Macroeconomic Analysis and Stabilization Policy by Stephen J.... - 9780521291873

Macroeconomic Analysis and Stabilization PolicyAuthor(s): Stephen J. Turnovsky\nFormat: Paperback\nPublisher: Cambridge University Press, United Kingdom\nImprint: Cambridge University Press\nISBN-13: 9780521291873, 978-0521291873\nSynopsis\nThe main focus of this book, first published in 1977, is the construction and analysis of an integrated macroeconomic model. In this exercise, four main aspects are stressed that has not previously received adequate textbook attention. The 'intrinsic dynamics' of the macroeconomic system are emphasized, as well as developments in inflation theory, particularly pertaining to the role of inflationary expectations. In addition, several chapters are devoted to the international aspects of macroeconomics, and their thorough coverage makes this book especially relevant to countries that are heavily dependant on international trade. Several aspects of stabilization policy are also discussed in detail, and an introduction to optimal stabilization theory i.