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Macroeconomics, second edition

An Integrated Approach

By: Alan J. Auerbach

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Paperback | 31 July 1998 | Edition Number 2

At a Glance

Paperback
500 Pages

Edition Type
Revised

Age
18+

Dimensions(cm)
22.7 x 20.5 x 3.0

Paperback

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This paperback edition is not available in the U.S. and Canada. Many undergraduate texts treat macroeconomics as a set of distinct topics rather than as a unified body of theory and empirical findings. In contrast, this text by Alan Auerbach and Laurence Kotlikoff uses a single analytic framework--the two-period life-cycle model--to explore and connect each of the major issues in contemporary macroeconomics. The model describes the evolution of the economy over time in terms of the behavior of overlapping generations of individuals, each of whom lives for two periods: youth and old age. This versatile framework can encompass most macroeconomic schools of thought through the alteration of key assumptions. The use of one basic model also allows the authors to explore important topics not always addressed adequately in other texts; these include credit constraints, real business cycles, generational accounting, and international capital flows markets.Written in a clear, accessible style, this shortened and simplified second edition provides a systematic way to interpret macroeconomic outcomes, to understand various policy proposals, and to appreciate how individuals and firms fit into the big picture.Not for sale in U.S. and Canada

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List of Figures
List of Tables
Prologue: The Questions of Macroeconomics
From Micro to Macro: Modeling Income Determination and Growth	p. 1
Output, Inputs, and Growth	p. 3
The Dynamic Supply of Inputs	p. 29
The Dynamic Demand for Inputs and the Evolution of Output	p. 53
Economic Fluctuations	p. 85
The Measurement of Output and Prices	p. 111
Fiscal and Monetary Policy	p. 139
Fiscal Policy, Saving, and Growth	p. 141
Money and Prices in the Closed Economy	p. 169
Economic Fluctuations	p. 199
The Keynesian Model of Price and Wage Rigidity	p. 201
Understanding Recessions	p. 229
The Nature and Costs of Unemployment	p. 265
Countercyclical Policy	p. 295
The International Economy	p. 321
Saving and Growth in the International Economy	p. 323
Money, Exchange Rates, and Policy in the Open Economy	p. 347
Enriching the Model	p. 377
The Banking System, the Federal Reserve, and the Money Supply	p. 379
Saving Behavior and Credit Markets	p. 411
Financial Markets and the Investment Decision	p. 433
Index	p. 457
Table of Contents provided by Blackwell. All Rights Reserved.

Macroeconomics, second edition

An Integrated Approach

At a Glance

Paperback

Shipping

How to return your order

Defective items

You Can Find This Book In

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