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Macroeconomic Theory

Fluctuations, Inflation and Growth in Closed and Open Economies

  • Fernando de Holanda Barbosa

Table of contents

  1. Front Matter
    Pages i-xxiv
  2. Flexible Price Models

    1. Front Matter
      Pages 1-1
    2. Fernando de Holanda Barbosa
      Pages 3-32
    3. Fernando de Holanda Barbosa
      Pages 33-61
    4. Fernando de Holanda Barbosa
      Pages 63-87
    5. Fernando de Holanda Barbosa
      Pages 89-118
    6. Fernando de Holanda Barbosa
      Pages 119-151
  3. Sticky Price Models

    1. Front Matter
      Pages 153-153
    2. Fernando de Holanda Barbosa
      Pages 197-238
    3. Fernando de Holanda Barbosa
      Pages 239-265
    4. Fernando de Holanda Barbosa
      Pages 267-304
  4. Monetary and Fiscal Policy Models

    1. Front Matter
      Pages 305-305
    2. Fernando de Holanda Barbosa
      Pages 307-338
    3. Fernando de Holanda Barbosa
      Pages 339-369
  5. Back Matter
    Pages 371-435

About this book

Introduction

Macroeconomics is the application of economic theory to the study of the economy’s growth, cycle and price-level determination. Macroeconomics takes account of stylized facts observed in the real world and builds theoretical frameworks to explain such facts. Economic growth is a stylized fact of market economies, since England’s nineteenth-century industrial revolution. Until then, poverty was a common good for humanity. Economic growth consists in the persistent, smooth and sustained increase of per-capita income. A market economy shows periods of expanding and contracting economic activity. This phenomenon is the economic cycle. The price of money is the amount of goods bought with one unit of money, in other words, the inverse of the price level. Determination of the price level, or the value of money, is a fascinating subject in a fiat money economy.


Keywords

Fluctuation Keynesian Models Real Business Cycle Growth Exogenous Growth Endogenous Growth Government Budget Constraint Fiscal Policy Monetary Policy

Authors and affiliations

  • Fernando de Holanda Barbosa
    • 1
  1. 1.FGV EPGE Escola Brasileira de Economia e FinançasRio de JaneiroBrazil

Bibliographic information