Macroeconomics
Errol D'Souza's Macroeconomics helps students realize the connections between theoretical frameworks and the actual behaviour of the economy; enables instructors to teach macroeconomics concepts within the context of both the Indian and global economy; and provides policymakers with materi...
| Autor principal: | |
|---|---|
| Formato: | Libro electrónico |
| Idioma: | Inglés |
| Publicado: |
Noida :
Pearson India
2006.
|
| Edición: | Second edition |
| Materias: | |
| Ver en Biblioteca Universitat Ramon Llull: | https://discovery.url.edu/permalink/34CSUC_URL/1im36ta/alma991009825938806719 |
Tabla de Contenidos:
- Cover
- Macroeconomics
- Copyright
- About the Author
- Brief Contents
- Contents
- MacroFocus Boxes: Tying Theory to the Real World
- Preface
- The Development of This Book
- A Word of Thanks
- Macroeconomics: what is it About?
- Aggregate Income and Its Dimensions
- Income and Welfare
- Omissions in the Measurement of Aggregate Income
- Measuring Output
- The Underground Economy: Beneficial or Subversive?
- Connecting Output with Income
- Aggregate Income Categories
- Components of Aggregate Expenditure
- Chinese and Indian GDP: Re-emerging Economies?
- Real and Nominal Incomes
- Comparing Income Across Time
- Measures of Inflation
- Summary
- Notes
- Test Yourself
- Online Application
- The GDP Deflator
- Savings, the Balance of Payments, and the Money Supply
- The Sources and Use of Savings
- The Balance of Payments
- Forex Reserves: Index of Economic Strength?
- The Money Supply
- Bank Balance Sheets and the Money Supply
- Does Money Have a Future?
- The Money Multiplier
- Open-Market Operations and Reserves
- Summary
- Notes
- Test Yourself
- Online Application
- The Formula for theMoney Multiplier
- Consumption
- Keynes on Consumption
- Consumption Smoothing
- Intertemporal Constraints and Preferences
- Time Preference and the Permanent Income
- Emotions and Intertemporal Decisions
- Temporary and Permanent Shocks
- Stochastic Income Expectations
- Joint Families and Borrowing Constraints
- Effect of Interest Rates
- Aggregating Across Individuals
- Savings and Portfolio Choice
- House Prices and Consumption
- Summary
- Notes
- Test Yourself
- Ocline Application
- Borrowing Constraints
- Investment
- Profit Maximization and the Optimal Capital Stock
- Adjustment Costs and Investment Decisions
- Financial Structure and Investment
- Overconfidence and Investment.
- The Equity and the Value of the Firm
- Debt and Investment Financing
- Mature Firms and External Financing
- Collateral and Liquidity Constraints
- Residential and Inventory Investment
- Irreversibility and Investment
- India: An Inverted Pecking Order?
- Investment in Developing Countries
- Investment in India
- Summary
- Notes
- Test Yourself
- Online Application
- The Optimal Capital Stock When the Production Function Is Cobb-Douglas
- The Firm's Optimal Decision for Hiring Labour and Accumulating Capital (Investment)
- The Dynamic Optimization Approach to the Firm's Factor Accumulation Decision
- Value of the Firm's Equity
- Tobin's Q and the Rate of Interest
- The Trade Balance and Exchange Rates
- The Real Exchange Rate
- Real Exchange Rates and Net Exports
- The Marshall-Lerner Condition
- Other Approaches to the Trade Balance
- Devaluation in Developing Countries
- Does Devaluation Raise the Price of Imported Goods?
- Evidence on Devaluation
- Exchange Rates and Assets
- Uncovered and Covered Interest Parity
- Exchange Rate Determination
- Purchasing Power Parity
- Big Macs, iPods, and Professors' Salaries
- Choice of Exchange-Rate Regimes
- TheE uro
- Summary
- Notes
- Test Yourself
- Online Application
- The Trade Balance and the Real Exchange Rate
- The Demand for Money
- Money, Bonds, and Private Wealth
- Bond Pricing
- Private Sector Net Wealth
- Nominal and Real Interest Rates
- Financial Assets and the Budget Constraint
- The Determinants of the Real Money Demand
- Parametric Changes on the Money Demand
- Stock Markets, Exchange Rates, and the Money Demand
- Money as a Store of Value
- Seigniorage
- The Optimal Level of Seigniorage
- Saddam Dinars and Swiss Dinars
- Alternative Means of Obtaining Seigniorage
- Summary
- Notes
- Test Yourself
- Online Application.
- Preference Maximizing Choice of Consumption and Real Money Balances
- The Two-Period Budget Constraint
- Seigniorage and the Real Money Demand
- Currency Crises and Speculative Attacks
- The Inventory Demand for Money (Baumol-Tobin)
- The Labour Market
- Profit Maximization and Labour Demand
- Utility and Labour Supply
- Aggregate Supply with/without Money Illusion
- Introducing Unemployment
- Why Has Wage Inequality Increased?
