Macroeconomics: Theory and Policy in South Africa
This clear and innovative text, now in its second edition, has been written primarily for students of economics, but is also aimed at all those wishing to understand the macroeconomic policy debate in South Africa.
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The Neoclassical Macro Model
The Simple Keynesian Model
11 other sections not shown
3-sector adjustment aggregate demand assets assumption balance of payments Bank rate bond market boost borrowing budget business cycle capacity utilisation capital account Chapter commercial banks consumption costs countries current account debt deficit depreciation economic growth economists effect equal equation exogenous expected expenditure exports fall finance firms fixed exchange rate flexible framework full employment government spending hence higher idle balances impact imports income inflation rate inflation targeting interest rate investment schedule investors IS-LM model IS-LM-BP model Keynes Keynes's Keynesian model labour market level of output liquidity LM curve lower macroeconomic marginal propensity monetary policy money market money supply money wage multiplier NAIRU neoclassical model nominal exchange rate open economy outward shift Phillips curve price level production function profit share real business cycle real exchange rate real wage reduce repo rate result rise SARB SARB's sector short-term slope South Africa theory workers yield curve