Preface Acknowledgements About the authors Macroeconomics for the long run and for the short run Book One: The Long Run Some Facts about Prosperity and Growth Part 1: Basic Theory and Empirics about Prosperity and Growth Capital Accumulation and Growth: The Basic Solow Model Wealth Accumulation and Capital Mobility: The Solow Model for a Small Open Economy Part 2: Exogenous Growth Technological Progress and Growth: The General Solow Model Education and Growth: The Solow Model with Human Capital Limits to Growth? The Solow Model with Scarce Natural Resources Part 3: Endogenous Growth Productive Externalities and Endogenous Growth R&D-Based Endogenous Growth Part 4: Structural Unemployment Some Facts and Introductory Theory about Unemployment Efficiency Wages and Unemployment Trade Unions and Unemployment Appendix: Table A: Some growth relevant country data Book Two: The Short Run Some Facts about Business Cycles

Part 5: The Building Blocks for the Short-run Model Investment and Asset Prices Consumption, Income and Wealth Monetary Policy and Aggregate Demand Inflation, Unemployment and Aggregate Supply

Part 6: The Short-run Model for the Closed Economy Explaining Business Cycles: Aggregate Supply and Aggregate Demand in Action Stabilization Policy: Why Stabilization Policy: How? Stabilization Policy with Rational Expectations The Limits to Stabilization Policy: Credibility and Uncertainty Part 7: The Short-run Model for the Open Economy Aggregate Demand and Aggregate Supply in the Open Economy Chapter 24 The Open Economy with Fixed Exchange Rates Chapter 25 The Open Economy with Flexible Exchange Rates Appendix: Basic regression analysis