+612 9045 4394
$7.95 Delivery per order to Australia and New Zealand
100% Australian owned
Over a hundred thousand in-stock titles ready to ship
Tracking America's Economy - Norman Frumkin

Tracking America's Economy

Hardcover Published: 30th April 2004
ISBN: 9780765612403
Number Of Pages: 368

Share This Book:


RRP $242.00
or 4 easy payments of $43.99 with Learn more
Ships in 20 business days

Earn 352 Qantas Points
on this Book

This completely revised and updated edition of Norman Frumkin's acclaimed work offers vital information for the urgent growing debate on the state of the nation's economy. Frumkin makes complex ideas and statistical data accessible to people without special training in economics. His goal in this book is to provide a better understanding of the performance of the American economy, and a basis for evaluating proposals intended to influence its future course. Using data current through the first half of 2003, Frumkin focuses on the meaning and use of wide array of indicators of economic growth, employment, wages, productivity, investment, saving, and finance in assessing the current state of the U.S. economy and forecasting future developments. Equally useful for economists, students, investors, journalists, and anyone concerned with the economy, this totally revised edition includes detailed coverage of many important new topics, such as terrorism's impact on the economy, federal debt and interest rates, job openings and unemployment, government spending and taxes, the 2001 recession, and more.

Tables and Figures
Attributes of Economic Indicators
Business Cycles:
Determining Business Cycle Phases
Delays in Designating Cyclical Turning Points
Business Cycles and Economic Growth
Changing Characteristics of Business Cycles Since the Nineteenth Century
Extraordinary Events
Index Numbers
Data Accuracy:
Revisions; Sampling Reliability
Calculating and Presenting Growth Rates:
Annualized and Annual Movements
Long-term Growth Rates
Charting Data Graphically
Price-Adjusted Dollars
The Underground Economy
Distinctions Among "Goods," "Services," and "Structures"
The Production of Economic Statistics
Data Integrity:
Executive Branch
Credibility of Economic Data and Economic-Related Data Questioned
Congressional Budget Office
Review Questions
Framework for Macroeconomic Analysis and Policies
Analytic System:
Okun's Law and the NAIRU
Unemployment vs. Inflation: Phillips Curve
Fiscal, Monetary, and Incomes Policies:
Fiscal Policy
Monetary Policy
Interaction of Fiscal Policy and Monetary Policy
Humphrey-Hawkins Act Unemployment and Inflation Goals
Incomes Policies
Review Questions:
Extra Credit
Economic Growth
GDP Methodology:
Meaning of Production
Real GDP and Price Change
Government Budgets
selected Technical Topics
Evaluation of Reliability
Net Exports
Valuation Adjustments for Inventories and Depreciation
Analysis of Trends:
Trends Before and After World War II
Overall Cyclical Movements
Alternative GDP Measures of Economic Growth
Supply Perspective of Economic Growth
Manufacturing and Economic Growth
Assessment of Economic Growth in the First Decade of the 21st Century:
Collapse of the Telecommunications Companies
Nature of the 2001 Recession
Need for American-Made New and Existing Products
Federal Reserve Policies Preceding the 2001 Recession
Terrorist Attacks, Iraq War, and SARS
Supply Perspective of Economic Growth
Federal, State, and Local Finances
An Action Plan:
Reclaiming American Manufacturing
U.S. Support of International Labor Standards
Federal Grants-in-Aid to State and Local Governments
Limit Federal Deficits
Review Questions:
Extra Credit
Household Income, Saving and Expenditures
Personal Income
Household Purchasing Power
Alternative Personal Saving Measures
Financing Personal Outlays
Nonmarket Imputations in Consumer Expenditures
Analysis of Trends:
Shifts in Importance of Consumer Expenditure Components
Volatility of Consumer Durable Goods Spending
Personal Income
Personal Saving
Wealth Effect
Tax Rebate of 2001
Consumer Credit and Debt Consumer Optimism and Pessimism Opinion Surveys
Review Questions:
Extra Credit
Business Profits, Nonresidential Investment, and Housing GDP, Nonresidential Investment, and Business Profits:
Role of Profits
GDP and Profits versus Nonresidential Investment
Capacity Utilization and Nonresidential Investment
Orders for Nondefense Capital Equipment
The Age of Structures and Equipment
Reclaiming American Manufacturing
Cyclical Behavior of Residential Investment
Secondary Spending Impact of Home Purchases
New Housing Demand
Review Questions:
Extra Credit
