[Joseph_E._Stiglitz,_Carl_E._Walsh]_Economics(Bookos.org) (1)

industrialized economies and, 819–20
interest rates and, 739–49, 780–81
lenders and, 510
measurement of, 514–19
monetary policy and, 653–56, 691–97,
722–23, 848–59
overstatement of, 516
perceived costs of, 509–11
Phillips curve and, 821–23
quality improvements and, 517
rate of, 509, 652, 700–704, 707–10, 821
real costs of, 509–11
real rate of interest and, 739–41
sufferers from, 510–11
taxpayers and, 510
unanticipated, 843
uncertainty and, 511, 512–13
and unemployment trade-off, 477–78,
653, 656, 728–29, 819–35, 843–44,
845
variability, 819
Volcker victory over, 478, 700–701, 703
inflation adjustment curve, 704–10, 832–33
inflation adjustment line, 698–99, 710
inflation shocks, 705, 820, 830–31, 832
inflation stability-output stability trade-off,
729
inflation targeting, 654, 655, 747–48, 837–38,
848–59
consequences of, 853–57
pros and cons of, 850–51
inflation tax, 511
information, 7, 13–14
asymmetric, 335
and barriers to entry, 282
cost curves and, 142–43
economic, 647, 882–84
environment and, 418
housing and, 343
imperfect, see imperfect information
markets for, 249–50
perfect, 333
prices and, 248
real-time, 858
strategic behavior and, 326
technologies, 858
information-based wage differentials, 362
information economy, 249
information intermediaries, 346–47
information revolution, 429
see also new economy
information technology, 62, 344
see also computer industry; new economy
informative advertising, 348
injections, spending stream and, 535, 539,
554
innovation:
new economy and, 455
unions and, 360
inputs, 15
cost curves and, 139
diminishing returns and, 133
essential, single ownership of, 282
as factors of production, 132
variable, 132
inside lag, 750, 751
inside traders, 883
insourcing, 805–7
institutional infrastructure, 811–12
insurance:
adverse selection in, 340
health care, 340–42
moral hazards and, 340
social, 378, 389–90
Intel, 3, 155, 429
Itanium chips canceled by, 5
intellectual property, 303, 457
interdependence, international, 432–34
interest, 193
compound, 195, 211
simple, 211
interest rate parity, 784
interest rates:
changes in, 210–11
cut of January 3, 2001, 743
as discount rate, 629, 630, 718
foreign, 782–83
inflation and, 739–49, 780–81
investment and, 537–38, 673–74
monetary policies and, 481, 630, 691–97,
721–23, 736–51, 858
nominal, 195, 673, 692–95, 722–23,
739–41, 856–57
in open economy, 569–71
prices and, 880
prime, 737–38
real, 195; real interest rates
savings and, 196
savings decision and, 194–96, 200–201,
209–11, 536–39
wealth distribution and, 197
intermediate outputs, 489, 491, 492
international financial crisis, 480, 758,
770–71, 772–74, 803, 859
international financial system, 757–76
deficit in, 555
foreign exchange market and, 757–65,
771–74
International Monetary Fund, 555, 789,
803, 812
international trade, 423–49, 572–82
aggregate expenditures and, 676–80
balance of trade in, 677
beggar-thy-neighbor policies in, 317, 441
commercial policies and, 434–35
cooperation in, 445–49
countervailing duties in, 439
displaced workers and, 440
dumping in, 438–39
“fair trade” and, 437–39
in full-employment model, 567–68
GDP and, 424
globalization and, 423
Great Depression and, 317, 441
infant industry argument in, 443–45, 466
liberalization in, 443
and marginal propensity to import, 678,
679–80
nontariff barriers and, 435, 437
open economy and, 568–71, 789
protectionism and, 246, 432–34, 439–45
quotas and, 436
regional trading blocs in, 448–49
strategic trade theory in, 445
tariffs and, 317, 435–36, 437
see also exports; imports; trade; trade
deficit
Internet, 3–6, 27
barter and, 620
comparative advantage and, 429
drug trade on, 5
information problem and, 249
labor market and, 532
labor markets and, 369
price discrimination and, 293
productivity and, 455
Internet connections:
banking information, 629
beige book, 738
Bureau of Economic Analysis, 489
business cycles, 642
consumer price index and, 516
economic growth, 590
Economic Report of the President, 732
Federal Open Market Committee, 710
foreign exchange rates, 785
index funds, 870
inflation calculator, 517
money facts, 610
Nobel Prize, 829
trade data, 573
World Bank’s development goals, 796
interventionists, 847–48
inventories, 664
build up of, 675
investment and, 672, 674–75
production-facilitating function of,
674–75
investing, a student’s guide, 865–88
alternatives, 866–70
desirable attributes of, 870–78
efficient market theory and, 881–84
expectations and, 878–81
strategies for intelligent, 885–86
INDEX ∂ A-23