Macroeconomic Theory and Policy
This widely respected classic text is designed for upper-level and graduate courses. Detailed and clear exposition of such topics as traditional expectations, money demand, and policy rules are integrated into the text's readily accessible and popular format.
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Equilibrium Income and the Interest Rate in the Money Market
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accounts actual adjustment aggregate supply amount analysis assets assume assumption average balances banks begin bonds budget Chapter classical clear constant constraint consumer consumption contracts cost deficit demand curve demand for money depends derived determined developed discussion drop economy effect employment equal equation equilibrium example excess demand exchange exogenous expectations expenditure expression falls firm fiscal policy fixed foreign function future given gives hold important income increase inflation initial interest interest rate investment investment demand labor market less LM curve measured money market money supply move movements multiplier obtain output percent period permanent positive present price increase price level purchases raises rational reduce relationship relative represents reserves result rigidity rise saving shift shown in Figure shows side slope static supply curve term theory transactions variables wage workers zero