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Elementos de teoría y política macroeconómica para una economía abierta. Cuarta parte: Capítulos 12, 13 y 14

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  • Félix Jiménez

    (Departamento de Economía- Pontificia Universidad Católica del Perú)

Abstract

The fourth part, which consists of three chapters (12, 13 and 14), deals with macroeconomic policy in a full employment context. It analyses the labor market and its relationship with Aggregate Supply; then it presents the IS-LM model including this relation; and investment-saving relation in a full employment context. The twelfth chapter develops the link between employment and output in a flexible price economy, by studying the labor market and the production function. The thirteenth chapter presents the complete IS-LM model. This is the neoclassical synthesis model with flexible prices and full employment. It incorporates the neoclassical production function and the equations of supply and demand for labor. The fourteenth chapter examines the income-expenditure equilibrium in the (neo) classical model with flexible prices, and the investment-saving equilibrium for an open economy. It also emphasizes the importance of the role played by the interest rate in a model where the aggregate levels of expenditure and output don’t change, due to the full employment assumption.

Suggested Citation

  • Félix Jiménez, 2010. "Elementos de teoría y política macroeconómica para una economía abierta. Cuarta parte: Capítulos 12, 13 y 14," Documentos de Trabajo / Working Papers 2010-299, Departamento de Economía - Pontificia Universidad Católica del Perú.
    • Handle: RePEc:pcp:pucwps:wp002999
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    Keywords

    teoría política; labor del mercado.;

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