Dynamic Macroeconomics

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Dynamic Macroeconomics

George Alogoskoufis
Dynamic Macroeconomics Book PDF

Author : George Alogoskoufis
Publisher : MIT Press
Page : 801 pages
File Size : 45,7 Mb
Release : 2019-12-17
Category : Business & Economics
ISBN : 9780262355124

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Dynamic Macroeconomics by George Alogoskoufis Pdf

An advanced treatment of modern macroeconomics, presented through a sequence of dynamic equilibrium models, with discussion of the implications for monetary and fiscal policy. This textbook offers an advanced treatment of modern macroeconomics, presented through a sequence of dynamic general equilibrium models based on intertemporal optimization on the part of economic agents. The book treats macroeconomics as applied and policy-oriented general equilibrium analysis, examining a number of models, each of which is suitable for investigating specific issues but may be unsuitable for others. After presenting a brief survey of the evolution of macroeconomics and the key facts about long-run economic growth and aggregate fluctuations, the book introduces the main elements of the intertemporal approach through a series of two-period competitive general equilibrium models—the simplest possible intertemporal models. This sets the stage for the remainder of the book, which presents models of economic growth, aggregate fluctuations, and monetary and fiscal policy. The text focuses on a full analysis of a limited number of key intertemporal models, which are stripped down to essentials so that students can focus on the dynamic properties of the models. Exercises encourage students to try their hands at solving versions of the dynamic models that define modern macroeconomics. Appendixes review the main mathematical techniques needed to analyze optimizing dynamic macroeconomic models. The book is suitable for advanced undergraduate and graduate students who have some knowledge of economic theory and mathematics for economists.

Dynamic Macroeconomics

Peter Flaschel,Reiner Franke,Willi Semmler
Dynamic Macroeconomics Book PDF

Author : Peter Flaschel,Reiner Franke,Willi Semmler
Publisher : MIT Press
Page : 484 pages
File Size : 40,7 Mb
Release : 1997
Category : Business & Economics
ISBN : 0262061910

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Dynamic Macroeconomics by Peter Flaschel,Reiner Franke,Willi Semmler Pdf

An attempt to revitalize the traditions of nonmarket clearing approaches to macroeconomics. Using tools from dynamic analysis, the text introduces a consistent, integrated framework for disequilibrium macroeconomic dynamics and explore its relationship to the competing equilibrium dynamics.

Dynamic Macroeconomics

George Alogoskoufis
Dynamic Macroeconomics Book PDF

Author : George Alogoskoufis
Publisher : MIT Press
Page : 801 pages
File Size : 47,6 Mb
Release : 2019-12-17
Category : Business & Economics
ISBN : 9780262043014

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Dynamic Macroeconomics by George Alogoskoufis Pdf

An advanced treatment of modern macroeconomics, presented through a sequence of dynamic equilibrium models, with discussion of the implications for monetary and fiscal policy. This textbook offers an advanced treatment of modern macroeconomics, presented through a sequence of dynamic general equilibrium models based on intertemporal optimization on the part of economic agents. The book treats macroeconomics as applied and policy-oriented general equilibrium analysis, examining a number of models, each of which is suitable for investigating specific issues but may be unsuitable for others. After presenting a brief survey of the evolution of macroeconomics and the key facts about long-run economic growth and aggregate fluctuations, the book introduces the main elements of the intertemporal approach through a series of two-period competitive general equilibrium models—the simplest possible intertemporal models. This sets the stage for the remainder of the book, which presents models of economic growth, aggregate fluctuations, and monetary and fiscal policy. The text focuses on a full analysis of a limited number of key intertemporal models, which are stripped down to essentials so that students can focus on the dynamic properties of the models. Exercises encourage students to try their hands at solving versions of the dynamic models that define modern macroeconomics. Appendixes review the main mathematical techniques needed to analyze optimizing dynamic macroeconomic models. The book is suitable for advanced undergraduate and graduate students who have some knowledge of economic theory and mathematics for economists.

Introduction to Dynamic Macroeconomic Theory

George T. McCandless,Neil Wallace
Introduction to Dynamic Macroeconomic Theory Book PDF

Author : George T. McCandless,Neil Wallace
Publisher : Harvard University Press
Page : 392 pages
File Size : 43,9 Mb
Release : 1991
Category : Business & Economics
ISBN : 0674461118

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Introduction to Dynamic Macroeconomic Theory by George T. McCandless,Neil Wallace Pdf

Economies are constantly in flux, and economists have long sought reliable means of analyzing their dynamic properties. This book provides a succinct and accessible exposition of modern dynamic (or intertemporal) macroeconomics. The authors use a microeconomics-based general equilibrium framework, specifically the overlapping generations model, which assumes that in every period there are two generations which overlap. This model allows the authors to fully describe economies over time and to employ traditional welfare analysis to judge the effects of various policies. By choosing to keep the mathematical level simple and to use the same modeling framework throughout, the authors are able to address many subtle economic issues. They analyze savings, social security systems, the determination of interest rates and asset prices for different types of assets, Ricardian equivalence, business cycles, chaos theory, investment, growth, and a variety of monetary phenomena. Introduction to Dynamic Macroeconomic Theory will become a classic of economic exposition and a standard teaching and reference tool for intertemporal macroeconomics and the overlapping generations model. The writing is exceptionally clear. Each result is illustrated with analytical derivations, graphically, and by worked out examples. Exercises, which are strategically placed, are an integral part of the book.

