This is a short book for students who have taken an introductory course in macroeconomics. The book contains a chapter on each of the major competing macroeconomic theories - Keynesian, Monetarist, real business cycle, and Austrian. Then the book presents macroeconomic data on five episodes in...

The long-term decline in manufacturing employment in the Chicago metropolitan area and in the city of Chicago is examined. Manufacturing employment at the metropolitan level is estimated to decline by 0.90% per year if manufacturing employment is constant in the nation, and to change by about 1%...

A major issue raised by Alfred Marshall is whether competitive industries are subject to increasing or decreasing returns in the long run. If variations from constant returns exist, what are the causes, and is competitive output efficient? In competitive output is not efficient, what policies...

This paper provides an introduction to Keynesian macroeconomic theory as Keynes explained it in The General Theory of Employment, Interest, and Money. Keynes emphasized the principle of effective demand, and argued that the gap between demand for consumption and aggregate supply would increase...

The causes of the housing bubble are investigated using Granger causality analysis and VAR modeling methods. The study employs the S&P/Case-Shiller aggregate 10 city monthly housing price index, available in the period 1987-2010/8, the 20 city monthly housing price index for 2000-2010/8, and the...

This paper is a survey of the thirteen journal articles and notes that Paul Samuelson published prior to the defense of doctoral dissertation in 1941. These publications cover a wide range of topics - the theory of consumer behavior and measurement of utility, international trade, capital...

This study examines suburban real estate developments in the industrial, commercial, and residential sectors for metropolitan Chicago that were completed in 1990-1996. Industrial and commercial developments follow expected patterns in that, for example, they were attracted to locations nearer to...

The approach to reducing the current harm from the COVID-19 disease is to mandate or encourage an array of social distancing behaviors. These behaviors have the negative effects of reducing GDP, personal incomes, and increasing unemployment leading to calls for opening up the economy and thereby...