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Basic Macroeconomics

Author

Listed:
  • Farm, Ante

    (Swedish Institute for Social Research, Stockholm University)

Abstract

While traditional macroeconomics is organized around different theories for the short-run, the medium run and the long run, this text is an introduction to macroeconomics which applies to every year, not only every year of the short run, but also every year of the medium run and the long run. Based on a new benchmark model of pricing, it clarifies the determinants of inflation. Based on macroeconomic identities, it clarifies the determinants of aggregate profits. Based on a complete model of labour demand, it clarifies the determinants of employment. And based on the definition of unemployed as people without employment looking for jobs, it clarifies the determinants of unemployment, including matching problems.

Suggested Citation

  • Farm, Ante, 2018. "Basic Macroeconomics," Working Paper Series 1/2018, Stockholm University, Swedish Institute for Social Research.
    • Handle: RePEc:hhs:sofiwp:2018_001
    as

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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Output; inflation; employment; unemployment.;
    All these keywords.

    JEL classification:

    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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