Macroeconomics : policy and practice

Macroeconomics policy and practice

For courses in Intermediate Macroeconomics Help students understand macroeconomics in theory as well as practice Macroeconomics: Policy and Practice, Second Edition draws on the rich tapestry of recent economic events to help students understand the policy issues debated by the media and the publi...

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Bibliographic Details
Other Authors: Mishkin, Frederic S., author (author)
Format: eBook
Language:Inglés
Published: Boston : Pearson 2015.
Edition:Second edition, Global edition
Series:Always learning.
Pearson custom library.
Subjects:
Macroeconomics.
Libros electrónicos.
See on Biblioteca Universitat Ramon Llull:https://discovery.url.edu/permalink/34CSUC_URL/1im36ta/alma991009670033106719
Table of Contents:
  • Cover
  • Title
  • Copyright
  • Brief Contents
  • Contents
  • Preface
  • About the Author
  • PART 1 Introduction
  • Chapter 1 THE POLICY AND PRACTICE OF MACROECONOMICS
  • PREVIEW
  • THE PRACTICE OF MACROECONOMICS
  • The Process: Developing Macroeconomic Models
  • The Purpose: Interpreting Macroeconomic Data
  • MACROECONOMIC POLICY
  • How Can Poor Countries Get Rich?
  • Is Saving Too Low?
  • Do Government Budget Deficits Matter?
  • How Costly Is It to Reduce Inflation?
  • How Can We Make Financial Crises Less Likely?
  • How Active Should Stabilization Policy Be?
  • Should Macroeconomic Policy Follow Rules?
  • Are Global Trade Imbalances a Danger?
  • HOW WE WILL STUDY MACROECONOMICS
  • Emphasis on Policy and Practice
  • Concluding Remarks
  • SUMMARY
  • KEY TERMS
  • REVIEW QUESTIONS
  • PROBLEMS
  • DATA ANALYSIS PROBLEMS
  • Chapter 2 MEASURING MACROECONOMIC DATA
  • PREVIEW
  • MEASURING ECONOMIC ACTIVITY: NATIONAL INCOME ACCOUNTING
  • MEASURING GDP: THE PRODUCTION APPROACH
  • Market Value
  • Final Goods and Services
  • Newly Produced Goods and Services
  • Fixed Period of Time
  • POLICY AND PRACTICE: Can GDP Buy Happiness?
  • Stocks Versus Flows
  • MEASURING GDP: THE EXPENDITURE APPROACH
  • Consumption Expenditure
  • Investment
  • Government Purchases
  • Meaning of the Word Investment
  • Net Exports
  • Changes in the Spending Components of GDP over Time
  • MEASURING GDP: THE INCOME APPROACH
  • Categories of Income
  • An International Comparison of Expenditure Components
  • Income Measures
  • REAL VERSUS NOMINAL GDP
  • Nominal Variables
  • Real Variables
  • Chain-Weighted Measures of Real GDP
  • MEASURING INFLATION
  • GDP Deflator
  • PCE Deflator
  • Consumer Price Index
  • POLICY AND PRACTICE: Policy and Overstatements of the Cost of Living
  • Inflation Rate
  • Percentage Change Method and the Inflation Rate
  • MEASURING UNEMPLOYMENT.
  • MACROECONOMICS IN THE NEWS: Unemployment and Employment
  • MEASURING INTEREST RATES
  • Types of Interest Rates
  • MACROECONOMICS IN THE NEWS: Interest Rates
  • Real Versus Nominal Interest Rates
  • The Important Distinction Between Real and Nominal Interest Rates
  • SUMMARY
  • KEY TERMS
  • REVIEW QUESTIONS
  • PROBLEMS
  • DATA ANALYSIS PROBLEMS
  • PART 2 Macroeconomic Basics
  • Chapter 3 AGGREGATE PRODUCTION AND PRODUCTIVITY
  • PREVIEW
  • DETERMINANTS OF AGGREGATE PRODUCTION
  • Factors of Production
  • Production Function
  • Cobb-Douglas Production Function
  • APPLICATION: Why Are Some Countries Rich and Others Poor?
