Macroeconomics (Fourth Edition)

Cover (Macroeconomics)
Front Matter
Title Page
Dedication
Copyright
Brief Contents
Contents
Preface to the Fourth Edition
Acknowledgments
About the Author
Part 1- Preliminaries
Chapter 1 - Introduction to Macroeconomics
1.1 - What Is Macroeconomics?
1.2 - How Macroeconomics Studies Key Questions
1.3 - An Overview of the Book
Chapter 2 - Measuring the Macroeconomy
2.1 - Introduction
2.2 - Measuring the State of the Economy
2.3 - Measuring Changes over Time
2.4 - Comparing Economic Performance across Countries
Part 2 - The Long Run
Chapter 3 - An Overview of Long Run Economic Growth
3.1 - Introduction
3.2 - Growth over the Very Long Run
3.3 - Modern Economic Growth
3.4 - Modern Growth around the World
3.5 - Some Useful Properties of Growth Rates
3.6 - The Costs of Economic Growth
3.7 - A Long Run Roadmap
3.8 - Additional Resources
Chapter 4 - A Model of Production
4.1 - Introduction
4.2 - A Model of Production
4.3 - Analyzing the Production Model
4.4 - Understanding TFP Differences
4.5 - Evaluating the Production Model
Chapter 5 - The Solow Growth Model
5.1 - Introduction
5.2 - Setting Up the Model
5.3 - Prices and the Real Interest Rate
5.4 - Solving the Solow Model
5.5 - Looking at Data through the Lens of the Solow Model
5.6 - Understanding the Steady State
5.7 - Economic Growth in the Solow Model
5.8 - Some Economic Experiments
5.9 - The Principle of Transition Dynamics
5.10 - Strengths and Weaknesses of the Solow Model
Chapter 6 - Growth and Ideas
6.1 - Introduction
6.2 - The Economics of Ideas
6.3 - The Romer Model
6.4 - Combining Solow and Romer: Overview
6.5 - Growth Accounting
6.6 - Concluding Our Study of Long-Run Growth
6.7 - Postscript on Solow and Romer
6.8 - Additional Resources
6.9 - Appendix: Combining Solow and Romer (Algebraically)
Chapter 7 - The Labor Market, Wages, and Unemployment
7.1 - Introduction
7.2 - The U.S. Labor Market
7.3 - Supply and Demand
7.4 - The Bathtub Model of Unemployment
7.5 - Labor Markets around the World
7.6 - How Much Is Your Human Capital Worth?
7.7 - The Rising Return to Education
Chapter 8 - Inflation
8.1 - Introduction
8.2 - The Quantity Theory of Money
8.3 - Real and Nominal Interest Rates
8.4 - Costs of Inflation
8.5 - The Fiscal Causes of High Inflation
8.6 - The Great Inflation of the 1970s
Part 3 - The Short Run
Chapter 9 - An Introduction to the Short Run
9.1 - Introduction
9.2 - The Long Run, the Short Run, and Shocks
9.3 - The Short Run Model
9.4 - Okun’s Law: Output and Unemployment
9.5 - Filling in the Details
Chapter 10 - The Great Recession: A First Look
10.1 - Introduction
10.2 - Recent Shocks to the Macroeconomy
10.3 - Macroeconomic Outcomes
10.4 - Some Fundamentals of Financial Economics
10.5 - Going Forward
Chapter 11 - The IS Curve
11.1 - Introduction
11.2 - Setting Up the Economy
11.3 - Deriving the IS Curve
11.4 - Using the IS Curve
11.5 - Microfoundations of the IS Curve
11.6 Conclusion
Chapter 12 - Monetary Policy and the Phillips Curve
12.1 - Introduction
12.2 - The MP Curve: Monetary Policy and Interest Rates
12.3 - The Phillips Curve
12.4 - Using the Short Run Model
12.5 - Microfoundations: Understanding Sticky Inflation
12.6 - Microfoundations: How Central Banks Control Nominal Interest Rates
12.7 - Inside the Federal Reserve
12.8 - Conclusion
Chapter 13 - Stabilization Policy and the AS/AD Framework
13.1 - Introduction
13.2 - Monetary Policy Rules and Aggregate Demand
13.3 - The Aggregate Supply Curve
13.4 - The AS/AD Framework
13.5 - Macroeconomic Events in the AS/AD Framework
13.6 - Empirical Evidence
13.7 - Modern Monetary Policy
13.8 - Conclusion
Chapter 14 - The Great Recession and the Shortrun Model
14.1 - Introduction
14.2 - Financial Considerations in the Short-Run Model
14.3 - Policy Responses to the Financial Crisis
14.4 - The Aftermath of the Great Recession
14.5 - Conclusion
Chapter 15 - DSGE Models: The Frontier of Business Cycle Research
15.1 - Introduction
15.2 - A Brief History of DSGE Models
15.3 - A Stylized Approach to DSGE
15.4 - Using the Stylized DSGE Model
15.5 - Quantitative DSGE Models
15.6 - Conclusion
15.7 - Appendix: Deriving the Labor Supply Curve
Part 4 - Applications and Microfoundations
Chapter 16 - Consumption
16.1 - Introduction
16.2 - The Neoclassical Consumption Model
16.3 - Lessons from the Neoclassical Model
16.4 - Empirical Evidence on Consumption
Chapter 17 - Investment
17.1 - Introduction
17.2 - How Do Firms Make Investment Decisions?
17.3 - The Stock Market and Financial Investment
17.4 - Components of Private Investment
Chapter 18 - The Government and the Macroeconomy
18.1 - Introduction
18.2 - U.S. Government Spending and Revenue
18.3 - International Evidence on Spending and Debt
18.4 - The Government Budget Constraint
18.5 - How Much Can the Government Borrow?
18.6 - The Fiscal Problem of the Twenty-First Century
18.7 - Conclusion
Chapter 19 - International Trade
19.1 - Introduction
19.2 - Some Basic Facts About Trade
19.3 - A Basic Reason for Trade
19.4 - Trade across Time
19.5 - Trade with Production
19.6 - Trade in Inputs
19.7 - The Costs of Trade
19.8 - The Trade Deficit and Foreign Debt
19.9 - Conclusion
Chapter 20 - Exchange Rates and International Finance
20.1 - Introduction
20.2 - Exchange Rates in the Long Run
20.3 - Exchange Rates in the Short Run
20.4 - Fixed Exchange Rates
20.5 - The Open Economy in the Short-Run Model
20.6 - Exchange Rate Regimes
20.7 - The Policy Trilemma
20.8 - The Euro Crisis
Chapter 21 - Parting Thoughts
21.1 - What We’ve Learned
21.2 - Significant Remaining Questions
21.3 - Conclusion