Macroeconomics, Global Edition

• Autore: Abel Andrew
• Pubblicazione: [Place of publication not identified], : Pearson Education Limited, 2013
• Edizione: 8th ed.
• Descrizione fisica: 1 online resource (680 pages)
• Persona (resp. second.): CroushoreDean; BernankeBen
• Note generali: Bibliographic Level Mode of Issuance: Monograph
• Nota di contenuto: Cover -- Detailed Contents -- Preface -- Part 1 Introduction -- Chapter 1 Introduction to Macroeconomics -- 1.1 What Macroeconomics Is About -- Long-Run Economic Growth -- Business Cycles -- Unemployment -- Inflation -- The International Economy -- Macroeconomic Policy -- Aggregation -- 1.2 What Macroeconomists Do -- Macroeconomic Forecasting -- Macroeconomic Analysis -- Macroeconomic Research -- In Touch with Data and Research: Developing and Testing an Economic Theory -- Data Development -- 1.3 Why Macroeconomists Disagree -- Classicals Versus Keynesians -- A Unified Approach to Macroeconomics -- Chapter 2 The Measurement and Structure of the National Economy -- 2.1 National Income Accounting: The Measurement of Production, Income, and Expenditure -- In Touch with Data and Research: The National Income and Product Accounts in Malaysia -- Why the Three Approaches Are Equivalent -- 2.2 Gross Domestic Product -- The Product Approach to Measuring GDP -- In Touch with Data and Research: Natural Resources, the Environment, and the National Income Accounts -- The Expenditure Approach to Measuring GDP -- The Income Approach to Measuring GDP -- 2.3 Saving and Wealth -- Measures of Aggregate Saving -- The Uses of Private Saving -- Relating Saving and Wealth -- 2.4 Real GDP, Price Indexes, and Inflation -- Real GDP -- Price Indexes -- In Touch with Data and Research: The Computer Revolution and Chain-Weighted GDP -- In Touch with Data and Research: CPI Inflation vs. Core Inflation -- APPLICATION T he Federal Reserve's Preferred Inflation Measures -- 2.5 Interest Rates -- Part 2 Long-Run Economic Performance -- Chapter 3 Productivity, Output, and Employment -- 3.1 How Much Does the Economy Produce? The Production Function -- Application The Production Function of the U.S. Economy and U.S. Productivity Growth -- The Shape of the Production Function. ; The Marginal Product of Capital -- The Marginal Product of Labor -- Supply Shocks -- 3.2 The Demand for Labor -- The Marginal Product of Labor and Labor Demand: An Example -- A Change in the Wage -- The Marginal Product of Labor and the Labor Demand Curve -- Factors That Shift the Labor Demand Curve -- Aggregate Labor Demand -- 3.3 The Supply of Labor -- The Income-Leisure Trade-Off -- Real Wages and Labor Supply -- The Labor Supply Curve -- Aggregate Labor Supply -- 3.4 Labor Market Equilibrium -- Full-Employment Output -- Application Output, Employment, and the Real Wage During Oil Price Shocks -- 3.5 Unemployment -- Measuring Unemployment -- In Touch with Data and Research: Labor Market Data in Kazakhstan -- Changes in Employment Status -- How Long Are People Unemployed? -- Application Unemployment Duration and the 2007-2009 Recession -- Why There Always Are Unemployed People -- 3.6 Relating Output and Unemployment: Okun's Law -- Appendix 3.A The Growth Rate Form of Okun's Law -- Chapter 4 Consumption, Saving, and Investment -- 4.1 Consumption and Saving -- The Consumption and Saving Decision of an Individual -- Effect of Changes in Current Income -- Effect of Changes in Expected Future Income -- Application The Idiosyncrasy of Singapore Aggregate Consumption -- Effect of Changes in Wealth -- Effect of Changes in the Real Interest Rate -- Fiscal Policy -- In Touch with Data and Research: Interest Rates -- Application How Consumers Respond to Tax Rebates -- 4.2 Investment -- The Desired Capital Stock -- Changes in the Desired Capital Stock -- Application Measuring the Effects of Taxes on Investment -- From the Desired Capital Stock to Investment -- Investment in Inventories and Housing -- In Touch with Data and Research: Investment and the Stock Market -- 4.3 Goods Market Equilibrium -- The Saving-Investment Diagram. ; Application Macroeconomic Consequences of the Boom and Bust in Stock Prices -- Appendix 4.A A Formal Model of Consumption and Saving -- Chapter 5 Saving and Investment in the Open Economy -- 5.1 Balance of Payments Accounting -- The Current Account -- In Touch with Data and Research: The Balance of Payments Accounts in Malaysia -- The Capital and Financial Account -- The Relationship Between the Current Account and the Capital and Financial Account -- Net Foreign Assets and the Balance of Payments Accounts -- Application The United States as International Debtor -- 5.2 Goods Market Equilibrium in an Open Economy -- 5.3 Saving and Investment in a Small Open Economy -- The Effects of Economic Shocks in a Small Open Economy -- 5.4 Saving and Investment in Large Open Economies -- Application The Impact of Globalization on High-Income Economies -- Application Recent Trends in the U.S. Current Account Deficit -- 5.5 Fiscal Policy and the Current Account -- The Critical Factor: The Response of National Saving -- The Government Budget Deficit and National Saving -- Application The Twin Deficits -- Chapter 6 Long-Run Economic Growth -- 6.1 The Sources of Economic Growth -- Growth Accounting -- Application The Post-1973 Slowdown in Productivity Growth -- Application The Recent Trends in UK Productivity -- 6.2 Long-Run Growth: The Solow Model -- Setup of the Solow Model -- The Fundamental Determinants