Macroeconomic Essentials - 2nd Edition: Understanding Economics in the News - page 1
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- Media Illustrations
- Appendix 8.1: What Is a Financial Intermediary?
- 9 The Monetarist Rule
- 9.1 The Quantity Theory
- 9.2 The Modem Quantity Theory
- Curiosity 9.1: Does Excess Money Really Affect Spending?
- 9.3 The Monetarist Rule
- Curiosity 9.2: What If Velocity Isn t Constant?
- 9.4 The Rules-versus-Discretion Debate
- Curiosity 9.3: Should the Fed Be Independent?
- Media Illustrations
- 10 Monetary Policy and Interest Rates
- 10.1 A Multitude of Interest Rates
- 10.2 Interest Rates and the Price of Bonds
- Curiosity 10.1: How Is Yield to Maturity Calculated?
- 10.3 Monetary Policy and Interest Rates
- 10.4 The Transmission Mechanism
- 10.5 Monetary Policy versus Fiscal Policy
- Curiosity 10.2: What Are the Discount and Federal Funds Rates?
- Media Illustrations
- Appendix 10.1: All about Bonds
- 11 Real versus Nominal Interest Rates
- 11.1 Expected Inflation
- 11.2 The Real Rate of Interest
- 11.3 The Nominal Rate of Interest
- Curiosity 11.1: What Is the Term Structure of Interest Rates?
- 11.4 Policy Implications
- Curiosity 11.2: Was the Fed Ever Monetarist?
- Media Illustrations
- Appendix 11.1 Eight Applications of Real versus Nominal Interest Rates
- 12 Stagflation
- 12.1 The Phillips Curve
- Curiosity 12.1: What Are New Classicals and New Keynesians?
- 12.2 Policy Implications
- 12.3 Fighting Inflation with Recession
- Curiosity 12.2 Why Did the Natural Rate of Unemployment Fall in the Late 1990s?
- Curiosity 12.3: What Is the Sacrifice Ratio?
- 12.4 Wage-Price Controls
- 12.5 Explaining Stagflation
- Media Illustrations
- 13 The Real Cause of Inflation
- 13.1 Losing Control of the Money Supply
- Curiosity 13.1: What Is Hysteresis?
- Curiosity 13.2: What Is Seigniorage?
- Media Illustrations
- 14 Budget Deficits and the National Debt
- 14.1 Implications of Budget Deficits
- Curiosity 14.1: What Is the Full-Employment Budget?
- 14.2 The Structural Deficit
- 14.3 Burdening Future Generations
- Curiosity 14.2: What Is Generational Accounting?
- Media Illustrations
- 15 The Balance of Payments
- 15.1 The Balance of Payments
- Curiosity 15.1: Where Is the Foreign Exchange Market?
- 15.2 Determinants of Foreign Exchange Market Activity
- 15.3 The International Economic Accounts
- Curiosity 15.2: Why Is There More Than One Exchange Rate?
- Curiosity 15.3: How Do We Know the Statistical Discrepancy?
- 15.4 The Twin Deficits
- Media Illustrations
- Appendix 15.1: The Principle of Comparative Advantage
- 16 Policy in an Open Economy
- 16.1 International Imbalance with a Flexible Exchange Rate
- Curiosity 16.1: What Is the Effective Exchange Rate?
- 16.2 International Imbalance with a Fixed Exchange Rate
- 16.3 Fiscal Policy under Flexible Exchange Rates
- 16.4 Fiscal Policy under Fixed Exchange Rates
- 16.5 Monetary Policy under Flexible Exchange Rates
- 16.6 Monetary Policy under Fixed Exchange Rates
- 16.7 Sterilization Policy
- Curiosity 16.2: What Is the J Curve?
- 16.8 Government Influence on the Exchange Rate
- 16.9 Fixed versus Flexible Exchange Rates
- Media Illustrations
- 17 Purchasing Power Parity
- 17.1 Inflation with a Fixed Exchange Rate
- Curiosity 17.1: What Was the Bretton Woods System?
- 17.2 Inflation with a Flexible Exchange Rate
- Curiosity 17.2: What Is the Real Exchange Rate?
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