Titlebook: European Macroeconomics; Robert Barro,Vittorio Grilli Textbook 1994Latest edition Robert J. Barro and Vittorio Grilli 1994 economic growth

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The Approach to Macroeconomics,sured by the gross national product (GNP) and the gross domestic product (GDP). We look also at the aggregates of employment and unemployment, and at the breakdown of GNP into consumer expenditures, investment (which are purchases of new capital goods), government purchases of goods and services, and net exports.

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Financial Intermediation,hapter 3, we focused on the role of money as a medium of exchange. Households held money because they used it for purchases or sales of goods, bonds, and labour services. To reduce their average real money balance, households had to incur extra transaction costs, which might involve going more often to the bank or the store.

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h and incorporates full treatment of European labour and financial institutions and markets, and covers the main macroeconomic theories and policy in relation to the components of the macroeconomic environment.

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Valentina A. Kundius,Oksana V. Sergienkoney balances and we explained the determinants of aggregate money demand. In this chapter we examine the other financial decision of our typical economic agent: how much to borrow or lend. By using the credit market, people can avoid substantial fluctuations in their consumption even if their income

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https://doi.org/10.1007/978-1-4020-8878-0des with other households or for storing goods, production was equal to consumption for each household. In Chapters 3 and 4, we allowed people to buy and sell goods at the price . and to borrow and lend at the interest rate .. With these market opportunities, a household could save or dissave, so th