  • Cobb-Douglas Production Function Characteristics
  • Changes in the Production Function: Supply Shocks
  • DETERMINATION OF FACTOR PRICES
  • Demand for Capital and Labor
  • Supply of Capital and Labor
  • Factor Market Equilibrium
  • DISTRIBUTION OF NATIONAL INCOME
  • APPLICATION: Explaining Real Wage Growth
  • APPLICATION: Oil Shocks, Real Wages, and the Stock Market
  • Concluding Remarks
  • SUMMARY
  • KEY TERMS
  • REVIEW QUESTIONS
  • PROBLEMS
  • DATA ANALYSIS PROBLEMS
  • Chapter 4 SAVING AND INVESTMENT IN CLOSED AND OPEN ECONOMIES
  • PREVIEW
  • RELATIONSHIP BETWEEN SAVING AND WEALTH
  • Private Saving
  • Government Saving
  • National Saving
  • POLICY AND PRACTICE: Government Policies to Stimulate Saving
  • Uses of Saving
  • The Link Between Saving and Wealth
  • MACROECONOMICS IN THE NEWS: Balance of Payments Accounts
  • APPLICATION: How the United States Became the Largest Net Debtor in the World
  • SAVING, INVESTMENT, AND GOODS MARKET EQUILIBRIUM IN A CLOSED ECONOMY
  • Saving and Investment Equation
  • Saving
  • Investment
  • Goods Market Equilibrium
  • RESPONSE TO CHANGES IN SAVING AND INVESTMENT IN A CLOSED ECONOMY
  • Changes in Saving: Autonomous Consumption
  • Changes in Saving: Effects of Fiscal Policy.
  • POLICY AND PRACTICE: Crowding Out and the Debate over the 2009 Fiscal Stimulus Package
  • Changes in Autonomous Investment
  • SAVING, INVESTMENT, AND GOODS MARKET EQUILIBRIUM IN AN OPEN ECONOMY
  • Perfect Capital Mobility and the Open Economy
  • Goods Market Equilibrium in an Open Economy
  • SAVING, INVESTMENT, AND THE TRADE BALANCE IN A SMALL OPEN ECONOMY
  • Goods Market Equilibrium in a Small Open Economy
  • Connection Between the World Economy and the Small Open Economy
  • RESPONSE TO CHANGES IN SAVING AND INVESTMENT IN A SMALL OPEN ECONOMY
  • Changes in Domestic Saving
  • APPLICATION: The Twin Deficits
  • Changes in Investment
  • LARGE VERSUS SMALL OPEN ECONOMIES
  • SUMMARY
  • KEY TERMS
  • REVIEW QUESTIONS
  • PROBLEMS
  • DATA ANALYSIS PROBLEMS
  • Chapter 4 Web Appendix SAVING AND INVESTMENT IN LARGE OPEN ECONOMIES
  • Chapter 5 MONEY AND INFLATION
  • PREVIEW
  • WHAT IS MONEY?
  • Meaning of Money
  • Functions of Money
  • Unusual Forms of Money
  • CENTRAL BANKS AND THE CONTROL OF THE MONEY SUPPLY
  • Federal Reserve Banks
  • Board of Governors of the Federal Reserve System
  • Federal Open Market Committee (FOMC)
  • The European Central Bank
  • Control of the Money Supply
  • MEASURING MONEY
  • The Federal Reserve's Monetary Aggregates
  • Where Are All the U.S. Dollars and the Euros?
  • The Fed's Use of M1 Versus M2 in Practice
  • QUANTITY THEORY OF MONEY
  • Velocity of Money and the Equation of Exchange
  • From the Equation of Exchange to the Quantity Theory of Money
  • The Classical Dichotomy
  • Quantity Theory and the Price Level
  • Quantity Theory and Inflation
  • APPLICATION: Testing the Quantity Theory of Money
  • HYPERINFLATION
  • POLICY AND PRACTICE: The Zimbabwean Hyperinflation
  • INFLATION AND INTEREST RATES
  • APPLICATION: Testing the Fisher Effect
  • THE COST OF INFLATION
  • Costs of Anticipated Inflation.
