Macroeconomic Theory

Fluctuations, Inflation and Growth in Closed and Open Economies

Authors: Barbosa, Fernando de Holanda

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  • Offers a comprehensive and updated approach to macroeconomics studies
  • Deals with fundamental aspects of sticky and flexible prices models
  • Covers microfounded and ad hoc models of mainstream macroeconomics
  • Presents closed and open economies models
  • Analyzes the main issues of monetary and fiscal policies
  • Analyzes, with the same framework, the pathologies of external and public debt crises and hyperinflation
  • Uses dynamical systems, as a mathematical tool, to build models
  • Uses the same structure to analyze models: specification, dynamical system equilibrium and stability, and comparative dynamics experiments
  • Includes an appendix that deals with the mathematical tools used in the text
  • Includes a list of exercises in each chapter
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  • ISBN 978-3-319-92132-7
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About this Textbook

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.

About the authors

Fernando de Holanda Barbosa is Professor of Economics at FGV EPGE Brazilian School of Economics and Finance. He has a Ph.D. in economics from the University of Chicago. He is the author of many academic articles in monetary economics and some are collected in the book Exploring the Mechanics of Chronic Inflation and Hyperinflation (Springer, 2017).

Table of contents (11 chapters)

Table of contents (11 chapters)
  • The Representative Agent Model

    Pages 3-32

    Barbosa, Fernando de Holanda

  • The Open-Economy Representative Agent Model

    Pages 33-61

    Barbosa, Fernando de Holanda

  • Overlapping Generations

    Pages 63-87

    Barbosa, Fernando de Holanda

  • The Solow Growth Model

    Pages 89-118

    Barbosa, Fernando de Holanda

  • Economic Growth: Endogenous Savings and Growth

    Pages 119-151

    Barbosa, Fernando de Holanda

Buy this book

eBook n/a
  • ISBN 978-3-319-92132-7
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
Hardcover n/a
  • ISBN 978-3-319-92131-0
  • Free shipping for individuals worldwide
Softcover n/a
  • ISBN 978-3-030-06370-2
  • Free shipping for individuals worldwide
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Bibliographic Information

Bibliographic Information
Book Title
Macroeconomic Theory
Book Subtitle
Fluctuations, Inflation and Growth in Closed and Open Economies
Authors
Copyright
2018
Publisher
Springer International Publishing
Copyright Holder
Springer Nature Switzerland AG
eBook ISBN
978-3-319-92132-7
DOI
10.1007/978-3-319-92132-7
Hardcover ISBN
978-3-319-92131-0
Softcover ISBN
978-3-030-06370-2
Edition Number
1
Number of Pages
XXIV, 456
Number of Illustrations
182 b/w illustrations
Topics