MacroeconomicsThis book conveys the excitement of macroeconomics, covering many of the main macroeconomic issues of the day issues often missing from other texts. Its example-rich approach provides a strong emphasis on the role of expectations, the openness of modern economics, and the role of dynamics. |
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Page 108
... LM curve A FIGURE 6-5 The Derivation of the LM Curve Y Y ' Income , Y ( b ) Equilibrium in financial markets implies that the interest rate is an increasing function of the level of income . The LM curve is upward sloping . is equal to ...
... LM curve A FIGURE 6-5 The Derivation of the LM Curve Y Y ' Income , Y ( b ) Equilibrium in financial markets implies that the interest rate is an increasing function of the level of income . The LM curve is upward sloping . is equal to ...
Page 109
Olivier J. Blanchard. Interest rate , i Income , Y Y LM LM ' [ for ( MP ) > ( MP ) ] FIGURE 6-6 Shifts in the LM Curve An increase in money leads the LM curve to shift down . Let's summarize what we have learned in this section ...
Olivier J. Blanchard. Interest rate , i Income , Y Y LM LM ' [ for ( MP ) > ( MP ) ] FIGURE 6-6 Shifts in the LM Curve An increase in money leads the LM curve to shift down . Let's summarize what we have learned in this section ...
Page 112
... curve . Let's draw , in Figure 6-8 ( a ) , the IS curve corresponding to equilibrium in the goods mar- ket before ... LM curve . Figure 6-8 ( b ) draws the LM curve corresponding to financial - markets equilibrium before the increase in ...
... curve . Let's draw , in Figure 6-8 ( a ) , the IS curve corresponding to equilibrium in the goods mar- ket before ... LM curve . Figure 6-8 ( b ) draws the LM curve corresponding to financial - markets equilibrium before the increase in ...
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Common terms and phrases
assumption average billion bonds budget deficit c₁ central bank Chapter checkable deposits consumers consumption countries crease decrease deficit reduction demand for money devaluation disposable income dollar domestic economists economy effects equation equilibrium example expected future expected inflation exports Figure financial markets firms fixed exchange rates foreign GDP deflator German given GLOBAL MACRO government spending growth rate higher implies increase in output inflation rate investment IS-LM model labor level of output LM curve look lower macroeconomic macroeconomists ment monetary policy money growth money supply natural level natural rate nominal interest rate nominal money OECD one-year output growth output per capita output per worker payments percent Phillips curve present value price level production profit quarter ratio real exchange rate real GDP real interest rate real money recession saving rate shift stock prices Suppose taxes technological progress tion trade balance trade deficit unemployed unemployment rate United variables
References to this book
The Case for Joint Management of Exchange Rate Flexibility C. Fred Bergsten No preview available - 1999 |