Macroeconomics global edition
For intermediate courses in Economics. A Unified View of the Latest Macroeconomic Events In Macroeconomics, Blanchard presents a unified, global view of macroeconomics, enabling students to see the connections between goods markets, financial markets, and labor markets worldwide. Organized into...
| Otros Autores: | |
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| Formato: | Libro electrónico |
| Idioma: | Inglés |
| Publicado: |
Boston, Massachusetts :
Pearson
[2013]
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| Edición: | Seventh edition, Global edition |
| Materias: | |
| Ver en Biblioteca Universitat Ramon Llull: | https://discovery.url.edu/permalink/34CSUC_URL/1im36ta/alma991009632534206719 |
Tabla de Contenidos:
- Cover
- Title Page
- Copyright
- Brief Contents
- Contents
- Preface
- The Core
- Introduction
- Chapter 1 A Tour of the World
- 1-1 The Crisis
- 1-2 The United States
- Low Interest Rates and the Zero Lower Bound
- How Worrisome Is Low Productivity Growth?
- 1-3 The Euro Area
- Can European Unemployment Be Reduced?
- What Has the Euro Done for Its Members?
- 1-4 China
- 1-5 Looking Ahead
- Appendix: Where to Find the numbers
- Chapter 2 A Tour of the Book
- 2-1 Aggregate Output
- GDP: Production and Income
- Nominal and Real GDP
- GDP: Level versus Growth Rate
- 2-2 The Unemployment Rate
- Why Do Economists Care about Unemployment?
- 2-3 The Inflation Rate
- The GDP Deflator
- The Consumer Price Index
- Why Do Economists Care about Inflation?
- 2-4 Output, Unemployment, and the Inflation Rate: Okun's Law and the Phillips Curve
- Okun's Law
- The Phillips Curve
- 2-5 The Short Run, the Medium Run, and the Long Run
- 2-6 A Tour of the Book
- The Core
- Extensions
- Back to Policy
- Epilogue
- Appendix: The Construction of Real GDP and Chain-Type Indexes
- The Short Run
- Chapter 3 The Goods Market
- 3-1 The Composition of GDP
- 3-2 The Demand for Goods
- Consumption (C)
- Investment (I)
- Government Spending (G)
- 3-3 The Determination of Equilibrium Output
- Using Algebra
- Using a Graph
- Using Words
- How Long Does It Take for Output to Adjust?
- 3-4 Investment Equals Saving: An Alternative Way of Thinking about Goods-Market Equilibrium
- 3-5 Is the Government Omnipotent? A Warning
- Chapter 4 Financial Markets I
- 4-1 The Demand for Money
- Deriving the Demand for Money
- 4-2 Determining the Interest Rate: I
- Money Demand, Money Supply, and the Equilibrium Interest Rate
- Monetary Policy and Open Market Operations
- Choosing Money or Choosing the Interest Rate?.
- 4-3 Determining the Interest Rate: II
- What Banks Do
- The Demand and Supply for Central Bank Money
- The Federal Funds Market and the Federal Funds Rate
- 4-4 The Liquidity Trap
- Appendix: The Determination of the Interest Rate When People Hold BothCurrency and Checkable Deposits
- Chapter 5 Goods and Financial Markets
- The IS-LM Model
- 5-1 The Goods Market and the IS Relation
- Investment, Sales, and the Interest Rate
- Determining Output
- Deriving the IS Curve
- Shifts of the IS Curve
- 5-2 Financial Markets and the LM Relation
- Real Money, Real Income, and the Interest Rate
- Deriving the LM Curve
- 5-3 Putting the IS and the LM Relations Together
- Fiscal Policy
- Monetary Policy
- 5-4 Using a Policy Mix
- 5-5 How Does the IS-LM Model Fit the Facts?
- Chapter 6 Financial Markets II: The Extended Model
- 6-1 Nominal versus Real Interest Rates
- Nominal and Real Interest Rates in the United States since 1978
- Nominal and Real Interest Rates: The Zero Lower Bound and Deflation
- 6-2 Risk and Risk Premia
- 6-3 The Role of Financial Intermediaries
- The Choice of Leverage
- Leverage and Lending
- 6-4 Extending the IS-LM
- Financial Shocks and Policies
- 6-5 From a Housing Problem to a Financial Crisis
- Housing Prices and Subprime Mortgages
- The Role of Financial Intermediaries
- Macroeconomic Implications
- Policy Responses
- The Medium Run
- Chapter 7 The Labor Market
- 7-1 A Tour of the Labor Market
- The Large Flows of Workers
- 7-2 Movements in Unemployment
- 7-3 Wage Determination
- Bargaining
- Efficiency Wages
- Wages, Prices, and Unemployment
- The Expected Price Level
- The Unemployment Rate
- The Other Factors
- 7-4 Price Determination
- 7-5 The Natural Rate of Unemployment
- The Wage-Setting Relation
- The Price-Setting Relation
- Equilibrium Real Wages and Unemployment.
