Macroeconomics, Third Edition (eBook)

David G. Tuerck (Autor)

eBook Download: EPUB

2021 | 3. Auflage
288 Seiten
Business Expert Press (Verlag)
978-1-953349-25-5 (ISBN)

Infos

This book brings these theories together under one methodological roof, where the choices made by economic agents depend on their varying perceptions of the economic constraints they face, combining new classical principles, under which the economy operates at full employment, with theories that allow for extended periods of underemployment brought about by mixed signals from workers and employers.The task of macroeconomics is to provide the tools for understanding the performance of the aggregate economy, as measured by production, employment, inflation, and other economic indicators. Most books on this topic compare different theories of macroeconomic performance, under alternative assumptions about how individual consumers, workers and investors adjust to the economic environment in which they find themselves.This book brings these theories together under one methodological roof, where the choices made by economic agents depend on their varying perceptions of the economic constraints they face, combining new classical principles, under which the economy operates at full employment, with theories that allow for extended periods of underemployment brought about by mixed signals from workers and employers. The book takes up modern monetary theory and its bearing on the massive deficits run up the federal government over the ongoing 'corona contraction' and the earlier 'great contraction'. The author also reviews the policy interventions undertaken by the federal government during these contractions, with a view toward assessing their effectiveness.

Produkt-Details

• Erscheint lt. Verlag: 1.2.2021
• Reihe/Serie: ISSN
• Sprache: englisch
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
• Schlagworte: aggregate demand • aggregate supply • Classical tradition • excess demand • excess supply • Full employment • income and substitution effects of tax rate changes • individual equilibrium • intertemporal elasticity of substitution • INUS explanations for macroeconomic activity • Keynesian model • Laffer Curve • Modern Monetary Theory • Monetary And Fiscal Policy • National Income and Product Accounts • natural unemployment rate • nonaccelerating inflation rate of labor-force participation • nonaccelerating inflation rate of unemployment • permanent income hypothesis • Phillips Curve • potential GDP • replacement rate • self-reliance rate • steady state of economic growth • structural unemployment • supply-side economics • suppressed inflation • Total Factor Productivity
• ISBN-10: 1-953349-25-0 / 1953349250
• ISBN-13: 978-1-953349-25-5 / 9781953349255