Description
Book SynopsisAndrew B. Abel is Ronald A. Rosenfeld Professor of Finance at The Wharton School and professor of economics at the University of Pennsylvania. He received his AB summa cum laude from Princeton University and his PhD from the Massachusetts Institute of Technology. He began his teaching career at the University of Chicago and Harvard University and has held visiting appointments at both Tel Aviv University and The Hebrew University of Jerusalem. A prolific researcher, Abel has published extensively on fiscal policy, capital formation, monetary policy, asset pricing, and social security, as well as serving on the editorial boards of numerous journals. He has been honored as an Alfred P. Sloan Fellow, a Fellow of the Econometric Society, and a recipient of the John Kenneth Galbraith Award for teaching excellence. Abel has served as a visiting scholar at the Federal Reserve Bank of Philadelphia, as a member of the Panel of Economic Advisers at the Congressional Budget Of
Table of Contents
PART 1: INTRODUCTION
- Introduction to Macroeconomics
- The Measurement and Structure of the National Economy
PART 2: LONG-RUN ECONOMIC PERFORMANCE
- Productivity, Output, and Employment
- Consumption, Saving, and Investment
- Saving and Investment in the Open Economy
- Long-Run Economic Growth
- The Asset Market, Money, and Prices
PART 3: BUSINESS CYCLES AND MACROECONOMIC POLICY
- Business Cycles
- The IS–LM/AD–AS Model: A General Framework for Macroeconomic Analysis
- Classical Business Cycle Analysis: Market-Clearing Macroeconomics
- Keynesianism: The Macroeconomics of Wage and Price Rigidity
PART 4: MACROECONOMIC POLICY: ITS ENVIRONMENT AND INSTITUTIONS
- Unemployment and Inflation
- Exchange Rates, Business Cycles, and Macroeconomic Policy in the Open Economy
- Monetary Policy and the Federal Reserve System
- Government Spending and Its Financing
Appendix A: Some Useful Analytical Tools
