Costs of Inflation in Chapter 5 Inflation: Its Causes, Effects, and Social Costs
5-6 Hyperinflation in Chapter 5 Inflation: Its Causes, Effects, and Social Costs
5-7 Conclusion: The Classical Dichotomy in Chapter 5 Inflation: Its Causes, Effects, and Social Costs
Chapter 6 The Open Economy in Part II Classical Theory: The Economy in the Long Run
6-1 The International Flows of Capital and Goods in Chapter 6 The Open Economy
6-2 Saving and Investment in a Small Open Economy in Chapter 6 The Open Economy
6-3 Exchange Rates in Chapter 6 The Open Economy
6-4 Conclusion: The United States as a Large Open Economy in Chapter 6 The Open Economy
Appendix: The Large Open Economy in Chapter 6 The Open Economy
Chapter 7 Unemployment and the Labor Market in Part II Classical Theory: The Economy in the Long Run
7-1 Job Loss, Job Finding, and the Natural Rate of Unemployment in Chapter 7 Unemployment and the Labor Market
7-2 Job Search and Frictional Unemployment in Chapter 7 Unemployment and the Labor Market
7-3 Real-Wage Rigidity and Structural Unemployment in Chapter 7 Unemployment and the Labor Market
7-4 Labor-Market Experience: The United States in Chapter 7 Unemployment and the Labor Market
7-5 Labor-Market Experience: Europe in Chapter 7 Unemployment and the Labor Market
7-6 Conclusion in Chapter 7 Unemployment and the Labor Market
Chapter 8 Economic Growth I: Capital Accumulation and Population Growth in Part III Growth Theory: The Economy in the Very Long Run
8-1 The Accumulation of Capital in Chapter 8 Economic Growth I: Capital Accumulation and Population Growth
8-2 The Golden Rule Level of Capital in Chapter 8 Economic Growth I: Capital Accumulation and Population Growth
8-3 Population Growth in Chapter 8 Economic Growth I: Capital Accumulation and Population Growth
8-4 Conclusion in Chapter 8 Economic Growth I: Capital Accumulation and Population Growth
Chapter 9 Economic Growth II: Technology, Empirics, and Policy in Part III Growth Theory: The Economy in the Very Long Run
9-1 Technological Progress in the Solow Model in Chapter 9 Economic Growth II: Technology, Empirics, and Policy
9-2 From Growth Theory to Growth Empirics in Chapter 9 Economic Growth II: Technology, Empirics, and Policy
9-3 Policies to Promote Growth in Chapter 9 Economic Growth II: Technology, Empirics, and Policy
9-4 Beyond the Solow Model: Endogenous Growth Theory in Chapter 9 Economic Growth II: Technology, Empirics, and Policy
9-5 Conclusion in Chapter 9 Economic Growth II: Technology, Empirics, and Policy
Appendix: Accounting for the Sources of Economic Growth in Chapter 9 Economic Growth II: Technology, Empirics, and Policy
Chapter 10 Introduction to Economic Fluctuations in Part IV Business Cycle Theory: The Economy in the Short Run
10-1 The Facts About the Business Cycle in Chapter 10 Introduction to Economic Fluctuations
10-2 Time Horizons in Chapter 10 Introduction to Economic Fluctuations
10-3 Aggregate Demand in Chapter 10 Introduction to Economic Fluctuations
10-4 Aggregate Supply in Chapter 10 Introduction to Economic Fluctuations
10-5 Stabilization Policy in Chapter 10 Introduction to Economic Fluctuations
10-6 Conclusion in Chapter 10 Introduction to Economic Fluctuations
Chapter 11 Aggregate Demand I: Building the IS–LM Model in Part IV Business Cycle Theory: The Economy in the Short Ru
11-1 The Goods Market and the IS Curve in Chapter 11 Aggregate Demand I: Building the IS–LM Mode
11-2 The Money Market and the LM Curve in Chapter 11 Aggregate Demand I: Building the IS–LM Mode
11-3 Conclusion: The Short-Run Equilibrium in Chapter 11 Aggregate Demand I: Building the IS–LM Mode
Chapter 12 Aggregate Demand II: Applying the IS–LM Model in Part IV Business Cycle Theory: The Economy in the Short Ru
12-1 Explaining Fluctuations with the IS–LM Model in Chapter 12 Aggregate Demand II: Applying the IS–LM Mod
12-2 IS–LM as a Theory of Aggregate Demand in Chapter 12 Aggregate Demand II: Applying the IS–LM Mod
12-3 The Great Depression in Chapter 12 Aggregate Demand II: Applying the IS–LM Mode
12-4 Conclusion in Chapter 12 Aggregate Demand II: Applying the IS–LM Mode
Chapter 13 The Open Economy Revisited: The Mundell–Fleming Model and the Exchange-Rate Regime in Part IV Business Cycle Theory: The Economy in the Short Ru
