Download Macroeconomic theory: a textbook on macroeconomic knowledge by Unknown Author PDF

By Unknown Author

A Textbook on Macroeconomic wisdom and research

Show description

Read or Download Macroeconomic theory: a textbook on macroeconomic knowledge and analysis PDF

Similar macroeconomics books

Macroeconomics: A European Perspective

Macroeconomics: a ecu point of view will provide scholars a fuller realizing of the topic and has been totally up-to-date to supply huge insurance of the monetary quandary. particularly, this new version presents: NEW chapters and up-to-date textual content throughout all chapters NEW information on Europe and the monetary quandary And what has continuously been the power of the publication: A unified view of macroeconomics, permitting scholars to make the connections among the quick, medium, and long term.

The New Fiscal Sociology: Taxation in Comparative and Historical Perspective

The hot economic Sociology: Taxation in Comparative and ancient point of view demonstrates that the research of taxation can light up basic dynamics of contemporary societies. The 16 essays during this assortment provide a cutting-edge survey of the recent financial sociology that's rising on the intersection of sociology, heritage, political technology, and legislations.

The Keynesian Multiplier (Routledge Frontiers of Political Economy)

The multiplier is a principal thought in Keynesian and post-Keynesian economics.  it really is principally what justifies activist full-employment financial coverage: a rise in monetary expenses contributing to a number of rounds of spending, thereby financing itself.  but, whereas a copingstone of post-Keynesian conception, it isn't universally approved by means of all post-Keynesians, for purposes tremendously diverse than the mainstream.

Models of Business Cycles

Some time past decade macroeconomic idea has gone through a notable transformation. on the vanguard has been the "rational expectancies revolution," and this school's such a lot wonderful exponent is Robert E. Lucas. during this based and comparatively non-technical survey, Lucas experiences the character and results of modern advancements in financial and company cycle conception.

Extra info for Macroeconomic theory: a textbook on macroeconomic knowledge and analysis

Sample text

Usually, the price of the good or service is fixed in practice for a certain length of time. The decision to change it is normally made by the producer or the seller, sometimes by public authorities. It is therefore useful to understand the motives for changes in prices, and the factors which determine amounts of those changes. The usual reason put forward to justify a rise in prices and to explain the exact amount stems from an increase in costs: the manufacturing and transportation costs for a producer, the purchase price and the cost of distribution for the seller.

It is true that if, from some time on, the growth rate of the money supply is sharply lowered and then maintained constant for a long period, the growth rate of the value of production must in the long run fall and approach a value close to that of the money supply. But this does not imply that the initial proportion between the money supply and the price level is then re-established. In the notation of Chapter 5, Part 6, this proportion was denoted by μ. Now, not only does the liquidity ratio μ change with the rate of inflation, but output can be significantly affected by economic developments in the intermediate period and by the final changes in variables such as the real interest rate and the rate of taxation1 .

Neglecting the temporal dimension of economic phenomena, it ignores important aspects of reality: past evolution matters, not only because of assets and liabilities accumulated by households and firms, but also because of the trends in changes experienced by various magnitudes, trends to which behaviour have adapted; expectations may depend on how current equalization between supplies and demands is being brought about; shortterm macroeconomic policy will have effects spreading over several quarters of year and even years, beyond the intended horizon.

Download PDF sample

Rated 4.10 of 5 – based on 35 votes