28 Summary and Conclusions

28 Summary and Conclusions - 1 28-1 Course Evaluation...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 1 28-1 Course Evaluation, Summary and Conclusions 28-2 Agenda ¡ Course Evaluation ¡ Summary ¾ The IS-LM, DAD-SAS, and SGM together. ¾ Macroeconomic Rules of Thumb. ¡ Conclusions 28-3 Course Evaluation 28-4 Summary ¡ Three models of economic activity: ¾ The IS-LM model. ¾ The DAD-SRAS model. ¾ The Solow Growth model. 2 28-5 Summary ¡ The IS-LM Model: ¾ Short-run orientation. ¾ Determination of Y and r. ¾ Prices are exogenous. ¾ Y can deviate from Y* in the short-run. ¾ Adjustment mechanism is through inventory change and changes in r. 28-6 Summary ¡ The DAD-SAS Model: ¾ Medium-run orientation. ¾ Determination of Y and ʌ . ¾ Wage and price adjustment is sticky. ¾ Y can deviate from Y* in the short-run but not in the intermediate-run. ¾ Adjustment mechanism is through ʌ , changes in the real Ms, and r. 28-7 Summary ¡ The Solow Growth Model: ¾ Long-run orientation. ¾ Determination of Y*/N, Y*, and y-dot. ¾ Wages and prices are fully flexible. ¾ Y does not deviate from Y* in the long run. ¾ Adjustment mechanism is through adjustments in investment-per-worker and the capital-to- labor ratio....
View Full Document

This note was uploaded on 07/29/2010 for the course UGBA 100b taught by Professor Wood during the Summer '10 term at Berkeley.

Page1 / 6

28 Summary and Conclusions - 1 28-1 Course Evaluation...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online