Macroeconomic Analysis and Stabilization Policy

The main focus of this book is the construction and analysis of an integrated macroeconomic model.

Stephen J. Turnovsky (Author)

9780521291873, Cambridge University Press

Paperback, published 4 August 1977

408 pages
22.9 x 15.2 x 2.3 cm, 0.6 kg

The main focus of this book, first published in 1977, is the construction and analysis of an integrated macroeconomic model. In this exercise, four main aspects are stressed that has not previously received adequate textbook attention. The 'intrinsic dynamics' of the macroeconomic system are emphasized, as well as developments in inflation theory, particularly pertaining to the role of inflationary expectations. In addition, several chapters are devoted to the international aspects of macroeconomics, and their thorough coverage makes this book especially relevant to countries that are heavily dependant on international trade. Several aspects of stabilization policy are also discussed in detail, and an introduction to optimal stabilization theory is also provided. The book is appropriate to advanced undergraduate and postgraduate courses in macroeconomics.

Preface
1. introduction and overview
Part I. The Closed Economy: 2. Review of basic macroeconomic model
3. The formulation of a consistent macroeconomic model
4. the dynamics of the government budget constraint
5. The wage-price sector
6. A short-run integrated macroeconomic model
7. An intermediate ruin macroeconomic model
8. A long run model
Part III. The Open Economy: 9. Review of static macroeconomic models of a small open economy
10. Imported inflation and government policies in a short-run open macroeconomic model
11. The dynamics of an open economy with fixed exchange rate and fixed prices
12. Imported inflation and government policies in a dynamic open macroeconomic model
Part III. Stabilization Policies: 13. An introduction to stabilization theory and policy
14. Optimal stabilization theory
Notes
References
Index.

Subject Areas: Economics [KC]