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67 relations: Administered prices, Aggregate expenditure, AP Macroeconomics, Arthur Cecil Pigou, Buckingham Browne & Nichols School, Calvo (staggered) contracts, Chicago school of economics, Classical dichotomy, Credit channel, Divine coincidence, Dynamic stochastic general equilibrium, Economics, Edgeworth price cycle, Edmund Phelps, Emi Nakamura, Excess demand function, Fixed price of Coca-Cola from 1886 to 1959, Friedman rule, General disequilibrium, General glut, Greg Mankiw, History of economic thought, History of macroeconomic thought, Huw Dixon, Hysteresis, Inflation, Inflationism, Interaction between monetary and fiscal policies, Interest rate channel, John A. E. Pottow, John B. Taylor, John Maynard Keynes, Keynesian economics, Kinked demand, Liberalism, List of unsolved problems in economics, Long run and short run, Macroeconomics, Market clearing, Menu cost, Michael Woodford (economist), Monetary-disequilibrium theory, Money illusion, Neutrality of money, New classical macroeconomics, New Keynesian economics, New neoclassical synthesis, Oligopoly, Paradox of thrift, Paul Samuelson, ..., Phillips curve, Pigou effect, Policy-ineffectiveness proposition, Quantity theory of money, Real exchange-rate puzzles, Real rigidity, Rigidity, Robert Hall (economist), Saltwater and freshwater economics, Shapiro–Stiglitz theory, Stagflation, Stanley Fischer, Sticky, Sticky information, Taylor contract (economics), Truman Bewley, Veil of money. Expand index (17 more) »
Administered prices
Administered prices are prices of goods set by the internal pricing structures of firms that take into account cost rather than through the market forces of supply and demand and predicted by classical economics.
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Aggregate expenditure
In economics, aggregate expenditure (AE) is a measure of national income.
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AP Macroeconomics
Advanced Placement Macroeconomics (also known as AP Macroeconomics, AP Macro, APMa, or simply Macro) is an Advanced Placement macroeconomics course and exam offered by the College Board.
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Arthur Cecil Pigou
Arthur Cecil Pigou (18 November 1877 – 7 March 1959) was an English economist.
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Buckingham Browne & Nichols School
Buckingham Browne & Nichols School, often referred to as BB&N, is an independent co-educational day school in Cambridge, Massachusetts, educating students from pre-kindergarten (called Beginners) through twelfth grade.
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Calvo (staggered) contracts
A Calvo contract is the name given in macroeconomics to the pricing model that when a firm sets a nominal price there is a constant probability that a firm might be able to reset its price which is independent of the time since the price was last reset.
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Chicago school of economics
The Chicago school of economics is a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago, some of whom have constructed and popularized its principles.
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Classical dichotomy
In macroeconomics, the classical dichotomy is the idea, attributed to classical and pre-Keynesian economics, that real and nominal variables can be analyzed separately.
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Credit channel
The credit channel mechanism of monetary policy describes the theory that a central bank's policy changes affect the amount of credit that banks issue to firms and consumers for purchases, which in turn affects the real economy.
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Divine coincidence
In economics, divine coincidence refers to the property of New Keynesian models that there is no trade-off between the stabilization of inflation and the stabilization of the welfare-relevant output gap (the gap between actual output and efficient output) for central banks.
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Dynamic stochastic general equilibrium
Dynamic stochastic general equilibrium modeling (abbreviated as DSGE, or DGE, or sometimes SDGE) is a method in macroeconomics that attempts to explain economic phenomena, such as economic growth and business cycles, and the effects of economic policy, through econometric models based on applied general equilibrium theory and microeconomic principles.
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Economics
Economics is the social science that studies the production, distribution, and consumption of goods and services.
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Edgeworth price cycle
An Edgeworth price cycle is cyclical pattern in prices characterized by an initial jump, which is then followed by a slower decline back towards the initial level.
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Edmund Phelps
Edmund Strother Phelps, (born July 26, 1933) is an American economist and the winner of the 2006 Nobel Memorial Prize in Economic Sciences.
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Emi Nakamura
Emi Nakamura is a Professor of Business and Economics at Columbia Business School, a Research Associate of the National Bureau of Economic Research, and an Associate Editor of the Journal of Economic Perspectives.