- Keynesian Aggregate Supply
- Friedman on Mistaken Expectations
- Cyclical Unemployment and the Output Gap
- Unemployment and Wages in India
- The Static Phillips Curve
- The Dynamic Phillips Curve
- Summary
- Notes
- Test Youself
- Online Application
- The Mistaken Expectations Aggregate Supply Curve
- Separability Between Aggregate Demand and Supply
- The IS-LM Model
- Walras' Law
- Nominal Versus Real Rate of Interest
- The IS Curve
- Parametric Shifts of the IS Curve
- Slope of the IS Curve
- The LM Curve
- Impact of Varying the Money Supply
- Slope of the LM Curve
- IS and LM -Fiscal and Monetary Policy
- Interest Rate Targets and Monetary Policy
- Crowding Out
- Fiscalist and Monetarist Intervention
- Zero Interest Rates and Macro Policy in Japan
- IS-LM in India
- Ricardian Equivalence
- Summary
- Notes
- Test Yourself
- Online Application
- IS-LM in Japan
- Aggregate Demand and Aggregate Supply
- The Aggregate Demand Curve
- AD-AS Equilibrium in the Keynesian Case
- Fiscal Policy and Working Capital
- AD and the Mistaken Expectations Aggregate Supply
- Policy Lags
- Real Business Cycles
- Nominal Anchors and Intertemporal Policy Constraints
- Summray
- Notes
- Test Yourself
- Online Application
- The Aggregate Demand Curve
- More on Unemployment
- Shirking and Efficiency Wages
- The Long-Run and Staggered Wage Setting
- Staggered Wage Contracts.
- Wage Adjustment
- Henry Ford and Efficiency Wages
- The Insider-Outsider Approach
- Macroeconomic Policy with Insiders
- Summary
- Notes
- Test Yourself
- Online Application
- Open Economy I: The Mundell-Fleming Model
- Accounting for an Open Economy
- Capital Mobility and the Balance of Payments
- Capital Account Convertibility
- Monetary Policy under Flexible Exchange Rates
- Fiscal Policy under Flexible Exchange Rates
- Fixed Exchange Rates and the Monetary Policy
- Fixed Exchange Rates and the Fiscal Policy
- Capital Flows and Macro Policy
- The Pressure on China to Float
- Summary
- Notes
- Test Yourself
- Online Applcation
- Slopes of the BPand LM Curves
- Stabilization and Government Deficits
- Limits to Discretionary Policy
- The Government Budget Constraint and Debt Dynamics
- Primary Deficits and Stability
- Fiscal Surpluses
- Primary Surpluses
- Debt and Deficits in India
- Sustainable Primary Deficits
- Fiscal Rules for Adjustment
- Are Fiscal Rules a Good Way to Bind Policymakers?
- Fiscal Restructuring
- Summary
- Notes
- Test Yourself
- Online Application
- Open Economy II: The Current Account in an Intertemporal Framework
- Intertemporal Accounting and the Current Account Determination
- Intertemporal Accounts of a Nation
- Intertemporal Budget Constraint In a Two-Period Model
- Current Account Determination
- Global Imbalances
- Three Determinants of Borrowing/Lending
- Current Account and Shocks to the Output
- The Current Account in the Medium Run
- Determination of Expenditure-Output
- Fiscal Adjustment and the Aggregate Income
- Expansionary Fiscal Contractions
- The External Debt Burden and Sustainability
- Summary
- Notes
- Test Yourself
- Online Application
- Financial Sector Reforms
- Features of Financial Markets
- Adverse Selection
- Moral Hazard.
- Expost State Verification
- Banks and Debt Markets
- Functions of Financial Markets
- Types of Banking Reforms
- Financial Repression and Major Financial Reforms in India
- Financial Repression-Revenues and Liberalization
- The Supply of Loans and the Demand for Deposits
- Risk and the Supply of Credit
- Banks' Response to Financial Liberalization
- Liberalization, Growth, and Collateral Benefits
- Human Capital: A Keystone of Financial Reforms
- Summary
- Notes
- Test Yourself
- Online Application
- Monetary Policy Objectives and Targets
- Goals of Monetary Policy and Intermediate Targets
- Evolution of the Operating Instruments of the Monetary Policy in India
- Choosing Intermediate Targets in the Case of Demand Shocks
- IS Curve Shocks
- LM Curve Shocks
- Choosing Intermediate Targets in the Case of Supply Shocks
- Targeting the Nominal GDP
- Rules Versus Discretion in the Monetary Policy
- The Social Welfare Function of Policymakers
- The Private Sector and Central Bank Policy
- Discretion and Surprise (Unanticipated) Inflation
- Commitment to a Policy Rule
- Achieving Credibility
- Monetary Policy Rules
- Summary
- Notes
- Test Yourself
- Online Application
- N ominal Spending, the Short-Run and the Long-Run Full-Information Supply Curve
- Derivations of the Equations in Section 15.5 on Rules Versus Discretion
- Economic Growth
- Sources of Growth
- Growth Accounting-China and India
- Potential and Feasible Output
- The Determinants of Long-Run Growth
- The Solow Diagram
- Comparative Statics
- The Golden Rule
- Calculating the Golden Rule Saving Rate
- Convergence
- Poverty Traps
- Lawyers-Do They Reduce Economic Growth?
- Endogenous Growth
- Summary
- Notes
- Test Yourself
- Online Application
- Derivations of Important Equations
- Bibliography
- Glossary
- Index.
