Inflation, employment and business fluctuations [electronic resource] / Edmond Malinvaud.

Malinvaud, Edmond.
Standardized Title:
Théorie macroéconomique. English
New York ; Oxford : Oxford University Press, 2011.
Advanced textbooks in economics ; v. 35.
Advanced textbooks in economics ; v. 35
Macroeconomic theory: a textbook on macroeconomic knowledge and analysis ; C
1 online resource (746 p.)
Inflation (Finance).
Business cycles.
Electronic books.
A Textbook on Macroeconomic Knowledge and Analysis
Front Cover; INFLATION, EMPLOYMENT AND BUSINESS FLUCTUATIONS; Copyright Page; Contents; VOLUME C: INFLATION, EMPLOYMENT AND BUSINESS FLUCTUATIONS; Introduction to the series; Preface; Introduction; Chapter 8. The Dynamics of Inflation and Employment; Part 1: Inflation as a Process; 1.1 Costs, prices and wages: the spiral; 1.2 Cost-push inflation and demand-pull inflation; 1.3 Money and inflation; 1.4 Simple formulas for price expectations; 1.5 Rational expectations; 1.6 Empirical knowledge about the formation of expectations; 1.7 Interest rates during inflation; 1.8 Asset prices
1.9 The costs of inflation Part 2: Pressure of Demand and Inflation; 2.1 Short-run adjustments; 2.2 The dilemma: stagnation or inflation; 2.3 A first look at empirical confirmation; 2.4 The formation of demand; Part 3: About a Fictitious Direct Control of Inflation and the Credibility of Policies; 3.1 A simple framework; 3.2 An optimal fixed rule; 3.3 A Nash solution; 3.4 Time inconsistency; 3.5 Commitment, simple rules or discretion; 3.6 About the institutions of economic policy; 3.7 Government's reputation; 3.8 At the frontier between macroeconomics and political economy
Part 4: The Aggregate Demand Approach to Dynamic Macroeconomic Policies 4.1 Control of the interest rate with adaptive expectations; 4.2 Control of the money supply with adaptive expectations; 4.3 Monetary policy with alternative hypotheses on expectations; 4.4 Instrument rules and target rules; 4.5 About monetary policy rules followed during the 1980's; Part 5: About the Effectiveness of Monetary Policy; 5.1 The old monetarist position; 5.2 A market-clearing theory; 5.3 Effectiveness of anticipated money growth; 5.4 The empirical approach: preliminaries; 5.5 Introduction to the VARs
5.6 The empirical approach: some results 5.7 The empirical approach: a discussion; Part 6: Wages, Prices and Unemployment; 6.1 Background, objectives and framework; 6.2 Modulization; 6.3 The NAIRU, the natural rate of unemployment and a few other familiar concepts; 6.4 Econometrics of the price equation; 6.5 Econometrics of the wage equation; 6.6 Econometrics of the NAIRU; 6.7 About the dynamics of unemployment; Part 7: More on Policies and Diagnosis; 7.1 Price adjustments and the formation of demand: a reconsideration; 7.2 Aggregate demand management; 7.3 Prices and incomes policies
7.4 The empirical analysis of macroeconomic time series 7.5 To which shocks are economies commonly exposed? Answers from the VARs; 7.6 The relative importance of real and monetary shocks for the choice of a monetary policy rule; 7.7 A compendium of stability issues; Part 8: Microeconomic Foundations of Macroeconomic Adjustment Laws; 8.1 Facing markets and competition; 8.2 Coping with adjustment costs; 8.3 Interpreting information; 8.4 Searching before transacting; 8.5 Long-term contracts; 8.6 Social norms and social institutions; 8.7 Aggregation of adjustment laws
8.8 Aggregation of linear dynamic equations
"Adaptation and revision of Théorie macroéconomique ... translated into English by Fenella Kirman".
Includes bibliographical references and index.
Description based on print version record.
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