Title Details: | |
Macroeconomic Equilibrium |
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Authors: |
Kyrikos, Dimitrios |
Reviewer: |
Vlassis, Minas |
Subject: | LAW AND SOCIAL SCIENCES > ECONOMIC SCIENCES > MACROECONOMICS AND MONETARY ECONOMICS LAW AND SOCIAL SCIENCES > ECONOMIC SCIENCES > MACROECONOMICS AND MONETARY ECONOMICS > GENERAL AGGREGATIVE MODELS LAW AND SOCIAL SCIENCES > ECONOMIC SCIENCES > MACROECONOMICS AND MONETARY ECONOMICS > MACROECONOMICS: CONSUMPTION, SAVING, PRODUCTION, EMPLOYMENT, AND INVESTMENT LAW AND SOCIAL SCIENCES > ECONOMIC SCIENCES > MACROECONOMICS AND MONETARY ECONOMICS > PRICES, BUSINESS FLUCTUATIONS, AND CYCLES LAW AND SOCIAL SCIENCES > ECONOMIC SCIENCES > MACROECONOMICS AND MONETARY ECONOMICS > MONEY AND INTEREST RATES LAW AND SOCIAL SCIENCES > ECONOMIC SCIENCES > MACROECONOMICS AND MONETARY ECONOMICS > MONETARY POLICY, CENTRAL BANKING, AND THE SUPPLY OF MONEY AND CREDIT LAW AND SOCIAL SCIENCES > ECONOMIC SCIENCES > MACROECONOMICS AND MONETARY ECONOMICS > MACROECONOMIC POLICY, MACROECONOMIC ASPECTS OF PUBLIC FINANCE, AND GENERAL OUTLOOK LAW AND SOCIAL SCIENCES > ECONOMIC SCIENCES > INTERNATIONAL ECONOMICS > MACROECONOMIC ASPECTS OF INTERNATIONAL TRADE AND FINANCE |
Description: | |
Abstract: |
In this chapter, the concept of short-run macroeconomic equilibrium is presented as the state of the economy where output does not tend to change. This short-run equilibrium is determined in the context of the total expenditure model, introduced by J. M. Keynes. To simplify the analysis, we first examine a minimal economic structure without a public sector or foreign transactions and show analytically the determination of equilibrium output and the amplifying effects of changes in total expenditure. Then, we expand the model with a public sector and discuss the effects of fiscal changes.
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Linguistic Editors: |
Kalokyri, Anastasia |
Technical Editors: |
Karamolegkou, Maria |
Type: |
Chapter |
Creation Date: | 2015 |
Item Details: | |
License: |
http://creativecommons.org/licenses/by-nc-nd/3.0/gr |
Handle | http://hdl.handle.net/11419/1562 |
Bibliographic Reference: | Kyrikos, D. (2015). Macroeconomic Equilibrium [Chapter]. In Kyrikos, D. 2015. Macroeconomic Analysis and Policy [Undergraduate textbook]. Kallipos, Open Academic Editions. https://hdl.handle.net/11419/1562 |
Language: |
Greek |
Is Part of: |
Macroeconomic Analysis and Policy |
Publication Origin: |
Kallipos, Open Academic Editions |