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020 _a9783031701771
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024 7 _a10.1007/978-3-031-70177-1
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072 7 _aKCB
_2bicssc
072 7 _aBUS039000
_2bisacsh
072 7 _aKCB
_2thema
100 1 _aBarbosa, Fernando de Holanda.
_eauthor.
_4aut
_4http://id.loc.gov/vocabulary/relators/aut
_989562
245 1 0 _aMacroeconomic Theory
_h[electronic resource] :
_bFluctuations, Inflation and Growth in Closed and Open Economies /
_cby Fernando de Holanda Barbosa.
250 _a2nd ed. 2024.
264 1 _aCham :
_bSpringer Nature Switzerland :
_bImprint: Springer,
_c2024.
300 _aXXI, 487 p. 170 illus.
_bonline resource.
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
347 _atext file
_bPDF
_2rda
490 1 _aSpringer Texts in Business and Economics,
_x2192-4341
505 0 _a -- INTRODUCTION. -- PART I: GROWTH. -- Chapter 1: Representative Agent Model. -- Chapter 2: Open Economy Representative Agent Model. -- Chapter 3: Overlapping Generations. -- Chapter 4: Solow Model. -- Chapter 5: Endogenous Savings and Growth. -- PART II: FLUCTUATION AND INFLATION. -- Chapter 6: Keynesian Models: IS and LM Curves, The Taylor Rule, and the Phillips Curve. -- Chapter 7: Fluctuation, Inflation and Stabilization. -- Chapter 8: Open Economy Macroeconomics. -- Chapter 9: Open Economy Fluctuation, Inflation and Stabilization. -- PART III: MONETARY AND FISCAL POLICIES. -- Chapter 10: Government Budget Constraint. -- Chapter 11: Monetary Theory and Policy. -- PART IV: MATHEMATICAL APPENDIX. -- Appendix A: Differential Equations. -- Appendix B: Optimal Control Theory. -- Appendix C: Finite Difference Equations.
520 _aMacroeconomics is the application of economic theory to the study of the economy’s growth, cycle and price-level determination. Macroeconomics takes account of stylized facts observed in the real world and builds theoretical frameworks to explain such facts. Economic growth is a stylized fact of market economies, since England’s nineteenth-century industrial revolution. Until then, poverty was a common good for humanity. Economic growth consists in the persistent, smooth and sustained increase of per-capita income. A market economy shows periods of expanding and contracting economic activity.This phenomenon is the economic cycle. The price of money is the amount of goods bought with one unit of money, in other words, the inverse of the price level. Determination of the price level, or the value of money, is a fascinating subject in a fiat money economy. The most important change in the second edition is Chapter 7, which presents six models of fluctuation, three from the Keynesian agenda and three from the Lucas agenda. The models of Lucas agenda have micro foundations but do not square with the facts. The models of the Keynesian agenda are consistent with data but do not endure Lucas’s critique. This chapter sketches a model that can solve this puzzle. There are also changes in the rest of the book: social security (Ch. 3); a Malthusian model (Ch. 4); increasing returns in growth models (Ch. 5); a natural rate of unemployment model ( Ch. 6); natural rates, for interest rate and exchange rate, in a small open economy (ch.8); tax smoothing model (Ch.10) and optimal monetary rules for the Keynesian and new Keynesian models (Ch. 11).
650 0 _aMacroeconomics.
650 0 _aEconomic policy.
_958351
650 0 _aEconomic development.
_958075
650 0 _aEconomics.
_958354
650 1 4 _aMacroeconomics and Monetary Economics.
_969508
650 2 4 _aEconomic Policy.
_958351
650 2 4 _aEconomic Growth.
_958347
650 2 4 _aPolitical Economy and Economic Systems.
_970994
710 2 _aSpringerLink (Online service)
773 0 _tSpringer Nature eBook
776 0 8 _iPrinted edition:
_z9783031701764
776 0 8 _iPrinted edition:
_z9783031701788
830 0 _aSpringer Texts in Business and Economics,
_x2192-4341
_969742
856 4 0 _uhttps://doi.org/10.1007/978-3-031-70177-1
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912 _aZDB-2-SXEF
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