An Encyclopedia of Macroeconomics

Snowdon and Vane have produced this volume to provide a major reference work in the field of macroeconomics for use by students and lecturers. Macroeconomics is about understanding the behaviour and performance of the economy as a whole and the forces that subsequently shape the business environment. It focuses on employment, inflation, prices, consumption and the output of the whole economy. Macroeconomists use a number of different models and different theories, and as such, the subject area is full of controversy with economists from the differing schools of thought continually disagreeing. This encyclopedia therefore provides definitions of key terms and...