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Excess demand function
In microeconomics, an excess demand function is a function expressing excess demand for a product—the excess of quantity demanded over quantity supplied—in terms of the product's price and possibly other determinants.
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Fixed price of Coca-Cola from 1886 to 1959
The fixed price of Coca-Cola from 1886 to 1959 refers to a period in the United States during which the price of 6.5 oz of Coca-Cola fluctuated very little to consumers.
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Friedman rule
The Friedman rule is a monetary policy rule proposed by Milton Friedman.
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General disequilibrium
In macroeconomic theory, general disequilibrium is a situation in which some or all of the aggregated markets, such as the money market, the goods market, and the labor market, fail to clear because of price rigidities.
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General glut
In macroeconomics, a general glut is an excess of supply in relation to demand, specifically, when there is more production in all fields of production in comparison with what resources are available to consume (purchase) said production.
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Greg Mankiw
Nicholas Gregory Mankiw (born February 3, 1958) is an American macroeconomist and the Robert M. Beren Professor of Economics at Harvard University.
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History of economic thought
The history of economic thought deals with different thinkers and theories in the subject that became political economy and economics, from the ancient world to the present day in the 21st Century.
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History of macroeconomic thought
Macroeconomic theory has its origins in the study of business cycles and monetary theory.
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Huw Dixon
Huw David Dixon (/hju: devəd dɪksən/), born 1958, is a British economist. He has been a professor at Cardiff Business School since 2006, having previously been Head of Economics at the University of York (2003–2006) after being a Professor of economics there (1992–2003), and the University of Swansea (1991–1992), a Reader at Essex University (1987–1991) and a lecturer at Birkbeck College (University of London) 1983–1987.
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Hysteresis
Hysteresis is the dependence of the state of a system on its history.
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Inflation
In economics, inflation is a sustained increase in price level of goods and services in an economy over a period of time.
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Inflationism
Inflationism is a heterodox economic, fiscal, or monetary policy, that predicts that a substantial level of inflation is harmless, desirable or even advantageous.
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Interaction between monetary and fiscal policies
Fiscal policy and monetary policy are the two tools used by the state to achieve its macroeconomic objectives.
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Interest rate channel
The interest rate channel is a mechanism of monetary policy, whereby a policy-induced change in the short-term nominal interest rate by the central bank affects the price level, and subsequently output and employment.
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John A. E. Pottow
John Anthony Edwards Pottow, State Bar of Michigan.
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John B. Taylor
John Brian Taylor (born December 8, 1946) is the Mary and Robert Raymond Professor of Economics at Stanford University, and the George P. Shultz Senior Fellow in Economics at Stanford University's Hoover Institution.
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John Maynard Keynes
John Maynard Keynes, 1st Baron Keynes (5 June 1883 – 21 April 1946), was a British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments.
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Keynesian economics
Keynesian economics (sometimes called Keynesianism) are the various macroeconomic theories about how in the short run – and especially during recessions – economic output is strongly influenced by aggregate demand (total demand in the economy).
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Kinked demand
The Kinked-Demand curve theory is an economic theory regarding oligopoly and monopolistic competition.
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Liberalism
Liberalism is a political and moral philosophy based on liberty and equality.
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List of unsolved problems in economics
This is a list of some of the major unsolved problems, puzzles, or questions in neoclassical economics.
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Long run and short run
In microeconomics, the long run is the conceptual time period in which there are no fixed factors of production, so that there are no constraints preventing changing the output level by changing the capital stock or by entering or leaving an industry.
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Macroeconomics
Macroeconomics (from the Greek prefix makro- meaning "large" and economics) is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole.
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Market clearing
In economics, market clearing is the process by which, in an economic market, the supply of whatever is traded is equated to the demand, so that there is no leftover supply or demand.
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Menu cost
In economics, a menu cost is the cost to a firm resulting from changing its prices.
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Michael Woodford (economist)
Michael Dean Woodford (born 1955) is an American macroeconomist and monetary theorist who currently teaches at Columbia University.
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Monetary-disequilibrium theory
Monetary disequilibrium theory is a product of the Monetarist school and is mainly represented in the works of Leland Yeager and Austrian macroeconomics.
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Money illusion
In economics, money illusion, or price illusion, is the tendency of people to think of currency in nominal, rather than real, terms.
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Neutrality of money
Neutrality of money is the idea that a change in the stock of money affects only nominal variables in the economy such as prices, wages, and exchange rates, with no effect on real variables, like employment, real GDP, and real consumption.
