Joseph Stiglitz & Macroeconomics - Unionpedia, the concept map

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Difference between Joseph Stiglitz and Macroeconomics

Joseph Stiglitz vs. Macroeconomics

Joseph Eugene Stiglitz (born February 9, 1943) is an American New Keynesian economist, a public policy analyst, political activist, and a full professor at Columbia University. Macroeconomics is a branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole.

Cambridge University Press

Cambridge University Press is the university press of the University of Cambridge.

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Efficiency wage

The term efficiency wages (also known as "efficiency earnings") was introduced by Alfred Marshall to denote the wage per efficiency unit of labor.

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European Central Bank

The European Central Bank (ECB) is the central component of the Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union.

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General equilibrium theory

In economics, general equilibrium theory attempts to explain the behavior of supply, demand, and prices in a whole economy with several or many interacting markets, by seeking to prove that the interaction of demand and supply will result in an overall general equilibrium.

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Great Depression

The Great Depression (19291939) was a severe global economic downturn that affected many countries across the world.

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Gross domestic product

Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced and rendered in a specific time period by a country or countries.

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Janet Yellen

Janet Louise Yellen (born August 13, 1946) is an American economist serving as the 78th United States secretary of the treasury since January 26, 2021.

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John Maynard Keynes

John Maynard Keynes, 1st Baron Keynes (5 June 1883 – 21 April 1946), was an English economist and philosopher whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments.

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Market failure

In neoclassical economics, market failure is a situation in which the allocation of goods and services by a free market is not Pareto efficient, often leading to a net loss of economic value.

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Neoclassical economics

Neoclassical economics is an approach to economics in which the production, consumption, and valuation (pricing) of goods and services are observed as driven by the supply and demand model.

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Neoclassical synthesis

The neoclassical synthesis (NCS), neoclassical–Keynesian synthesis,Mankiw, N. Gregory.

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New Keynesian economics

New Keynesian economics is a school of macroeconomics that strives to provide microeconomic foundations for Keynesian economics.

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Perfect information

In economics, perfect information (sometimes referred to as "no hidden information") is a feature of perfect competition.

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Quantitative easing

Quantitative easing (QE) is a monetary policy action where a central bank purchases predetermined amounts of government bonds or other financial assets in order to stimulate economic activity.

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Robert Solow

Robert Merton Solow, GCIH (August 23, 1924 – December 21, 2023) was an American economist and Nobel laureate whose work on the theory of economic growth culminated in the exogenous growth model named after him.

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Tax

A tax is a mandatory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization to collectively fund government spending, public expenditures, or as a way to regulate and reduce negative externalities.

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Unemployment

Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is people above a specified age (usually 15) not being in paid employment or self-employment but currently available for work during the reference period.

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2007–2008 financial crisis

The 2007–2008 financial crisis, or the global financial crisis (GFC), was the most severe worldwide economic crisis since the Great Depression.

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