List of used symbols | Introduction to Macroeconomics: Pluralist and Interactive (2024)

\(\alpha\)Coefficient of the component of the IS curve dependent on the interest rate#\(\beta\)Loss parameter of the central bank#\(\mu\)Government spending multiplier#\(\mu_T\)Tax multiplier for taxation autonomous from income#\(\mu_{T_a}\)Tax multiplier for taxes depending on income#\(\mu_{H}\)Haavelmo multiplier#\(a_a\)Autonomous investments (or ‘animal spirits’)#\(a_r\)Interest rate sensitivity of investments#\(a_Y\)Accelerator effect of investment demand#\(A\)Components in the IS curve autonomous from income and independent of the interest rate#\(b\)Social benefits#\(c_a\)Autonomous consumption#\(c_Y\)Marginal propensity to consume out of total income#\(c_{Y_d}\)Marginal propensity to consume out of disposable income#\(C\)Aggregate consumption#\(C_{h}\)Household consumption expenditure#\(FB_f\)Financial balance of the foreign sector#\(FB_p\)Financial balance of the private sector#\(FB_g\)Financial balance of the government sector#\(G\)Government expenditure#\(i\)Nominal interest rate#\(i^{best}\)Optimal policy rate of the central bank at the zero lower bound#\(I\)Investment#\(IS^n\)Nominal interest rate IS curve#\(IS^r\)Real interest rate IS curve#\(k\)Conflict orientation of employees#\(K\)Capital stock#\(L\)Employment#\(L^{N}\)Employment in the distributional equilibrium#\(L^{*}\)Employment in the goods market equilibrium#\(Loss\)Loss function of the central bank#\(m\)Price mark-up of firms on unit labour costs#\(M\)Imports#\(MC\)Marginal cost#\(MR\)Monetary policy rule#\(N\)Labour force#\(\pi\)Realised inflation#\(\pi^{e}\)Inflation expectations#\(\pi_{pk}\)Realised inflation in the post-Keynesian Phillips curve#\(\pi^{T}\)Inflation target#\(\Pi_r\)Total real profit#\(P\)Price level#\(P^{e}\)Expected price level#\(PS\)Price-setting curve#\(PS_{pk}\)Post-Keynesian price-setting curve#\(PC\)Phillips curve#\(PC_{pk}\)Post-Keynesian Phillips curve#\(r\)Real interest rate#\(S\)Saving#\(S_{h}\)Saving of households#\(S_{g}\)Saving of the government#\(S_b\)Saving of the firms#\(t\)Average net tax rate#\(T\)Net tax revenues#\(Tr\)Transfer payments#\(T_a\)Tax payments independent of income#\(T_{h}\)Tax payments by households#\(T_b\)Tax payments of the firms#\(U\)Number of unemployed#\(u\)Unemployment rate#\(u^*\)Equilibrium unemployment rate#\(V^E\)Present value of the expected cash-flow in the calculation of the marginal efficiency of capital#\(VL_{g}\)Payments for the intermediate consumption of the government#\(VUC\)Variable unit costs#\(w_n\)Nominal wage rate#\(w^{ps}\)Real wage target of firms#\(w_r\)Real wage rate#\(w^{ws}\)Real wage target of workers#\(W\)Real wage sum#\(WS\)Wage-setting curve#\(WS_{pk}\)Post-Keynesian wage-setting curve#\(X\)Exports#\(y\)Labour productivity#\(Y\)Total output, total income#\(Y^{*}\)Total output, total income in the goods market equilibrium#\(Y^{best}\)Best possible output to be reached by the central bank at the zero lower bound#\(Y_{h}^{g}\)Household income received from the government sector#\(Y_{h}^b\)Household income received from the firms sector#\(Y_{N}\)Aggregate demand#\(Y_{N_a}\)Income autonomous aggregate demand#\(Y^{N}\)Total output, total income in the distributional equilibrium#\(Y^{p}\)Output at full utilisation of production capacity#\(Y_{d}\)Disposable income#\(Z\)Subsidies#