Elsevier S & T

Inflation, Employment and Business Fluctuations

AUTHOR, UNKNOWN

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Table of contents
  • INFLATION, EMPLOYMENT AND BUSINESS FLUCTUATIONSiii
  • Copyright Pageiv
  • Contentsxvii
  • VOLUME C: INFLATION, EMPLOYMENT AND BUSINESS FLUCTUATIONSxvii
  • Introduction to the seriesv
  • Prefacevii
  • Introductionxxiii
  • Chapter 8. The Dynamics of Inflation and Employment981
  • Part 1: Inflation as a Process985
  • 1.1 Costs, prices and wages: the spiral985
  • 1.2 Cost-push inflation and demand-pull inflation988
  • 1.3 Money and inflation990
  • 1.4 Simple formulas for price expectations993
  • 1.5 Rational expectations996
  • 1.6 Empirical knowledge about the formation of expectations1004
  • 1.7 Interest rates during inflation1007
  • 1.8 Asset prices1013
  • 1.9 The costs of inflation1016
  • Part 2: Pressure of Demand and Inflation1022
  • 2.1 Short-run adjustments1023
  • 2.2 The dilemma: stagnation or inflation1028
  • 2.3 A first look at empirical confirmation1033
  • 2.4 The formation of demand1036
  • Part 3: About a Fictitious Direct Control of Inflation and the Credibility of Policies1045
  • 3.1 A simple framework1047
  • 3.2 An optimal fixed rule1051
  • 3.3 A Nash solution1052
  • 3.4 Time inconsistency1053
  • 3.5 Commitment, simple rules or discretion1056
  • 3.6 About the institutions of economic policy1060
  • 3.7 Government’s reputation1063
  • 3.8 At the frontier between macroeconomics and political economy1069
  • Part 4: The Aggregate Demand Approach to Dynamic Macroeconomic Policies1071
  • 4.1 Control of the interest rate with adaptive expectations1072
  • 4.2 Control of the money supply with adaptive expectations1080
  • 4.3 Monetary policy with alternative hypotheses on expectations1087
  • 4.4 Instrument rules and target rules1098
  • 4.5 About monetary policy rules followed during the 1980s1102
  • Part 5: About the Effectiveness of Monetary Policy1107
  • 5.1 The old monetarist position1108
  • 5.2 A market-clearing theory1111
  • 5.3 Effectiveness of anticipated money growth1117
  • 5.4 The empirical approach: preliminaries1124
  • 5.5 Introduction to the VARs1127
  • 5.6 The empirical approach: some results1131
  • 5.7 The empirical approach: a discussion1136
  • Part 6: Wages, Prices and Unemployment1144
  • 6.1 Background, objectives and framework1145
  • 6.2 Modellization1149
  • 6.3 The NAIRU, the natural rate of unemployment and a few other familiar concepts1160
  • 6.4 Econometrics of the price equation1172
  • 6.5 Econometrics of the wage equation1176
  • 6.6 Econometrics of the NAIRU1183
  • 6.7 About the dynamics of unemployment1188
  • Part 7: More on Policies and Diagnosis1190
  • 7.1 Price adjustments and the formation of demand: a reconsideration1191
  • 7.2 Aggregate demand management1196
  • 7.3 Prices and incomes policies1198
  • 7.4 The empirical analysis of macroeconomic time series1204
  • 7.5 To which shocks are economies commonly exposed? Answers from the VARs1211
  • 7.6 The relative importance of real and monetary shocks for the choice of a monetary policy rule1222
  • 7.7 A compendium of stability issues1228
  • Part 8: Microeconomic Foundations of Macroeconomic Adjustment Laws1236
  • 8.1 Facing markets and competition1238
  • 8.2 Coping with adjustment costs1239
  • 8.3 Interpreting information1241
  • 8.4 Searching before transacting1244
  • 8.5 Long-term contracts1252
  • 8.6 Social norms and social institutions1253
  • 8.7 Aggregation of adjustment laws1261
  • 8.8 Aggregation of linear dynamic equations1265
  • Chapter 9. Business Fluctuations and Stabilization Policies1275
  • Part 1: The Keynesian Vision of Business Cycles1277
  • 1.1 First elements on economic fluctuations1278
  • 1.2 Interplay of the multiplier and the accelerator1280
  • 1.3 Limitation of productive capacity1293
  • 1.4 The reference cycle1298
  • 1.5 Income distribution1300
  • 1.6 Prices and interest1307
  • 1.7 The money market1311
  • Part 2: Business Cycle Facts: New Interpretations1316
  • 2.1 Stochastic approaches to the study of business fluctuations1317
  • 2.2 Stylized facts1339
  • 2.3 Price flexibility and rational expectations: the theory of real business cycles1348
  • 2.4 The RBC movement1359
  • 2.5 Dynamic stochastic general equilibrium: research and perspectives1367
  • 2.6 Market clearing and rational expectations: endogenous cycles1390
  • 2.7 The inventory cycle1403
  • 2.8 The productivity cycle and capacity utilization1412
  • 2.9 Unemployment persistence1421
  • 2.10 Debt deflation and the part played by financial factors1452
  • Part 3: Structural Macroeconometric Models1464
  • 3.1 A representative mini-model1466
  • 3.2 A general form for linear models1473
  • 3.3 Estimation of macroeconometric models1475
  • 3.4 Econometric models as forecasting instruments1483
  • 3.5 Analysis of macroeconometric models1492
  • 3.6 The framework of policy analysis1510
  • 3.7 Optimal control in macroeconomic policy-making1525
  • 3.8 Taking stock1539
  • Part 4: Developments and Alternatives1549
  • 4.1 Macroeconometric disequilibrium models1550
  • 4.2 The rational-expectations approach to applied macroeconomics1560
  • 4.3 Macroeconometric models with rational expectations in practice1580
  • 4.4 The VAR approach to stochastic modelling1593
  • 4.5 The place of calibration in macroeconometrics1612
  • 4.6 Policy making with macroeconomic tools1631
  • 4.7 Macroeconomic public finance strategies1647
  • Author Index (Volume 35A&B&C)I-1
  • Subject Index (Volume 35A&B&C)I-13
Book details
  • Vendor Elsevier S & T
  • SKU 9780444505187
  • ISBN-13 9780080545325
  • Author AUTHOR, UNKNOWN
  • Category Business & Economics
  • Subject Macroeconomics

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