Overview

A macroeconomic shock induces an extended process of adjustment that is characterized by unemployment. This in turn requires a dynamic path of monetary and fiscal policy: as a response to the shock, the central bank continuously adapts the quantity of money so as to keep up full employment all the time. And the government continuously accommodates its purchases of goods and services. Can this be sustained? This study provides an analysis of the situation, conducted within an IS-LM model augmented by the dynamics of money wages, private capital and public debt.

Full Product Details

Author:   Michael Carlberg
Publisher:   Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
Imprint:   Physica-Verlag GmbH & Co
Edition:   Softcover reprint of the original 1st ed. 1992
Dimensions:   Width: 17.00cm , Height: 1.00cm , Length: 24.40cm
Weight:   0.370kg
ISBN:  

9783790806199

ISBN 10:   3790806196
Pages:   194
Publication Date:   17 June 1992
Audience:   College/higher education ,  Professional and scholarly ,  Postgraduate, Research & Scholarly ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Active
Availability:   Out of stock  
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Table of Contents

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.- 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.- 5. Fixed Money Wages.- 6. Slow Money Wages.- 7. Continuous Budget Balance.- 8. Monetary Policy.- 9. Fiscal Policy.- 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.

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