- 7-6 Where We Go from Here
- Appendix: Wage- and Price-Setting Relations versus Labor Supplyand Labor Demand
- Chapter 8 The Phillips Curve, the Natural Rate of Unemployment, and Inflation
- 8-1 Inflation, Expected Inflation, and Unemployment
- 8-2 The Phillips Curve and Its Mutations
- The Early Incarnation
- The Apparent Trade-Off and Its Disappearance
- 8-3 The Phillips Curve and the Natural Rate of Unemployment
- 8-4 A Summary and Many Warnings
- Variations in the Natural Rate across Countries
- Variations in the Natural Rate over Time
- High Inflation and the Phillips Curve Relation
- Deflation and the Phillips Curve Relation
- Appendix: Derivation of the Relation to a Relation between Inflation,Expected Inflation, and Unemployment
- Chapter 9 From the Short to the Medium Run: The IS-LM-PC Model
- 9-1 The IS-LM-PC model
- 9-2 Dynamics and the Medium Run Equilibrium
- The Role of Expectations Revisited
- The Zero Lower Bound and Debt Spirals
- 9-3 Fiscal Consolidation Revisited
- 9-4 The Effects of an Increase in the Price of Oil
- Effects on the Natural Rate of Unemployment
- 9-5 Conclusions
- The Short Run versus the Medium Run
- Shocks and Propagation Mechanisms
- The Long Run
- Chapter 10 The Facts of Growth
- 10-1 Measuring the Standard of Living
- 10-2 Growth in Rich Countries since 1950
- The Large Increase in the Standard of Living since 1950
- The Convergence of Output per Person
- 10-3 A Broader Look across Time and Space
- Looking across Two Millennia
- Looking across Countries
- 10-4 Thinking about Growth: A Primer
- The Aggregate Production Function
- Returns to Scale and Returns to Factors
- Output per Worker and Capital per Worker
- The Sources of Growth
- Chapter 11 Saving, Capital Accumulation, and Output
- 11-1 Interactions between Output and Capital
- The Effects of Capital on Output.
- The Effects of Output on Capital Accumulation
- Output and Investment
- Investment and Capital Accumulation
- 11-2 The Implications of Alternative Saving Rates
- Dynamics of Capital and Output
- The Saving Rate and Output
- The Saving Rate and Consumption
- 11-3 Getting a Sense of Magnitudes
- The Effects of the Saving Rate on Steady-State Output
- The Dynamic Effects of an Increase in the Saving Rate
- The U.S. Saving Rate and the Golden Rule
- 11-4 Physical versus Human Capital
- Extending the Production Function
- Human Capital, Physical Capital, and Output
- Endogenous Growth
- Appendix: The Cobb-Douglas Production Function and the Steady State
- Chapter 12 Technological Progress and Growth
- 12-1 Technological Progress and the Rate of Growth
- Technological Progress and the Production Function
- Interactions between Output and Capital
- Dynamics of Capital and Output
- The Effects of the Saving Rate
- 12-2 The Determinants of Technological Progress
- The Fertility of the Research Process
- The Appropriability of Research Results
- Management, Innovation, and Imitation
- 12-3 Institutions, Technological Progress, and Growth
- 12-4 The Facts of Growth Revisited
- Capital Accumulation versus Technological Progress in Rich Countries since 1985
- Capital Accumulation versus Technological Progress in China
- Appendix : Constructing a Measure of Technological Progress
- Chapter 13 Technological Progress: The Short, the Medium, and the Long Run
- 13-1 Productivity, Output, and Unemployment in the Short Run
- The Empirical Evidence
- 13-2 Productivity and the Natural Rate of Unemployment
- Price Setting and Wage Setting Revisited
- The Natural Rate of Unemployment
- The Empirical Evidence
- 13-3 Technological Progress, Churning, and Inequality
- The Increase in Wage Inequality.
- The Causes of Increased Wage Inequality
- Inequality and the Top 1%
- EXTENSIONS
- Expectations
- Chapter 14 Financial Markets and Expectations
- 14-1 Expected Present Discounted Values
- Computing Expected Present Discounted Values
- A General Formula
- Using Present Values: Examples
- Constant Interest Rates
- Constant Interest Rates and Payments
- Constant Interest Rates and Payments Forever
- Zero Interest Rates
- Nominal versus Real Interest Rates and Present Values
- 14-2 Bond Prices and Bond Yields
- Bond Prices as Present Values
- Arbitrage and Bond Prices
- From Bond Prices to Bond Yields
- Reintroducing Risk
- Interpreting the Yield Curve
- 14-3 The Stock Market and Movements in Stock Prices
- Stock Prices as Present Values
- The Stock Market and Economic Activity
- A Monetary Expansion and the Stock Market
- An Increase in Consumer Spending and the Stock Market
- 14-4 Risk, Bubbles, Fads, and Asset Prices
- Stock Prices and Risk
- Asset Prices, Fundamentals, and Bubbles
- Appendix: Deriving the Expected Present Discounted Value UsingReal or Nominal Interest Rates
- Chapter 15 Expectations, Consumption, and Investment
- 15-1 Consumption
- The Very Foresighted Consumer
- An Example
- Toward a More Realistic Description
- Putting Things Together: Current Income, Expectations, and Consumption
- 15-2 Investment
- Investment and Expectations of Profit
- Depreciation
- The Present Value of Expected Profits
- The Investment Decision
- A Convenient Special Case
- Current versus Expected Profit
- Profit and Sales
- 15-3 The Volatility of Consumption and Investment
- Appendix: Derivation of the Expected Present Value of Profits underStatic Expectations
- Chapter 16 Expectations, Output, and Policy
- 16-1 Expectations and Decisions: Taking Stock
- Expectations, Consumption, and Investment Decisions.
- Expectations and the IS Relation.
