9.5 The New Keynesian Phillips Curve The inflation equation is a key relation in models of inflation and monetarypolicy analysis. In Keynesian models inflation is determined from the Phillips curve, an ad hoc relation between inflation ...
14.4 Fixed versus flexible regimes The properties of the IS-LM model under perfect capital mobility were first explored by Robert Mundell (1963) and J. Marcus Fleming (1962) working independently in the 1960s.
In the next period , the Phillips curve must shift upward , as workers adjust their expectations to conform to their ... will remain at its original level ( the old long - run equilibrium inflation rate ) TT D TL = 6 С TT 2 B 71 10.7 .
In this edition, he also examines issues raised by the most recent financial crisis, and two new chapters explore banks, financial intermediation, and unconventional monetary policy, as well as modern theories of unemployment.
Macroeconomic Theory: A Survey
Macroeconomics is the application of economic theory to the study of the economy’s growth, cycle and price-level determination.
For students at the intermediate and advanced undergraduate level.
Macroeconomic Theory: A Textbook on Macroeconomic Knowledge and Analysis
To make the book self contained, a mathematical appendix gives a number of simple technical results that are sufficient to follow the formal developments of the book.
Macroeconomic Theory, in its first edition, was widely adopted for use as a graduate text; this updated and expanded version should find even greater popularity as a text and as...
This book comprehensively explains the broad aggregates and their interactions such as national income and output, the unemployment rate, and price inflation, and sub-aggregates like total consumption and investment spending, and their ...
Macroeconomic Theory
Macroeconomic Theory: Statics, Dynamics, and Policy
A Textbook on Macroeconomic Knowledge and Analysis.