  • Costs of Unanticipated Inflation
  • SUMMARY
  • KEY TERMS
  • REVIEW QUESTIONS
  • PROBLEMS
  • DATA ANALYSIS PROBLEMS
  • Chapter 5 Appendix THE MONEY SUPPLY PROCESS
  • THE FED'S BALANCE SHEET
  • Liabilities
  • Assets
  • CONTROL OF THE MONETARY BASE
  • Federal Reserve Open Market Operations
  • Shifts from Deposits into Currency
  • Discount Loans
  • Overview of the Fed's Ability to Control the Monetary Base
  • MULTIPLE DEPOSIT CREATION: A SIMPLE MODEL
  • Deposit Creation: The Single Bank
  • Deposit Creation: The Banking System
  • Critique of the Simple Model
  • FACTORS THAT DETERMINE THE MONEY SUPPLY
  • Changes in the Nonborrowed Monetary Base
  • Changes in Borrowed Reserves from the Fed
  • Changes in the Required Reserve Ratio
  • Changes in Currency Holdings
  • Changes in Excess Reserves
  • Overview of the Money Supply Process
  • THE MONEY MULTIPLIER
  • Deriving the Money Multiplier
  • Intuition Behind the Money Multiplier
  • Money Supply Response to Changes in the Factors
  • APPLICATION: Quantitative Easing and the Money Supply, 2007-2013
  • SUMMARY
  • KEY TERMS
  • REVIEW QUESTIONS AND PROBLEMS
  • DATA ANALYSIS PROBLEMS
  • Chapter 5 Web Appendix APPLICATION: THE GREAT DEPRESSION BANK PANICS AND THE MONEY SUPPLY, 1930-1933
  • PART 3 Long-Run Economic Growth
  • Chapter 6 THE SOURCES OF GROWTH AND THE SOLOW MODEL
  • PREVIEW
  • ECONOMIC GROWTH AROUND THE WORLD
  • THE SOLOW GROWTH MODEL
  • Building Blocks of the Solow Growth Model
  • Time Subscripts
  • Dynamics of the Solow Growth Model
  • Convergence in the Solow Model
  • The "Bathtub Model" of the Steady State
  • APPLICATION: Evidence on Convergence, 1960-2012
  • War, Destruction, and Growth Miracles
  • SAVING RATE CHANGES IN THE SOLOW MODEL
  • POPULATION GROWTH IN THE SOLOW MODEL
  • Population Growth and the Steady State
  • Changes in Population Growth
  • Population Growth and Real GDP Per Capita.
  • POLICY AND PRACTICE: China's One-Child Policy and Other Policies to Limit Population Growth
  • PRODUCTIVITY GROWTH IN THE SOLOW MODEL
  • Technology Growth and the Steady State
  • SUMMING UP THE SOLOW MODEL
  • Solow Model: The Results
  • Solow Model: Limitations
  • SOURCES OF ECONOMIC GROWTH: GROWTH ACCOUNTING
  • Growth Accounting Equation
  • Growth Accounting in Practice
  • APPLICATION: U.S. Growth Rates in the Postwar Period
  • CROSS-COUNTRY DIFFERENCES IN GROWTH ACCOUNTING RATES
  • SUMMARY
  • KEY TERMS
  • REVIEW QUESTIONS
  • PROBLEMS
  • DATA ANALYSIS PROBLEMS
  • Chapter 6 Appendix THE ALGEBRA OF THE SOLOW GROWTH MODEL
  • SOLVING FOR THE STEADY STATE
  • SUMMARY AND RESULTS
  • REVIEW QUESTIONS AND PROBLEMS
  • Chapter 6 Web Appendix THE GOLDEN RULE LEVEL OF THE CAPITAL-LABOR RATIO
  • Chapter 7 DRIVERS OF GROWTH: TECHNOLOGY, POLICY, AND INSTITUTIONS
  • PREVIEW
  • TECHNOLOGY AS A PRODUCTION INPUT
  • Technology Versus Conventional Production Inputs
  • Technology and Excludability
  • POLICIES TO PROMOTE PRODUCTIVITY
  • Building Infrastructure
  • Increasing Human Capital
  • POLICY AND PRACTICE: Government Measures to Increase Human Capital
  • Encouraging Research and Development
  • INSTITUTIONS AND PROPERTY RIGHTS
  • The Legal System and Property Rights
  • Geography, the Legal System, and Economic Growth
  • Obstacles to Effective Property Rights
  • POLICY AND PRACTICE: The World Bank's Doing Business
  • POLICY AND PRACTICE: Does Foreign Aid Work?
  • ENDOGENOUS GROWTH THEORY
  • Allocation of Labor
  • Production Function
  • Production of Technology
  • Sustained Growth in the Romer Model
  • FACTORS THAT AFFECT ENDOGENOUS GROWTH
  • Effects of an Increase in the Fraction of the Population Engaged in R&D, α
  • Effect of Changes in the Productiveness of R&D, χ
  • Response to an Increase in the Total Population, N.
  • APPLICATION: Does Population Growth Improve Living Standards?.

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