Macroeconomics

Front Cover

Robert Barro's Macroeconomics has become the classic textbook presentation of the equilibrium approach to macroeconomics. In its first four editions, this book has shown undergraduates how market-clearing models with strong microeconomic foundations can be used to understand real-world phenomena and to evaluate alternative macroeconomic policies. Moreover, a single, unified framework works as well for short-term business fluctuation as for long-term economic growth. This latest edition includes the most recent theoretical and empirical developments in economic growth, recent evidence on the macroeconomics of labor markets and public finance, and up-to-date results on the interplay between nominal and real variables.

 

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Contents

THE APPROACH TO MACROECONOMICS
1
PART ONE MICROECONOMIC FOUNDATIONS AND THE BASIC
57
Tastes for Consumption and Leisure
64
Deciding How Much to Work
70
Substitution Effects for Work versus Consumption
77
Summary
83
THE BEHAVIOR OF HOUSEHOLDS WITH MARKETS
91
Budget Constraints for Two Periods
98
ECONOMIC GROWTH
389
PART FOUR GOVERNMENT BEHAVIOR
433
TAXES AND TRANSFERS
471
THE PUBLIC DEBT
509
PART FIVE THE INTERNATIONAL ECONOMY
549
EXCHANGE RATES
595
PART SIX INTERACTIONS BETWEEN THE MONETARY SECTOR
641
THE INTERPLAY BETWEEN NOMINAL AND REAL
691

Preferences for Consuming Now versus Later
104
THE DEMAND FOR MONEY
133
THE BASIC MARKETCLEARING MODEL
167
THE LABOR MARKET
207
PART TWO INFLATION
235
MONEY INFLATION AND INTEREST RATES
269
Interest Rates and the Demand for Money
275
The Dynamics of Inflation
286
Real Effects of Inflation
294
PARI THREE BUSINESS FLUCTUATIONS UNEMPLOYMENT
307
UNEMPLOYMENT
351
CrossCountry Relations between Nominal and Real Variables
701
MONEY AND BUSINESS FLUCTUATIONS IN THE MARKET
721
Disturbances to Local Markets
728
Persisting Effects of Money on Real Variables
737
Implications of the Model for Cyclical Fluctuations
744
THE KEYNESIAN THEORY OF BUSINESS FLUCTUATIONS
757
Summary
798
GLOSSARY
822
AUTHOR INDEX
836
Copyright

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About the author (1997)

Robert J. Barro is Robert C. Waggoner Professor of Economics at Harvard University and a senior fellow of the Hoover Institution at Stanford University.

Robert J. Barro is Robert C. Waggoner Professor of Economics at Harvard University and a senior fellow of the Hoover Institution at Stanford University.

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