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New classical macroeconomics
New classical macroeconomics, sometimes simply called new classical economics, is a school of thought in macroeconomics that builds its analysis entirely on a neoclassical framework.
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New Keynesian economics
New Keynesian economics is a school of contemporary macroeconomics that strives to provide microeconomic foundations for Keynesian economics.
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New neoclassical synthesis
The new neoclassical synthesis (NNS) or new synthesis is the fusion of the major, modern macroeconomic schools of thought, new classical and Neo-Keynesianism, into a consensus on the best way to explain short-run fluctuations in the economy.
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Oligopoly
An oligopoly (from Ancient Greek ὀλίγος (olígos) "few" + πωλεῖν (polein) "to sell") is a market form wherein a market or industry is dominated by a small number of large sellers (oligopolists).
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Paradox of thrift
The paradox of thrift (or paradox of saving) is a paradox of economics.
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Paul Samuelson
Paul Anthony Samuelson (15 May 1915 – 13 December 2009) was an American economist and the first American to win the Nobel Memorial Prize in Economic Sciences.
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Phillips curve
The Phillips curve is a single-equation empirical model, named after William Phillips, describing a historical inverse relationship between rates of unemployment and corresponding rates of rises in wages that result within an economy.
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Pigou effect
In economics, the Pigou effect is the stimulation of output and employment caused by increasing consumption due to a rise in real balances of wealth, particularly during deflation.
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Policy-ineffectiveness proposition
The policy-ineffectiveness proposition (PIP) is a new classical theory proposed in 1975 by Thomas J. Sargent and Neil Wallace based upon the theory of rational expectations, which posits that monetary policy cannot systematically manage the levels of output and employment in the economy.
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Quantity theory of money
In monetary economics, the quantity theory of money (QTM) states that the general price level of goods and services is directly proportional to the amount of money in circulation, or money supply.
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Real exchange-rate puzzles
The real exchange-rate puzzles is a common term for two much-discussed anomalies of real exchange rates: that real exchange rates are more volatile and show more persistence than what most models can account for.
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Real rigidity
In macroeconomics, rigidities are real prices and wages that fail to adjust to the level indicated by equilibrium or if something holds one price or wage fixed to a relative value of another.
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Rigidity
Rigid or rigidity may refer to.
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Robert Hall (economist)
Robert Ernest "Bob" Hall (born August 13, 1943) is an American economist and a Robert and Carole McNeil Senior Fellow at Stanford University's Hoover Institution.
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Saltwater and freshwater economics
In economics, the freshwater school (or sometimes sweetwater school) comprises US-based macroeconomists who, in the early 1970s, challenged the prevailing consensus in macroeconomics research.
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Shapiro–Stiglitz theory
In labour economics, Shapiro–Stiglitz theory of efficiency wages (or Shapiro–Stiglitz efficiency wage modelW. Sjostrom, Job Security in an Efficiency Wage Model, Journal of Macroeconomics, Winter 1993, Vol. 15, No. 1, pp. 183–187) is an economic theory of wages and unemployment in labour market equilibrium.
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Stagflation
In economics, stagflation, a portmanteau of stagnation and inflation, is a situation in which the inflation rate is high, the economic growth rate slows, and unemployment remains steadily high.
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Stanley Fischer
Stanley Fischer (סטנלי פישר; born October 15, 1943) is an Israeli American economist and former vice chairman of the Federal Reserve.
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Sticky
Sticky may refer to.
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Sticky information
In the field of Management, Sticky Information is information which is costly to acquire, transfer, and use in a new location.
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Taylor contract (economics)
The Taylor contract or staggered contract was first formulated by John B. Taylor in his two articles, in 1979 "Staggered wage setting in a macro model'.
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Truman Bewley
Truman Fassett Bewley (born July 19, 1941) is an American economist.
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Veil of money
The veil of money is the property assumed by some economists whereby money is a commodity like other commodities – such as oil or gold or food – as opposed to its having special properties.
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Nominal rigidities, Price rigidity, Price stickiness, Stick prices, Sticky (economics), Sticky Prices, Sticky price, Sticky prices, Sticky pricing, Sticky wage, Sticky wages, Wage stickiness.
References
[1] https://en.wikipedia.org/wiki/Nominal_rigidity