of Long-Run Living Standards -- Application The Growth of China -- 6.3 Endogenous Growth Theory -- 6.4 Government Policies to Raise Long-Run Living Standards -- Policies to Affect the Saving Rate -- Policies to Raise the Rate of Productivity Growth -- Chapter 7 The Asset Market, Money, and Prices -- 7.1 What Is Money? -- In Touch with Data and Research: Money in a Prisoner-of-War Camp -- The Functions of Money. ; In Touch with Data and Research: The Monetary Aggregates -- In Touch with Data and Research: The Effect of Dollarization on the United States and Foreign Nations -- 7.2 Portfolio Allocation and the Demand for Assets -- Expected Return -- Risk -- Liquidity -- Time to Maturity -- Types of Assets and Their Characteristics -- In Touch with Data and Research: Capital Flows and Property Prices -- Asset Demands -- 7.3 The Demand for Money -- The Price Level -- Real Income -- Interest Rates -- The Money Demand Function -- Other Factors Affecting Money Demand -- Velocity and the Quantity Theory of Money -- 7.4 Asset Market Equilibrium -- Asset Market Equilibrium: An Aggregation Assumption -- The Asset Market Equilibrium Condition -- 7.5 Money Growth and Inflation -- Application Money Growth and Inflation in European Countries in Transition -- The Expected Inflation Rate and the Nominal Interest Rate -- Application Measuring Inflation Expectations -- Part 3 Business Cycles and Macroeconomic Policy -- Chapter 8 Business Cycles -- 8.1 What Is a Business Cycle? -- 8.2 The American Business Cycle: The Historical Record -- The Pre-World War I Period -- The Great Depression and World War II -- Post-World War II U.S. Business Cycles -- The "Long Boom" -- The Great Recession -- Have American Business Cycles Become Less Severe? -- 8.3 Business Cycle Facts -- The Cyclical Behavior of Economic Variables: Direction and Timing -- Production -- Expenditure -- Employment and Unemployment -- Application The Job Finding Rate and the Job Loss Rate -- Average Labor Productivity and the Real Wage -- Money Growth and Inflation -- Financial Variables -- International Aspects of the Business Cycle -- In Touch with Data and Research: Coincident and Leading Indexes -- 8.4 Business Cycle Analysis: A Preview -- In Touch with Data and Research: The Seasonal Cycle and the Business Cycle. ; Aggregate Demand and Aggregate Supply: A Brief Introduction -- Chapter 9 The IS-LM/AD-AS Model: A General Framework for Macroeconomic Analysis -- 9.1 The FE Line: Equilibrium in the Labor Market -- Factors That Shift the FE Line -- 9.2 The IS Curve: Equilibrium in the Goods Market -- Factors That Shift the IS Curve -- 9.3 The LM Curve: Asset Market Equilibrium -- The Interest Rate and the Price of a Nonmonetary Asset -- The Equality of Money Demanded and Money Supplied -- Factors That Shift the LM Curve -- 9.4 General Equilibrium in the Complete IS-LM Model -- Applying the IS-LM Framework: A Temporary Adverse Supply Shock -- Application Oil Price Shocks Revisited -- In Touch with Data and Research: Econometric Models and Macroeconomic Forecasts for Monetary Policy Analysis -- 9.5 Price Adjustment and the Attainment of General Equilibrium -- The Effects of a Monetary Expansion -- Classical Versus Keynesian Versions of the IS-LM Model -- 9.6 Aggregate Demand and Aggregate Supply -- The Aggregate Demand Curve -- The Aggregate Supply Curve -- Equilibrium in the AD-AS Model -- Monetary Neutrality in the AD-AS Model -- Appendix 9.A Worked-Out Numerical Exercise for Solving the IS-LM/AD-AS Model -- Appendix 9.B Algebraic Versions of the IS-LM and AD-AS Models -- Chapter 10 Classical Business Cycle Analysis: Market-Clearing Macroeconomics -- 10.1 Business Cycles in the Classical Model -- The Real Business Cycle Theory -- Application Calibrating the Business Cycle -- 10.2 Fiscal Policy Shocks in the Classical Model -- 10.3 Unemployment in the Classical Model -- Jobless Recoveries -- 10.4 Money in the Classical Model -- Monetary Policy and the Economy -- Monetary Nonneutrality and Reverse Causation -- The Nonneutrality of Money: Additional Evidence -- 10.5 The Misperceptions Theory and the Nonneutrality of Money -- Monetary Policy and the Misperceptions Theory. ; Rational Expectations and the Role of Monetary Policy.
• Sommario/riassunto: Abel, Bernanke, and Croushore present macroeconomic theory in a way that prepares students to analyze real macroeconomic data used by policy makers and researchers. With a balanced treatment of both classical and Keynesian economics, the comprehensive coverage makes it easy for instructors to align chapters to fit their own syllabi. Students in this course often struggle to see how the macroeconomic models compare to one another, and fit into the big picture. This text uses a unified approach based on a single economics model that provides students with a clear understanding of macroeconomics and its classical and Keynesian assumptions. The main objective of the eighth edition is to keep the book fresh and up-to-date, especially in light of the recent crises in the United States and Europe and many new tools used by the Federal Reserve in response to the crisis. To reflect recent events and developments in the field, revisions have been made throughout the text, and additional new applications, boxes, and problems are included. &nbsp.
• Titolo autorizzato: Macroeconomics, Global Edition
• ISBN: 0-273-79235-0
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910151657703321
• Lo trovi qui: Univ. Federico II