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| Errata
sheet for 1st printing |
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Page 12, Case study 1.1, title
wrong: gross domestic income
correct: gross national income
Page 21, first paragraph, second line
wrong: DCB
correct: BCB
Page 27, exercise 1.1
wrong: Figure 1.2 gives nominal per capita incomes in European countries, expressed in US dollars.
correct: Figure 1.2 gives nominal per capita incomes in European countries, expressed in Euros (use a 2006 exchange rate of 1.30 USD/EUR in order to convert the values to USD).
Page 31, growth rates paragraph
wrong: Table 1.7 illustrates
correct: Table 1.9 illustrates
Page 43, Case study 2.1, right section, last sentence
wrong: looking at per capita GDP
correct: looking at per capita GNP
Page 48, Maths note, second last line
wrong: Table 2.2
correct: Table 2.3
Page 51, right column, first paragraph
wrong: Knowing that ≤ Y = 825, all we need to know to calculate ≤ G is c and t.
correct: Knowing that Δ Y = 825, all we need to know to calculate Δ G is c and t.
Page 70, second line after equation (5)
wrong: RES/DEP
correct: CRES/DEP
Page 92, Figure 3.19
wrong: wrong graph is shown
correct: view correct graph here
Page 104, second line from bottom
wrong: 2006
correct: 2002
Page 104, bottom line
wrong: 1.3
correct: 2.3
Page 105, Table 4.2, left column, last two lines
wrong: Official reserves account: +2.3 and Statistical discrepancy: +5.9
correct: Official reserves account: -2.3 and Statistical discrepancy: -5.9
Page 115, Margin note
wrong: see Box 3.4
correct: see Box 3.3
Page 125, second line above Figure 5.1
wrong: LM1
correct: IS1
Page 155, Figure 6.5, lower graph, ordinate (vertical axis)
wrong: Π1, Π1, Π2, Π2 (from bottom to top)
correct: Π1', Π1, Π2', Π2 (from bottom to top)
Page 161, Figure 6.11
wrong: when earnings tax is low and when payroll tax is low
correct: when earnings tax is zero and when payroll tax is zero
Page 175, second paragraph, fourth line
wrong: PA < P c
correct: PA < P e
Page 208, Formula (A7.10)
wrong: last term on the right hand side of the equation
correct: add the coefficients "hθ" to "  "
Page 274, second paragraph, fifth line
wrong: [...] lower adjustment path outlined in Figure 9.19.
correct: [...] lower adjustment path outlined in Figure 9.18.
Page 297, Figure 10.20
wrong: wrong graph is shown
correct: view correct graph here
Page 310, Case study 11.1
wrong: [...] They state that when inflation rises by 1 percentage point on an annual basis, the incumbent party loses 0.72 percentage points of its votes. One more percentage point of per capita income growth during the election year adds 0.7 percentage points. And one more quarter during which per capita income growth exceeded 3.2% adds 0.91 percentage points to the incumbent party's share of votes. [...]
correct: [...] They state that when inflation rises by 1 percentage point on an annual basis, the incumbent party loses 0.657 percentage points of its votes. One more percentage point of per capita income growth during the election year adds 0.68 percentage points. And one more quarter during which per capita income growth exceeded 3.2% adds 1.075 percentage points to the incumbent party's share of votes. [...]
Page 417, Exercise 14.3 (e)
wrong: Starting from a primary deficit of 20%
correct: Starting from a debt ratio of 20%
Page 468, Equation 16.10
wrong:
correct:
Page 468, First side-box
wrong:
correct:
Page 487, Fig. 17.6 b
wrong: Point C in Fig. 17.6 b
correct: Should be named point B
Page 488, end of first paragraph
wrong: by working 1 - L1,A% of one's time in period 1 and 1 - L2,A% in period 2.
correct: by working the share L1,A of one's time in period 1 and L2,A in period 2.
Page 495, Figure 17.12
wrong: inaccurate elements in the right-hand part
correct: view proofs requesting artwork corrections here
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