13-1 The Mundell–Fleming Model in Chapter 13 The Open Economy Revisited: The Mundell–Fleming Model and the Exchange-Rate Regi
13-2 The Small Open Economy Under Floating Exchange Rates in Chapter 13 The Open Economy Revisited: The Mundell–Fleming Model and the Exchange-Rate Regim
13-3 The Small Open Economy Under Fixed Exchange Rates in Chapter 13 The Open Economy Revisited: The Mundell–Fleming Model and the Exchange-Rate Regim
13-4 Interest Rate Differentials in Chapter 13 The Open Economy Revisited: The Mundell–Fleming Model and the Exchange-Rate Regim
13-5 Should Exchange Rates Be Floating or Fixed? in Chapter 13 The Open Economy Revisited: The Mundell–Fleming Model and the Exchange-Rate Regim
13-6 From the Short Run to the Long Run: The Mundell–Fleming Model with a Changing Price Level in Chapter 13 The Open Economy Revisited: The Mundell–Fleming Model and the Exchange-Rate Regi
13-7 A Concluding Reminder in Chapter 13 The Open Economy Revisited: The Mundell–Fleming Model and the Exchange-Rate Regim
Appendix: The Large Open Economy in Chapter 13 The Open Economy Revisited: The Mundell–Fleming Model and the Exchange-Rate Regim
Chapter 14 Aggregate Supply and the Short-Run Tradeoff Between Inflation and Unemployment in Part IV Business Cycle Theory: The Economy in the Short Run
14-1 The Basic Theory of Aggregate Supply in Chapter 14 Aggregate Supply and the Short-Run Tradeoff Between Inflation and Unemployment
14-2 Inflation, Unemployment, and the Phillips Curve in Chapter 14 Aggregate Supply and the Short-Run Tradeoff Between Inflation and Unemployment
14-3 Conclusion in Chapter 14 Aggregate Supply and the Short-Run Tradeoff Between Inflation and Unemployment
Appendix: Accounting for the Sources of Economic Growth in Chapter 14 Aggregate Supply and the Short-Run Tradeoff Between Inflation and Unemployment
Chapter 15 A Dynamic Model of Economic Fluctuations in Part V Topics in Macroeconomic Theory and Policy
15-1 Elements of the Model in Chapter 15 A Dynamic Model of Economic Fluctuations
15-2 Solving the Model in Chapter 15 A Dynamic Model of Economic Fluctuations
15-3 Using the Model in Chapter 15 A Dynamic Model of Economic Fluctuations in Part V Topics
15-4 Two Applications: Lessons for Monetary Policy in Chapter 15 A Dynamic Model of Economic Fluctuations
15-5 Conclusion: Toward DSGE Models in Chapter 15 A Dynamic Model of Economic Fluctuations
Chapter 16 Alternative Perspectives on Stabilization Policy in Part V Topics in Macroeconomic Theory and Policy
16-1 Should Policy Be Active or Passive? in Chapter 16 Alternative Perspectives on Stabilization Policy
16-2 Should Policy Be Conducted by Rule or Discretion? in Chapter 16 Alternative Perspectives on Stabilization Policy
16-3 Conclusion in Chapter 16 Alternative Perspectives on Stabilization Policy
Appendix: Time Inconsistency and the Tradeoff Between Inflation and Unemployment in Chapter 16 Alternative Perspectives on Stabilization Policy
Chapter 17 Government Debt and Budget Deficits in Part V Topics in Macroeconomic Theory and Policy
17-1 The Size of the Government Debt in Chapter 17 Government Debt and Budget Deficits
17-2 Measurement Problems in Chapter 17 Government Debt and Budget Deficits
17-3 The Traditional View of Government Debt in Chapter 17 Government Debt and Budget Deficits
17-4 The Ricardian View of Government Debt in Chapter 17 Government Debt and Budget Deficits
17-5 Other Perspectives on Government Debt in Chapter 17 Government Debt and Budget Deficits
17-6 Conclusion in Chapter 17 Government Debt and Budget Deficits
Chapter 18 The Financial System: Opportunities and Dangers in Part V Topics in Macroeconomic Theory and Policy
18-1 What Does the Financial System Do? in Chapter 18 The Financial System: Opportunities and Dangers
18-2 Financial Crises in Chapter 18 The Financial System: Opportunities and Dangers
18-3 Conclusion in Chapter 18 The Financial System: Opportunities and Dangers
Chapter 19 The Microfoundations of Consumption and Investment in Part V Topics in Macroeconomic Theory and Policy
19-1 What Determines Consumer Spending? in Chapter 19 The Microfoundations of Consumption and Investment
19-2 What Determines Investment Spending? in Chapter 19 The Microfoundations of Consumption and Investment
19-3 Conclusion: The Key Role of Expectations in Chapter 19 The Microfoundations of Consumption and Investment
Epilogue
Glossary
Index