Macroeconomics: Policy and Practice (Pearson Series in by Frederic S. Mishkin

By Frederic S. Mishkin

Construction on his services in macroeconomic policymaking on the Federal Reserve, Mishkin’s Macroeconomics: coverage and perform offers a theoretical framework that illustrates the most up-tp-date and appropriate coverage debates within the box.

Show description

Read or Download Macroeconomics: Policy and Practice (Pearson Series in Economics) PDF

Best macroeconomics books

Studies in the Economics of Transportation

There are detailed complexities linked to the industrial valuation of clever Transportation structures (ITS) and telematics. conventional equipment of quantitative research is probably not acceptable in adequately and reliably assessing the commercial affects of those applied sciences. even if complex transportation and comparable applied sciences are being deliberate and deployed at an more and more speedy velocity, the various applied sciences are nonetheless rather new, and their use will not be frequent.

Principles of Financial Economics

This e-book introduces graduate scholars in economics to the subfield of economic economics. It stresses the hyperlink among monetary economics and equilibrium idea, devoting much less recognition to merely monetary issues equivalent to valuation of derivatives. on account that scholars frequently locate this hyperlink difficult to know, the therapy goals to make the relationship specific and transparent in each one level of the exposition.

Extra resources for Macroeconomics: Policy and Practice (Pearson Series in Economics)

Sample text

597 WHERE MACROECONOMISTS DISAGREE . . . . . . . . . . . . . . . . . 597 Flexibility of Wages and Prices . . . . . . . . . . . . . . . . . . . . . . 597 How Much Time It Takes to Get to the Long Run . . . . . . . . . . . . . . 597 Sources of Business Cycle Fluctuations . . . . . . . . . . . . . . . . . . 598 Effectiveness of Stabilization Policy . . . . . . . . . . . . . . .

1 1We will explore the microeconomic foundations of macroeconomics in Chapters 18 to 20 of this book. 3 4 PART ONE • INTRODUCTION The Process: Developing Macroeconomic Models Macroeconomists try to explain how the overall economy works by using an economic theory, a logical framework to explain a particular economic phenomenon. Economic theory involves developing an economic model, a simplified representation of the economic phenomenon that takes a mathematical or graphical form. The development of an economic theory or model typically involves five steps: 1.

576 How Do the Models Differ? . . . . . . . . . . . . . . . . . . . . . . 576 Short-Run Output and Price Responses: Implications for Stabilization Policy . . 578 POLICY AND PRACTICE: Management of Expectations and Nonconventional Monetary Policy . . . . . . . . . . . . . . . . . . . . 581 Anti-Inflation Policy . . . . . . . . . . . . . . . . . . . . . . . . . . 582 BUSINESS CYCLE MODELS WITH FINANCIAL FRICTIONS .

Download PDF sample

Rated 4.90 of 5 – based on 50 votes