Inflation, Employment and Business Fluctuations

Abbreviated Contents: Volume C: Inflation, Employment and Business Fluctuations. Introduction to the Series. Preface.Introduction. Chapter 8. The Dynamics of Inflation and Employment. Part 1. Inflation as a Process. Costs, prices and wages: the spiral. Rational expectations. The costs of inflation. Part 2. Pressure of Demand and Inflation. Short-run adjustments. The formation of demand. Part 3. About a Fictitious Direct Control of Inflation and the Credibility of Policies. A simple framework. Time inconsistency. At the frontier between macroeconomics and political economy. Part 4. The Aggregate Demand Approach to Dynamic Macroeconomic Policies. Control of the interest rate with adaptive expectations. About monetary policy rules followed during the 1980s. Part 5. About the Effectiveness of Monetary Policy. The old monetarist position. Introduction to the VARs. The empirical approach: a discussion. Part 6. Wages, Prices and Unemployment. Background, objectives and framework. Econometrics of the price equation. About the dynamics of unemployment. Part 7. More on Policies and Diagnosis. Price adjustments and the formation of demand: a reconsideration. The empirical analysis of macroeconomic time series. A compendium of stability issues. Part 8. Microeconomic Foundations of Macroeconomic Adjustment Laws. Facing markets and competition. Long-term contracts. Aggregation of linear dynamic equations. Chapter 9. Business Fluctuations and Stabilization Policies. Part 1. The Keynesian Vision of Business Cycles. The first elements on economic fluctuations. Limitation of productive capacity. The money market. Part 2. Business Cycle Facts: New Interpretations. Stochastic approaches to the study of business fluctuations. The RBC movement. Debt deflation and the part played by financial factors. Part 3. Structural Macroeconomic Models. A representative mini-model. Estimation of macroeconomic models. Optimal control in macroeconomic policy-making. Taking stock. Part 4. Developments and Alternatives. Macroeconomic disequilibrium models. The VAR approach to stochastic modelling. Macroeconomic public finance strategies. Author index (Volume 35A,B &C). Subject index (Volume 35A,B &C).