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| Preface, 1986 | |
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| Preface | |
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| The Neoclassical Theory of Economic Growth and Production | |
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| An introduction to macroeconomic reasoning | |
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| The Malthusian model | |
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| The Malthusian model | |
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| The equilibrium population size and standard of living | |
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| The policy prescriptions of the Malthusian model Where does the Malthusian model stand today? | |
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| The neoclassical model of economic growth Capital as a factor of production Production, income and the accumulation of capital The neoclassical model of economic growth | |
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| Some further properties of the neoclassical model | |
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| The demand for and the price of capital services Factor proportions and the relative compensation of the factors | |
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| Technological change and the neoclassical model Appendix: Mathematical properties of the neoclassical model Bibliography for Section One | |
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| Consumption and Saving | |
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| The microeconomic foundations of aggregate saving and consumption functions Introduction: Some historical background Consumption, saving and the life cycle | |
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| The basic Fisherian model of the savings decision | |
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| The basic model in algebraic form Appendix: Derivation of the consumption function | |
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| Some properties of the life-cycle model of consumption Consumption over the life cycle: Some numerical examples Essential properties of the life-cycle consumption function | |
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| The response of consumption to unanticipated changes in income and wealth Concluding observations Appendix: The permanent income hypothesis | |
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| The neoclassical model with a life-cycle consumption function Steady-state equilibrium properties | |
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| The adjustment to steady state Demographic variables and the equilibrium saving rate Bibliography for Section Two | |
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| Government Finance | |
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| The macroeconomics of taxation Modeling the public sector Tax policy and the equilibrium capital stock | |
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| The burden of the debt Does the debt make a difference? Implications of an increase in the debt on consumption and investment decisions Deficit financing as a permanent policy Appendix: An application to social security Bibliography for Section Three | |
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| Money and the Price Level | |
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| The microeconomic foundations of the demand for money Introduction | |
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| The essential properties of the demand function for money | |
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| A consumption interpretation of the demand for money A life-cycle demand function for money | |
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| The basis of the demand function for money Money holdings and consumption over the life cycle: Some numerical illustrations Appendix: Derivation of the demand function for money | |
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| The Quantity Theory of Money | |
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| The effect of an unanticipated change in the supply of money | |
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| The Quantity Theory of Money The formation of inflationary expectations | |
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| Money and the price level in a growing, full employment economy | |
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| The anatomy of long-run equilibrium in a monetary economy | |
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| The response to changes in the rate of growth of the money supply | |
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| Inflation as a tax Money creation as a revenue device | |
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| The optimal rate of money creation | |
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| Fiscal policy and the price level | |
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| The effects of an increase in government spending Must an increase in government spending be inflationary? | |
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| Is deficit financing more inflationary than tax financing? | |
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| Money and banking | |
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| The business of banking Monetary equilibrium with inside and outside money The fatal flaw in a fractional reserve banking system Central banks and the management of a fractional reserve banking system | |
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| A further look at some of the assumptions Bibliography for Section Four | |
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| Unemployment | |
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| The microeconomic foundations of unemployment Price adjustment in a single market Unemployment in the labor market | |
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| The impact of monetary and fiscal policies on unemployment in the short run and the long Short-run equilibrium with sticky wage rates Fiscal and monetary policies for reducing unemployment: The conventional wisdom The trouble with conventional wisdom Is there a long-run Phillips curve? | |
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| Bibliography for Section Five Index | |