Understanding Economic Equilibrium
Making Your Way Through an Interdependent World
Published on 11. May 2021
222 pages
978-1-63742-039-3 (ISBN)
Description
Understanding Economic Equilibrium reveals how all markets fit together, and how we as individuals fit into that bigger picture.
Economic agents all over the world are trying to maximize their returns given their efforts, resources, and opportunities. They come together in markets that ultimately allocate goods and services among many competing interests. We can readily see how individual markets behave; it's more difficult, but exponentially more important, to recognize the general equilibrium across all markets. Disturbances in one market have implications for others.
These interrelationships are particularly important to understand when policy changes are being considered where actions in one market will impose changes on other markets, and not always in obvious or pleasant ways. Understanding Economic Equilibrium reveals how all markets fit together, and how we as individuals fit into that bigger picture.
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Mike Shaw | Thomas J. Cunningham
Understanding Economic Equilibrium
Making Your Way Through an Interdependent World
Book
04/2021
Business Expert Press
€24.80
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Persons
Thomas J. Cunningham, PhD, conducted research and developed monetary policy strategies for thirty-one years in the Federal Reserve System, retiring as vice president and senior economist of the Federal Reserve Bank of Atlanta. Subsequently he served as the chief economist and senior vice president at the Metro Atlanta Chamber (MAC). He was a popular speaker, addressing more than forty conferences, corporate meetings and political bodies annually.
Content
- Cover
- Half-Title
- Title
- Copyright
- Description
- Contents
- Preface
- Acknowledgement
- Part I: The Equilibrium Principle:A Natural Dynamic State
- Chapter 1: What Happens There Matters Here
- Chapter 2: It's the Global Economy
- Chapter 3: Politics and the Economy
- Part II: GDP and Consumption
- Chapter 4: GDP: The Perfectly Imperfect Measurement
- Chapter 5: Consumers and Consumption: Follow the Money
- Chapter 6: Shifting Sands: Consumers Prefer Services
- Chapter 7: Great Expectations
- Chapter 8: Saving and Investing: Equilibrium at Work
- Chapter 9: Real Estate: Is It Still Location, Location, Location?
- Chapter 10: Lighten Up: Capital Expenditure and Intellectual Property
- Chapter 11: Inventories: The Buffer Between Production and Consumption
- Chapter 12: State and Local Governments: Where Spending Gets Done
- Chapter 13: Stabilization and Procyclicality: How Governments Balance Spending With Taxes
- Chapter 14: Federal Spending: Budgets and Deficit Spending
- Chapter 15: Jimmy Stewart, Oz, and the Road to a Federal Reserve
- Chapter 16: The Stop Sign (or Toll Booth) at the Border: Trade and Tariffs
- Chapter 17: The Compensation Principle: Should We Pay the Losers?
- Chapter 18: Domestic Imbalance: A Role for Trade Balances
- Chapter 19: As the World Turns
- Part III: The Economy and You
- Chapter 20: COVID-19: How the Pandemic Changed Business
- Chapter 21: Climate Change: "Is It Hot in Here or Is It Me?" (Joan of Arc)
- Chapter 22: Health Care Costs: A Steady Climb
- Chapter 23: First Fridays: Monthly Job Reports
- Chapter 24: A Shrinking Workforce: Jobs and Work in the Twenty-First Century
- Chapter 25: Wages: Minimum and More
- Chapter 26: Measuring Prices: How Much Is a Dollar?
- Chapter 27: Productivity and Wages: What We Make for What We Earn
- Chapter 28: Money Illusion: The Distinction Between Income and Buying Power
- Chapter 29: Baumol Cost Disease: The Relationship Between Wages and Productivity
- Chapter 30: Exchange Rates and Purchasing Power
- Chapter 31: The Fed's Job: A Stable Economy
- Chapter 32: What the Financial Markets Reveal
- Chapter 33: The Yield Curve: What Is It Saying?
- Chapter 34: The Dollar Versus Everything Else
- Chapter 35: Buy Low, Sell High: Efficient Markets
- Chapter 36: An Expert Wife's Advice
- Epilogue
- Glossary of Terms
- About the Authors
- Index
- Adpage
- Backcover
