Macroeconomic Analysis and Stabilization Policy [Paperback]

The main focus of this book is the construction and analysis of an integrated macroeconomic model.The main focus of this book, first published in 1977, is the construction and analysis of an integrated macroeconomic model. In this exercise, four main aspects are stressed that has not previously received adequate textbook attention: intrinsic dynamics of the macroeconomic system; inflation theory; international macroeconomics; and stabilization policy.The main focus of this book, first published in 1977, is the construction and analysis of an integrated macroeconomic model. In this exercise, four main aspects are stressed that has not previously received adequate textbook attention: intrinsic dynamics of the macroeconomic system; inflation theory; international macroeconomics; and stabilization policy.The main focus of this book, first published in 1977, is the construction and analysis of an integrated macroeconomic model. In this exercise, four main aspects are stressed that has not previously received adequate textbook attention. The 'intrinsic dynamics' of the macroeconomic system are emphasized, as well as developments in inflation theory, particularly pertaining to the role of inflationary expectations. In addition, several chapters are devoted to the international aspects of macroeconomics, and their thorough coverage makes this book especially relevant to countries that are heavily dependant on international trade. Several aspects of stabilization policy are also discussed in detail, and an introduction to optimal stabilization theory is also provided. The book is appropriate to advanced undergraduate and postgraduate courses in macroeconomics.Preface; 1. introduction and overview; Part I. The Closed Economy: 2. Review of basic macroeconomic model; 3. The formulation of a consistent macroeconomic model; 4. the dynamics of the government budget constraint; 5. The wage-price sector; 6. A short-run integrated macroeconomic model; 7. An intermediate ruin macrl³Ò