Macroeconomics a European perspective

A Unified View of the Latest Macroeconomic Events In Macroeconomics, European Edition Blanchard, Giavazzi and Amighini present a unified, global and European view of macroeconomics, enabling students to see the connections between goods markets, financial markets, and labour markets worldwide....

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Detalles Bibliográficos
Otros Autores:	Blanchard, Olivier author (author), Giavazzi, Francesco, author, Amighini, Alessia, author
Formato:	Libro electrónico
Idioma:	Inglés
Publicado:	New York, New York State : Pearson [2017]
Edición:	Third edition
Materias:	Macroeconomics > Europe. Libros electrónicos.
Ver en Biblioteca Universitat Ramon Llull:	https://discovery.url.edu/permalink/34CSUC_URL/1im36ta/alma991009632534806719

Tabla de Contenidos:

Cover
Title Page
Copyright Page
Brief Contetns
Contents
List of figures
List of tables
List of Focus boxes
About the authors
Preface
Publisher's acknowledgements
INTRODUCTION
Chapter 1 A tour of the world
1.1 The crisis
1.2 The United States
1.3 The euro area
1.4 China
1.5 Looking ahead
Key terms
Questions and problems
Further reading
Appendix: Where to find the numbers
Chapter 2 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
Summary
Key terms
Questions and problems
Further reading
Appendix: The construction of real GDP and chain-type indexes
THE CORE
THE SHORT RUN
Chapter 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
Summary
Key terms
Questions and problems
Chapter 4 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
Summary
Key terms
Questions and problems
Further reading
Appendix: The determination of the interest rate when people hold both currency and deposit accounts
Chapter 5 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 How does the IS-LM model fit the facts?
Summary
Key terms
Questions and problems.
Further reading
Chapter 6 Financial markets II
6.1 Nominal versus real interest rates
6.2 Risk and risk premiums
6.3 The role of financial intermediaries
6.4 Extending the IS-LM
6.5 From a housing problem to a financial crisis
Summary
Key terms
Questions and problems
Further reading
THE MEDIUM RUN
Chapter 7 The labour market
7.1 A tour of the labour 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
Summary
Key terms
Questions and problems
Further reading
Appendix: Wage- and price-setting relations versus labour supply and labour 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
8.3 The Phillips curve and the natural rate of unemployment
8.4 A summary and many warnings
Summary
Key terms
Questions and problems
Further reading
Appendix: Derivation of the relation between inflation, expected inflation and unemployment
Chapter 9 Putting all markets together: from the short to the medium run
9.1 The IS-LM-PC model
9.2 Dynamics and the medium-run equilibrium
9.3 Fiscal consolidation revisited
9.4 The effects of an increase in the price of oil
9.5 Conclusions
Summary
Key terms
Questions and problems
THE LONG RUN
Chapter 10 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
Summary
Key terms
Questions and problems
Further reading
Chapter 11 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
Summary
Key terms
Questions and problems
Further reading
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
12.2 The determinants of technological progress
12.3 Institutions, technological progress and growth
12.4 The facts of growth revisited
Summary
Key terms
Questions and problems
Further reading
Appendix: Constructing a measure of technological progress
Chapter 13 Technological progress: the short, the medium and the long runs
13.1 Productivity, output and unemployment in the short run
13.2 Productivity and the natural rate of unemployment
13.3 Technological progress, churning and inequality
Summary
Key terms
Questions and problems
Further reading
EXTENSIONS
EXPECTATIONS
Chapter 14 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
Summary
Key terms
Questions and problems
Further reading
Appendix: Deriving the expected present discounted value using real or nominal interest rates
Chapter 15 Expectations, consumption and investment
15.1 Consumption
15.2 Investment
15.3 The volatility of consumption and investment
Summary
Key terms
Questions and problems
Appendix: Derivation of the expected present value of profits under static expectations
Chapter 16 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.
Summary
Key terms
Questions and problems
THE OPEN ECONOMY
Chapter 17 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
Summary
Key terms
Questions and problems
Further reading
Chapter 18 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 Looking at dynamics: the J-curve
18.6 Saving, investment and the current account balance
Summary
Key terms
Questions and problems
Further reading
Appendix: Derivation of the Marshall-Lerner condition
Chapter 19 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
Summary
Key terms
Questions and problems
Appendix: Fixed exchange rates, interest rates and capital mobility
Chapter 20 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
Summary
Key terms
Questions and problems
Further reading
Appendix 1: Deriving the IS relation under fixed exchange rates
Appendix 2: The real exchange rate and domestic and foreign real interest rates
BACK TO POLICY
Chapter 21 Should policy makers be restrained?
21.1 Uncertainty and policy
21.2 Expectations and policy
21.3 Politics and policy
Summary
Key terms
Questions and problems
Further reading
Chapter 22 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
Summary
Key terms
Questions and problems
Further reading
Chapter 23 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
Summary
Key terms
Questions and problems
Further reading
Appendix: The time inconsistency problem: Barro and Gordon model
EPILOGUE
Chapter 24 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 2009 crisis
24.5 First lessons for macroeconomics after the crisis
Summary
Key terms
Further reading
Appendix 1 An introduction to national income and product accounts
Appendix 2 A maths refresher
Appendix 3 An introduction to econometrics
Glossary
Symbols used in this book
Index.

Macroeconomics a European perspective

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