Workbook for Macroeconomic Theory

This workbook presents the answers to the exercises in Macroeconomic Theory, Fluctuations, Inflation and Growth in Closed and Open Economies by Fernando de Holanda Barbosa (2018).  Altogether, there are 172 exercises in eleven chapters and three appendices.

The organization of this workbook follows the organization of the main text. The first part deals with flexible price models, including the representative agent model, the overlapping generations model, and the Solow growth model. The second part covers sticky price models; both Keynesian and Neoclassical. The third part presents exercises on the government budget constraint and monetary theory issues.


There are two types of exercises in this workbook. The first type provides the student with material to practice for a full understanding the subjects presented in the text. The second type covers topics that are not dealt with in the main text, but are included for the sake of completeness. These exercises are marked with an asterisk and can be solved using the tools presented in the corresponding textbook chapter or appendix.