Macroeconomics, Global Edition

Name: Macroeconomics, Global Edition
Price: 4490 ISK
Availability: InStock
Author: Olivier Blanchard
ISBN: 9781292731353

Höfundur: Olivier Blanchard (Útgáfa: 9)

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Útgefandi: Pearson International Content

ISBN: 9781292731353

Print ISBN: 9781292463216

Format: ePub

Útgáfa: 9

Höfundar: Olivier Blanchard

Tungumál: English

Útgefið: 2025-12-12

Prent takmörkun á líftíma: 100

Prent takmörkun: 2

Afritunar takmörkun: 2

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Cover
Cover
Title Page
Macroeconomics
Front Matter
Section 1: Copyright
Section 2: Dedication
Section 3: Flexible Organization
Section 4: Focus Boxes
Section 5: Preface
Section 6: About the Authors
Part 1: Introduction
Part 1: Introduction
1: A Tour of the World
Introduction: A Tour of the World
1.1: The Covid Crisis, Inflation, and Interest Rates
1.2: The Increase in Public Debt
1.3: The Growth of China
1.4: World’s Major Economic Powers
1.5: Growth and Inequality
1.6: Global Warming
1.7: The Methodology of Macroeconomics
Looking Ahead
Chapter Problems
Appendix 1: Where to Find the Numbers
Appendix 2: What Do Macroeconomists Do?
2: A Tour of the Book
Introduction: A Tour of the Book
2.1: Aggregate Output
2.2: The Unemployment Rate
2.3: The Inflation Rate
2.4: Output, Unemployment, and The Inflation Rate: Okun’s Law and The Phillips Curve
2.5: The Short Run, the Medium Run, and the Long Run
2.6: A Tour of the Book
Chapter Summary and Problems
Appendix: The Construction of Real GDP and Chain-Type Indexes
Part 2: The Short Run
Part 2: The Short Run
3: The Goods Market
Introduction: 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 Goods–Market Equilibrium
3.5: Is the Government Omnipotent? A Warning
Chapter Summary and Problems
4: Financial Markets I
Introduction: Financial Markets I
4.1: The Demand for Money
4.2: Determining the Interest Rate: I
4.3: Determining the Interest Rate: II
4.4: The Liquidity Trap
Chapter Summary and Problems
5: Goods and Financial Markets: The IS-LM Model
Introduction: 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 LM Relations Together
5.4: Using a Policy Mix
5.5: How Does the IS-LM Model Fit the Facts?
Chapter Summary and Problems
6: Financial Markets II: The Extended IS-LM Model
Introduction: Financial Markets II: The Extended IS-LM Model
6.1: Nominal versus Real Interest Rates
6.2: Risk and Risk Premia
6.3: The Role of Financial Intermediaries
6.4: Extending the IS-LM Model
6.5: The Global Financial Crisis: From a Housing Problem to a Financial Crisis
Chapter Summary and Problems
Part 3: The Medium Run
Part 3: The Medium Run
7: The Labor Market
Introduction: The Labor Market
7.1: A Tour of the Indian Labor Market
7.2: Movements in Unemployment
7.3: Wage Determination
7.4: Price Determination
7.5: The Natural Rate of Unemployment
7.6: Where We Go from Here
Chapter Summary and Problems
Appendix: Wage- and Price-Setting Relations versus Labor Supply and Labor Demand
8: The Phillips Curve, the Natural Rate of Unemployment, and Inflation
Introduction: The Phillips Curve, the Natural Rate of Unemployment, and Inflation
8.1: Inflation, Expected Inflation, and Unemployment
8.2: The Role of Inflation Expectations
8.3: The Role of Supply Shocks, and Covid Inflation
8.4: A Summary and Many Warnings
Chapter Summary and Problems
Appendix: Derivation of the Relation Between Inflation, Expected Inflation, and Unemployment
9: From the Short to the Medium Run: The IS-LM-PC Model
Introduction: From the Short to the Medium Run: The IS-LM-PC Model
9.1: The IS-LM-PC Model
9.2: From the Short to the Medium Run
9.3: Complications, and How Things Can Go Wrong
9.4: Fiscal Consolidation Revisited
9.5: Conclusions
Chapter Summary and Problems
Part 3: The Long Run
Part 3: The Long Run
10: The Facts of Growth
Introduction: The Facts of Growth
10.1: Measuring the Standard of Living
10.2: Growth in Rich Countries since 1950
10.3: A Broader Look across Time and Space
10.4: Thinking about Growth: A Primer
Chapter Summary and Problems
11: Saving, Capital Accumulation, and Output
Introduction: Saving, Capital Accumulation, and Output
11.1: Interactions between Output and Capital
11.2: The Implications of Alternative Saving Rates
11.3: Getting a Sense of Magnitudes
11.4: Physical versus Human Capital
Chapter Summary and Problems
Appendix: The Cobb-Douglas Production Function and the Steady State
12: Technological Progress and Growth
Introduction: Technological Progress and Growth
12.1: Technological Progress and the Rate of Growth
12.2: The Determinants of Technological Progress
12.3: Institutions, Technological Progress, and Growth
Chapter Summary and Problems
Appendix: How to Measure Technological Progress, and the Application to China
13: The Challenges of Growth
Introduction: The Challenges of Growth
