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Full Description
This major macroeconomics text by Robert Barro and Vittorio Grilli is written from a European perspective. It adopts an open-economy approach and incorporates full treatment of European labour and financial institutions and markets, and covers the main macroeconomic theories and policy in relation to the components of the macroeconomic environment.
Contents
The Approach to Macroeconomics.- Work Effort, Production and Consumption: The Economics of Robinson Crusoe.- The Behaviour of Households with Markets for Commodities and Assets: The Basic Budget Constraint and the Demand for Money.- The Behaviour of Households with Markets for Commodities and Assets: The Intertemporal Budget Constraint and the Demand for Credit.- The Basic Market-Clearing Model The Labour Market World Markets in Goods and Credit.- An Introduction to Inflation and Interest Rates.- Money, Inflation and Interest Rates in the Market-Clearing Model.- Financial Intermediation.- International Monetary Linkages.- Investment and Real Business Cycles.- Unemployment.- Economic Growth Government Purchases and Public Services Taxes and Transfers.- The Public Debt Investment and Fiscal Policy in the World Economy.- The Interplay between Nominal and Real Variables: What is the Evidence?.- Money and Business Fluctuations in the Market-Clearing Model.- The Keynesian Theory of Business Fluctuations.- Monetary Policies, Credibility and International Coordination.
