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The Algebraic Galaxy of Simple Macroeconomic Models [electronic resource] : a hitchhiker's guide / prepared by Evan C. Tanner.

Contributor(s): Material type: TextTextSeries: IMF working paper ; WP/17/123.Publication details: Washington, D. C. : International Monetary Fund, 2017.Description: 1 online resource (42 p.)Content type:
  • text
Media type:
  • computer
Carrier type:
  • online resource
ISBN:
  • 9781484302026
  • 1484302028
Subject(s): Genre/Form: Additional physical formats: Print version:: The Algebraic Galaxy of Simple Macroeconomic ModelsDDC classification:
  • 339 23
LOC classification:
  • HB172.5
Online resources: Summary: Simple macroeconomic frameworks like the IS/LM have survived because they help us conceptualize complex problems while also providing 'back of the envelope' estimates of macroeconomic outcomes. Herein, a bare-bones New Keynesian extension of the IS/LM model yields solutions for core macro variables (output gap, inflation, interest rate, real exchange rate misvaluation)-expressed in percent. We then extend that standard model to also generate a corresponding set of demand-side elements-expressed in currency units. A key aim of the paper is to reconcile these two metrics in ways that also aid communication and intuition-including through IS/LM-style graphs.
Holdings
Item type Current library Collection Call number Status Date due Barcode Item holds
eBook eBook e-Library EBSCO Business Available
Total holds: 0

Includes bibliographical references and index.

Simple macroeconomic frameworks like the IS/LM have survived because they help us conceptualize complex problems while also providing 'back of the envelope' estimates of macroeconomic outcomes. Herein, a bare-bones New Keynesian extension of the IS/LM model yields solutions for core macro variables (output gap, inflation, interest rate, real exchange rate misvaluation)-expressed in percent. We then extend that standard model to also generate a corresponding set of demand-side elements-expressed in currency units. A key aim of the paper is to reconcile these two metrics in ways that also aid communication and intuition-including through IS/LM-style graphs.

Print version record.

Master record variable field(s) change: 050, 072, 082, 650

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