Dynamic Macroeconomic Theory

Thomas J. Sargent
Dynamic Macroeconomic Theory Book PDF

Author : Thomas J. Sargent
Publisher : Harvard University Press
Page : 392 pages
File Size : 46,6 Mb
Release : 2009-06-01
Category : Business & Economics
ISBN : 0674043081

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Dynamic Macroeconomic Theory by Thomas J. Sargent Pdf

The tasks of macroeconomics are to interpret observations on economic aggregates in terms of the motivations and constraints of economic agents and to predict the consequences of alternative hypothetical ways of administering government economic policy. General equilibrium models form a convenient context for analyzing such alternative government policies. In the past ten years, the strengths of general equilibrium models and the corresponding deficiencies of Keynesian and monetarist models of the 1960s have induced macroeconomists to begin applying general equilibrium models. This book describes some general equilibrium models that are dynamic, that have been built to help interpret time-series of observations of economic aggregates and to predict the consequences of alternative government interventions. The first part of the book describes dynamic programming, search theory, and real dynamic capital pricing models. Among the applications are stochastic optimal growth models, matching models, arbitrage pricing theories, and theories of interest rates, stock prices, and options. The remaining parts of the book are devoted to issues in monetary theory; currency-in-utility-function models, cash-in-advance models, Townsend turnpike models, and overlapping generations models are all used to study a set of common issues. By putting these models to work on concrete problems in exercises offered throughout the text, Sargent provides insights into the strengths and weaknesses of these models of money. An appendix on functional analysis shows the unity that underlies the mathematics used in disparate areas of rational expectations economics. This book on dynamic equilibrium macroeconomics is suitable for graduate-level courses; a companion book, Exercises in Dynamic Macroeconomic Theory, provides answers to the exercises and is also available from Harvard University Press.

Models for Dynamic Macroeconomics

Fabio C. Bagliano,Giuseppe Bertola
Models for Dynamic Macroeconomics Book PDF

Author : Fabio C. Bagliano,Giuseppe Bertola
Publisher : Oxford University Press on Demand
Page : 290 pages
File Size : 44,9 Mb
Release : 2004
Category : Business & Economics
ISBN : 9780199266821

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Models for Dynamic Macroeconomics by Fabio C. Bagliano,Giuseppe Bertola Pdf

This title provides the student with key methodological tools for the dynamic analysis of a core selection of macroeconomic phenomena, including consumption and investment choices, employment and unemployment outcomes, and economic growth.

Dynamic Macroeconomic Analysis

Sumru Altug,Jagjit S. Chadha,Charles Nolan
Dynamic Macroeconomic Analysis Book PDF

Author : Sumru Altug,Jagjit S. Chadha,Charles Nolan
Publisher : Cambridge University Press
Page : 604 pages
File Size : 45,5 Mb
Release : 2003-11-20
Category : Business & Economics
ISBN : 0521826683

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Dynamic Macroeconomic Analysis by Sumru Altug,Jagjit S. Chadha,Charles Nolan Pdf

This collection of essays applies modern micro-founded macroeconomic models to some of the most important economic policy questions facing monetary and macroeconomic policymakers. Key issues surveyed include: consumption investment; growth and business cycles; the role of government; asset pricing; the interaction of monetary and fiscal policy; open-economy issues; stabilization policy and general equilibrium analysis of emerging market crises. The book includes specially commissioned chapters from recognized authorities.

Stochastic Dynamic Macroeconomics

Gang Gong,Willi Semmler
Stochastic Dynamic Macroeconomics Book PDF

Author : Gang Gong,Willi Semmler
Publisher : Oxford University Press
Page : 224 pages
File Size : 44,5 Mb
Release : 2006-01-19
Category : Business & Economics
ISBN : 0195345738

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Stochastic Dynamic Macroeconomics by Gang Gong,Willi Semmler Pdf

This is a book on stochastic dynamic macroeconomics from a Keynesian perspective. It shows that including Keynesian features in intertemporal models considerably contributes to resolve major puzzles arising in the context of the Dynamic General Equilibrium (DGE) model. It also demonstrates that including microeconomic intertemporal behavior of economic agents in macroeconomics is not inconsistent with Keynesian economics.

