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Contents
Chapter 1 Introduction .........................................................................................................................1
Chapter 2 Measurement .......................................................................................................................8
Chapter 3 Business Cycle Measurement............................................................................................19
Chapter 4 Consumer and Firm Behavior:
The Work-Leisure Decision and Profit Maximization......................................................26
Chapter 5 A Closed-Economy One-Period Macroeconomic Model..................................................42
Chapter 6 Economic Growth: Malthus and Solow.............................................................................52
Chapter 7 Income Disparity Among Countries and Endogenous Growth .........................................64
Chapter 8 A Two-Period Model: The Consumption-Savings
Decision and Ricardian Equivalence.................................................................................68
Chapter 9 A Real Intertemporal Model with Investment...................................................................85
Chapter 10 A Monetary Intertemporal Model: The Neutrality of Money,
Long-Run Inflation, and Money Demand .......................................................................103
Chapter 11 Market-Clearing Models of the Business Cycle..............................................................109
Chapter 12 Keynesian Business Cycle Theory: The Sticky Wage Model .........................................119
Chapter 13 International Trade in Goods and Assets.........................................................................130
Chapter 14 Money in the Open Economy..........................................................................................138
Chapter 15 Money, Inflation and Banking.........................................................................................144
Chapter 16 Unemployment: Search and Efficiency Wages ...............................................................152
Chapter 17 Inflation, the Phillips Curve, and Central Bank Commitment.........................................158
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