Budget Aggregates and Components:
Government Expenditures
Government Receipts
Budget Surpluses and Deficits
Government Debt
Expenditure Components
Receipts Components
Prospects for Government Surplus/Deficit Position in the Mid-2000s:
Federal Government
Problem of Non-Payment of Federal Income Taxes
State and Local Governments
Fiscal Policy Initiatives to Stimulate Economic Growth
Taxes and Work Effort
Review Questions:
Extra Credit
The United States in the World Economy
International Transactions Methodology:
Goods and Services
Investment Income
Demand for Exports and Imports
Value of the U.S. Dollar:
Purchasing Power Parity
Actual Value of the Dollar Measures
Globalization of Production:
Domestic Content
Goods, Services, and Income Balances:
Ownership-Based Foreign Trade Data
Investment Position of the United States
Sustainability of Deficits and Debtor Status in the Balance of Payments:
A Definition of Sustainability
Factors Affecting Sustainability
Review Questions:
Extra Credit
Employment, Worker Income, and Employer Costs
Methodology of the Two Employment Surveys
Establishment Survey
Household Survey
Overall Comparison of the Two Surveys
Analysis of Employment Trends:
Monthly Volatility
Jobless Recoveries of 1991-92 and 2002-03
Labor Force Participation Rate and the Employment/Population Ratio
Worker Income:
Union and Nonunion Workers
Employer Costs
Review Questions:
Extra Credit
Unemployment Data
Methodology of Measuring Unemployment:
Determination of Unemployment
Sampling Error
Alternative Measures of Labor Underutilization
Analysis of Trends:
Demographic Changes Affecting the Labor Force and Unemployment
Long-term Population and Labor Force Movements
Effect of Changing Demographics on the UR
Matching the Unemployed with Job Openings
Impact of Cyclical Movements on the Labor Force and Unemployment
Unemployment Goals
Unemployment Insurance:
UI Data on Unemployment
Effect of UI in Moderating Recessions
Review Questions:
Extra Credit
Methodology of Measuring Productivity:
Labor-Hour Productivity: Business Sector
Multifactor Productivity: Business Sector
Note on the Accuracy of Productivity Statistics
Analysis of Trends:
Long-Term Movements
Returns to Scale
The Productivity Rebound
Cyclical Movements
Effect on Productivity of Private Industry Spending to Combat Terrorism
Productivity and Price Change
Review Questions:
Extra Credit
Inflation and Deflation
Price and Wage Expectations
Differences Between Goods and Services Attributes of the CPI
Development of a Cost-of-Living Index
CPI Methodology:
Structure of the CPI
General Attributes of the CPI
Development of a Cost-of-Living Index
Analysis of Trends:
Relative Movements of the C-CPI-U and the CPI-U
Core Price Change
Commodities versus Services
Domestic Price Change and Imports
Concern About Deflation: Common Stock and Housing Asset Prices and the CPI
Deflation and the Economy
Inflation and Capacity Utilization:
Capacity Utilization Methodology
Trends in the Capacity Utilization and Inflation Relationship
Review Questions:
Extra Credit
Implementing Monetary Policies:
Passive Role of the Money Supply
Interest Rates:
Intuitive Theoretical Relationships
Real Interest Rates and Economic Growth
Relationship of the Federal Budget and Federal Debt Positions to Interest Rates
Inflation and Interest Rates
Short-Term Interest Rate and Economic Growth
Yield Curves
The Stock Market:
Stock Market Trends
Implications of the 2000-02 Stock Market Decline
Relationship of the Stock Market to the Economy
Appendix: Federal Reserve Organization and Independence
Review Questions:
Extra Credit
Leading Indicator System
The Process of Cyclical Change:
Duration of Cyclical Expansions and Recessions
Endogenous Nature of the Indicator System
External Shocks
The Primary Role of Profits:
Rationale for the Components of the Three Composite Indexes
Limitation for Forecasting:
Improving the Real-Time Data
Calculation of the Composite Indexes:
Inversion of Unemployment Indicators
Assessments of the Leading Indicator System:
Cyclical Movements
Coincident/Lagging Ratio
False Signals Probability of Future Recessions: Experimental Indexes
Review Questions:
Extra Credit
Noneconomic Intangibles
Review Question
Table of Contents provided by Ingram. All Rights Reserved.

ISBN: 9780765612403
ISBN-10: 0765612402
Audience: Tertiary; University or College
Format: Hardcover
Language: English
Number Of Pages: 368
Published: 30th April 2004
Country of Publication: GB
Dimensions (cm): 23.5 x 16.51  x 3.18
Weight (kg): 0.69
Edition Number: 4
Edition Type: New edition

Earn 352 Qantas Points
on this Book