Macroeconomic Theory

Michael Wickens
Macroeconomic Theory Book PDF

Author : Michael Wickens
Publisher : Princeton University Press
Page : 617 pages
File Size : 55,6 Mb
Release : 2012-03-12
Category : Business & Economics
ISBN : 9781400842476

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Macroeconomic Theory by Michael Wickens Pdf

The definitive graduate textbook on modern macroeconomics Macroeconomic Theory is the most up-to-date graduate-level macroeconomics textbook available today. This revised second edition emphasizes the general equilibrium character of macroeconomics to explain effects across the whole economy while taking into account recent research in the field. It is the perfect resource for students and researchers seeking coverage of the most current developments in macroeconomics. Michael Wickens lays out the core ideas of modern macroeconomics and its links with finance. He presents the simplest general equilibrium macroeconomic model for a closed economy, and then gradually develops a comprehensive model of the open economy. Every important topic is covered, including growth, business cycles, fiscal policy, taxation and debt finance, current account sustainability, and exchange-rate determination. There is also an up-to-date account of monetary policy through inflation targeting. Wickens addresses the interrelationships between macroeconomics and modern finance and shows how they affect stock, bond, and foreign-exchange markets. In this edition, he also examines issues raised by the most recent financial crisis, and two new chapters explore banks, financial intermediation, and unconventional monetary policy, as well as modern theories of unemployment. There is new material in most other chapters, including macrofinance models and inflation targeting when there are supply shocks. While the mathematics in the book is rigorous, the fundamental concepts presented make the text self-contained and easy to use. Accessible, comprehensive, and wide-ranging, Macroeconomic Theory is the standard book on the subject for students and economists. The most up-to-date graduate macroeconomics textbook available today General equilibrium macroeconomics and the latest advances covered fully and completely Two new chapters investigate banking and monetary policy, and unemployment Addresses questions raised by the recent financial crisis Web-based exercises with answers Extensive mathematical appendix for at-a-glance easy reference This book has been adopted as a textbook at the following universities: American University Bentley College Brandeis University Brigham Young University California Lutheran University California State University - Sacramento Cardiff University Carleton University Colorado College Fordham University London Metropolitan University New York University Northeastern University Ohio University - Main Campus San Diego State University St. Cloud State University State University Of New York - Amherst Campus State University Of New York - Buffalo North Campus Temple University - Main Texas Tech University University of Alberta University Of Notre Dame University Of Ottawa University Of Pittsburgh University Of South Florida - Tampa University Of Tennessee University Of Texas At Dallas University Of Washington University of Western Ontario Wesleyan University Western Nevada Community College

International Macroeconomic Dynamics

Stephen J. Turnovsky
International Macroeconomic Dynamics Book PDF

Author : Stephen J. Turnovsky
Publisher : MIT Press
Page : 514 pages
File Size : 41,9 Mb
Release : 1997
Category : Business & Economics
ISBN : 0262201119

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International Macroeconomic Dynamics by Stephen J. Turnovsky Pdf

International Macroeconomic Dynamics provides extensive applications of important macroeconomic dynamic models to the international economy. For a long time, the study of macroeconomics has focused almost exclusively on a closed economy and downplayed the role of international transactions. Today, however, researchers recognize that one cannot fully understand domestic macroeconomic relationships without considering the global economy within which each country operates. Increasingly, economists are treating international transactions as an integral part of the macroeconomic system, and international macroeconomics has become an area of intensive research activity. International Macroeconomic Dynamics provides extensive applications of important macroeconomic dynamic models to the international economy. It adopts the main contemporary macroeconomic framework, the representative agent model, and develops a series of models of increasing complexity. The author considers both small and large economies and analyzes them in both deterministic and stochastic contexts. The emphasis is very much on the development of the analytical models; a novel feature is the extensive use of continuous-time stochastic methods. While the author applies the models to a range of important policy issues, particularly issues of fiscal policy, the reader is invited to view the analyses as blueprints for other applications.

Introduction to Dynamic Macroeconomic General Equilibrium Models

Jose Luis Torres Chacon
Introduction to Dynamic Macroeconomic General Equilibrium Models Book PDF

Author : Jose Luis Torres Chacon
Publisher : Vernon Press
Page : 270 pages
File Size : 53,9 Mb
Release : 2015-03-01
Category : Electronic
ISBN : 1622730259

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Introduction to Dynamic Macroeconomic General Equilibrium Models by Jose Luis Torres Chacon Pdf

This book offers an introductory step-by-step course to Dynamic Stochastic General Equilibrium modelling. Modern macroeconomic analysis is increasingly concerned with the construction, calibration and/or estimation and simulation of Dynamic General Equilibrium (DGE) models. The book is intended for graduate students as an introductory course to DGE modelling and for those economists who would like a hands-on approach to learning the basics of modern dynamic macroeconomic modelling. The book starts with the simplest canonical neoclassical DGE model and then gradually extends the basic framework incorporating a variety of additional features, such as consumption habit formation, investment adjustment cost, investment-specific technological change, taxes, public capital, household production, non-ricardian agents, monopolistic competition, etc. The book includes Dynare codes for the models developed that can be downloaded from the book's homepage.

