Macroeconomic Policy: Demystifying Monetary and Fiscal Policy
Macroeconomic policy is an applications-oriented text designed for individuals who desire a hands-on approach to analyzing the effects of fiscal and monetary policies. MBA and Executive MBA students who appreciate the importance of monetary and fiscal analysis will find this text to be right on target. Financial analysts and individual investors who need to strip away economic myths and jargon and systematically examine and understand the effects of macro policies on variables such as inflation, output, employment and interest rates, will also find the book extremely useful. A unique feature of this book is the extensive use of specially written 'newspaper' articles designed to simulate current macroeconomic news. Each chapter contains exercises that enable the reader to relate specific underlined passages in these articles to the theory presented in preceding chapters. This distinctive approach ensures real-world applicability, and supporting diagrams further enable the reader to relate current economic news to the theoretical material discussed.
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National Income Accounts
The National Savings Identity
Setting the Stage for DemandSide Stabilization
Overheating Hard Landing and Everything in Between
LongTerm Interest Rates the Yield Curve and Hyperinflation
The Engine Room
aggregate demand Article bond financed bond market borrowing budget deficits capital inflows central bank chapter China Classical current account deficits decrease deflator demand-side stabilization developed economies employment endogenous equilibrium European Central Bank Eurozone example exchange rates expectations federal funds rate Federal Reserve final fiscal and monetary GDP growth global capital government spending hyperinflation increase in G increase in government increases in inflation interest rates investor confidence ISLM ISLM–ADAS Keynesian labor demand labor market Langdana loanable funds macro macroeconomic macroeconomic policy monetary discipline monetary growth monetary policy monetization money supply multiplier effect national income nominal wages open market operations output overheating paradigm shift Phillips curve policy makers production function rate of inflation rational expectations real wage recession result Rutgers Business School SAP bubbles sector short-term soft-landing stagflation supply-side tax cuts tax rates vertical workers yield curve