Monetary and Fiscal Dynamics

ISBN-13: 9783790806199 / Angielski / Miękka / 1992 / 194 str.

Michael Carlberg

Opis

A macroeconomic shock induces an extended process of adjustment that is characterized by unemployment. This is an analysis of the situation, conducted within an IS-LM model augmented by the dynamics of money wages, private capital and public debt.

Spis treści

I. Basic Model.- 1. Overlapping Generations.- 2. Short-Run Equilibrium.- 3. IS-LM and AD-AS Diagrams.- 4. Long-Run Equilibrium.- 5. Stability.- 6. Monetary Shock.- 7. Savings Shock.- 8. Demographic Shock.- 9. Investment Shock.- 10. Wage Shock.- 11. Flexible Money Wages.- 12. Fixed Money Wages.- 12.1. Stability.- 12.2. Macroshocks.- 13. Monetary Policy.- 14. Cyclical Adjustment.- II. Economy with Public Sector.- 1. Overlapping Generations.- 2. Short-Run Equilibrium.- 3. Long-Run Equilibrium.- 4. Flexible Money Wages.- 4.1. Stability.- 4.2. Macroshocks.- 5. Fixed Money Wages.- 5.1. Stability.- 5.2. Macroshocks.- 6. Slow Money Wages.- 7. Continuous Budget Balance.- 8. Monetary Policy.- 9. Fiscal Policy.- 9.1. Stability.- 9.2. Macroshocks.- 10. Monetary Policy versus Fiscal Policy.- III. Growing Economy.- 1. Solow Model.- 2. Short-Run Equilibrium.- 3. IS-LM and AD-AS Diagrams.- 4. Long-Run Equilibrium.- 5. Stability.- 6. Monetary Shock.- 7. Savings Shock.- 8. Investment Shock.- Conclusion.- Result.- Symbols.- References.