13.1: The Future of Technological Progress
13.2: Technological Progess and Unemployment
13.3: Growth, Churn, and Inequality
13.4: Climate Change and Global Warming
Chapter Summary and Problems
Part 4: Expectations
Part 4: Expectations
14: Financial Markets and Expectations
Introduction: Financial Markets and Expectations
14.1: Expected Present Discounted Values
14.2: Bond Prices and Bond Yields
14.3: The Stock Market and Movements in Stock Prices
14.4: Risk, Bubbles, Fads, and Asset Prices
Chapter Summary and Problems
Appendix: Deriving the Expected Present Discounted Value Using Real or Nominal Interest Rates
15: Expectations, Consumption, and Investment
Introduction: Expectations, Consumption, and Investment
15.1: Consumption
15.2: Investment
15.3: The Volatility of Consumption and Investment
Chapter Summary and Problems
Appendix: Derivation of the Expected Present Value of Profits under Static Expectations
16: Expectations, Output, and Policy
Introduction: Expectations, Output, and Policy
16.1: Expectations and Decisions: Taking Stock
16.2: Monetary Policy, Expectations, and Output
16.3: Deficit Reduction, Expectations, and Output
Chapter Summary and Problems
Part 5: The Open Economy
Part 5: The Open Economy
17: Openness in Goods and Financial Markets
Introduction: Openness in Goods and Financial Markets
17.1: Openness in Goods Markets
17.2: Openness in Financial Markets
17.3: Conclusions and a Look Ahead
Chapter Summary and Problems
18: The Goods Market in an Open Economy
Introduction: The Goods Market in an Open Economy
18.1: The IS Relation in the Open Economy
18.2: Equilibrium Output and the Trade Balance
18.3: Increases in Demand—Domestic or Foreign
18.4: Depreciation, the Trade Balance, and Output
18.5: Saving, Investment, and the Current Account Balance
Chapter Summary and Problems
Appendix: Derivation of the Marshall–Lerner Condition
19: Output, the Interest Rate, and the Exchange Rate
Introduction: Output, the Interest Rate, and the Exchange Rate
19.1: Equilibrium in the Goods Market
19.2: Equilibrium in Financial Markets
19.3: Putting Goods and Financial Markets Together
19.4: The Effects of Policy in an Open Economy
19.5: Fixed Exchange Rates
Chapter Summary and Problems
Appendix: Fixed Exchange Rates, Interest Rates, and Capital Mobility
20: Exchange Rate Regimes
Introduction: Exchange Rate Regimes
20.1: The Medium Run
20.2: Exchange Rate Crises Under Fixed Exchange Rates
20.3: Exchange Rate Movements under Flexible Exchange Rates
20.4: Choosing between Exchange Rate Regimes
Chapter Summary and Problems
Appendix 1: Deriving the IS Relation under Fixed Exchange Rates
Appendix 2: The Real Exchange Rate and Domestic and Foreign Real Interest Rates
Part 6: Back to Policy
Part 6: Back to Policy
21: Should Policymakers Be Restrained?
Introduction: Should Policymakers Be Restrained?
21.1: Uncertainty and Policy
21.2: Expectations and Policy
21.3: Politics and Policy
Chapter Summary and Problems
22: Fiscal Policy: A Summing Up
Introduction: Fiscal Policy: A Summing Up
22.1: What We Have Learned
22.2: The Government Budget Constraint: Deficits, Debt, Spending, and Taxes
22.3: Ricardian Equivalence, Cyclical Adjusted Deficits, and War Finance
22.4: The Dangers of High Debt
22.5: The Challenges Facing US Fiscal Policy Today
Chapter Summary and Problems
23: Monetary Policy: A Summing Up
Introduction: Monetary Policy: A Summing Up
23.1: What We Have Learned
23.2: From Money Targeting to Inflation Targeting
23.3: The Optimal Inflation Rate
23.4: Unconventional Monetary Policy
23.5: Monetary Policy and Financial Stability
23.6: Covid, Inflation, and Monetary Policy
Chapter Summary and Problems
24: Epilogue: The Story of Macroeconomics
Introduction: Epilogue: The Story of Macroeconomics
24.1: Keynes and the Great Depression
24.2: The Neoclassical Synthesis
24.3: The Rational Expectations Critique
24.4: Developments in Macroeconomics up to the Global Financial Crisis
24.5: Lessons from the Global Financial Crisis
24.6: Current Directions of Research
Chapter Summary and Problems
Appendix 1: An Introduction to the National Income and Product Accounts
Introduction: An Introduction to the National Income and Product Accounts
A1.1: The Income Side
A1.2: The Product Side
A1.3: The Federal Government in the National Income Accounts
A1.4: Warning
Key Terms and Further Readings
Appendix 2: A Math Refresher
Introduction: A Math Refresher
A2.1: Geometric Series
A2.2: Useful Approximations
A2.3: Functions
A2.4: Logarithmic Scales
Key Terms
Appendix 3: An Introduction to Econometrics
Introduction: An Introduction to Econometrics
A3.1: Changes in Consumption and in Disposable Income
A3.2: Correlation versus Causality
Key Terms
Credits
Credits
Symbols Used in This Book
Symbols Used in This Book
Additional Glossary Terms
Additional Glossary Terms
Glossary