MacroeconomicsMIT Press, 1997 - 867 pages Robert Barro's Macroeconomics has become the classic textbook presentation of the equilibrium approach to macroeconomics. In its first four editions, this book has shown undergraduates how market-clearing models with strong microeconomic foundations can be used to understand real-world phenomena and to evaluate alternative macroeconomic policies. Moreover, a single, unified framework works as well for short-term business fluctuation as for long-term economic growth. This latest edition includes the most recent theoretical and empirical developments in economic growth, recent evidence on the macroeconomics of labor markets and public finance, and up-to-date results on the interplay between nominal and real variables. |
Contents
CHAPTER | 1 |
CHAPTER | 2 |
The Components of | 10 |
Labor Input and Productivity | 17 |
Microeconomic Foundations of Macroeconomics | 23 |
A Note on Mathematics and Economic Reasoning | 32 |
Prices | 45 |
Production Technology | 60 |
UNEMPLOYMENT | 351 |
ECONOMIC GROWTH | 389 |
33 | 411 |
PART FOUR GOVERNMENT BEHAVIOR | 433 |
TAXES AND TRANSFERS | 471 |
THE PUBLIC DEBT | 509 |
122 | 518 |
PART FIVE THE INTERNATIONAL ECONOMY | 549 |
Deciding How Much to Work | 70 |
THE BEHAVIOR OF HOUSEHOLDS WITH MARKETS | 91 |
Budget Constraints for Two Periods | 98 |
Preferences for Consuming Now versus Later | 104 |
CHAPTER 6 | 108 |
THE DEMAND FOR MONEY | 133 |
THE BASIC MARKETCLEARING MODEL | 167 |
Labor Supply and Consumption Demand | 213 |
Clearing of the Commodity Market | 219 |
Nominal Wage Rates | 227 |
PART | 235 |
MONEY INFLATION AND INTEREST RATES | 269 |
Interest Rates and the Demand for Money | 275 |
The Dynamics of Inflation | 286 |
Real Effects of Inflation | 294 |
PART THREE BUSINESS FLUCTUATIONS UNEMPLOYMENT | 307 |
EXCHANGE RATES | 595 |
PART | 641 |
CHAPTER 18 | 692 |
CrossCountry Relations between Nominal and Real Variables | 701 |
MONEY AND BUSINESS FLUCTUATIONS IN THE MARKET | 721 |
Disturbances to Local Markets | 728 |
Persisting Effects of Money on Real Variables | 737 |
Implications of the Model for Cyclical Fluctuations | 744 |
THE KEYNESIAN THEORY OF BUSINESS FLUCTUATIONS | 757 |
Summary | 798 |
93 | 809 |
ཆ ྂ 8 8 | 819 |
GLOSSARY | 822 |
836 | |
841 | |
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Common terms and phrases
amount analysis assets assume behavior bonds borrow budget constraint c₁ capital stock CHAPTER commodity market consumption and leisure countries credit market cyclical decline deficit demand for money depreciation dollar economists economy effort equals equation example expected inflation expected real interest expenditures Figure government consumption gross domestic product gross investment Hence higher hold households increase indifference curve inflation rate initial investment demand job separation labor force labor input labor market labor's marginal product MACROECONOMICS MARKET-CLEARING MODEL monetary growth money demanded negative nominal interest rate output period present value price level procyclical product of labor production function quantity of money raises ratio REAL BUSINESS CYCLES real demand real GDP real interest rate real money balances real saving real wage rate rises shows stock of capital substitution effects supply shocks temporary tion transaction costs unemployed unemployment rate United variables wealth effect workers zero