Exercises in Dynamic Macroeconomic Theory

Rodolfo E. Manuelli,Thomas J Sargent
Exercises in Dynamic Macroeconomic Theory Book PDF

Author : Rodolfo E. Manuelli,Thomas J Sargent
Publisher : Harvard University Press
Page : 242 pages
File Size : 46,5 Mb
Release : 2009-06-01
Category : Business & Economics
ISBN : 0674040570

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Exercises in Dynamic Macroeconomic Theory by Rodolfo E. Manuelli,Thomas J Sargent Pdf

This book is a companion volume to Dynamic Macroeconomic Theory by Thomas J. Sargent. It provides scrimmages in dynamic macroeconomic theory--precisely the kind of drills that people will need in order to learn the techniques of dynamic programming and its applications to economics. By doing these exercises, the reader can acquire the ability to put the theory to work in a variety of new situations, build technical skill, gain experience in fruitful ways of setting up problems, and learn to distinguish cases in which problems are well posed from cases in which they are not.The basic framework provided by variants of a dynamic general equilibrium model is used to analyze problems in macroeconomics and monetary economics. An equilibrium model provides a mapping from parameters of preferences, technologies, endowments, and "rules of the game" to a probability model for time series. The rigor of the logical connections between theory and observations that the mapping provides is an attractive feature of dynamic equilibrium, or "rational expectations," models. This book gives repeated and varied practice in constructing and interpreting this mapping.

The ABCs of RBCs

George McCandless
The ABCs of RBCs Book PDF

Author : George McCandless
Publisher : Harvard University Press
Page : 448 pages
File Size : 43,5 Mb
Release : 2008-03-31
Category : Business & Economics
ISBN : 9780674033788

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The ABCs of RBCs by George McCandless Pdf

The ABCs of RBCs is the first book to provide a basic introduction to Real Business Cycle (RBC) and New-Keynesian models. These models argue that random shocks—new inventions, droughts, and wars, in the case of pure RBC models, and monetary and fiscal policy and international investor risk aversion, in more open interpretations—can trigger booms and recessions and can account for much of observed output volatility. George McCandless works through a sequence of these Real Business Cycle and New-Keynesian dynamic stochastic general equilibrium models in fine detail, showing how to solve them, and how to add important extensions to the basic model, such as money, price and wage rigidities, financial markets, and an open economy. The impulse response functions of each new model show how the added feature changes the dynamics. The ABCs of RBCs is designed to teach the economic practitioner or student how to build simple RBC models. Matlab code for solving many of the models is provided, and careful readers should be able to construct, solve, and use their own models. In the tradition of the “freshwater” economic schools of Chicago and Minnesota, McCandless enhances the methods and sophistication of current macroeconomic modeling.

Dynamic Macroeconomic Models in Emerging Market Economies

Daniel Lukui Jia
Dynamic Macroeconomic Models in Emerging Market Economies Book PDF

Author : Daniel Lukui Jia
Publisher : Springer Nature
Page : 286 pages
File Size : 41,7 Mb
Release : 2020-08-26
Category : Business & Economics
ISBN : 9789811545887

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Dynamic Macroeconomic Models in Emerging Market Economies by Daniel Lukui Jia Pdf

This book summarizes the evolution of modern macroeconomics (New Consensus Macroeconomics, NCM) and proposes a new approach to theoretical and empirical analysis, which is based on a recently developed dynamic stochastic general equilibrium (DSGE) model. Dynamic macroeconomic analysis in emerging market economies is challenging, and of growing importance in the global economy, where emerging markets are becoming more and more influential. Clearly, a deeper understanding of the inner workings of emerging economies, particularly with respect to their socioeconomic structure and the urbanization process, is needed. The book’s extends the NCM/DSGE model to better account for significant economic and social features in emerging market economies. In particular, household heterogeneities and social stratification are explicitly incorporated into the framework proposed here, substantially enhancing the comprehensiveness of the model economy, and allowing it to better account for underlying social structure in emerging economies. Furthermore, financial and housing markets have not been considered sufficiently in either the advanced or emerging economy literature, an oversight this book remedies. As such, it makes an original and valuable contribution to the field, and a direction for future research.

An Introduction to Computational Macroeconomics

Anelí Bongers,Trinidad Gómez,José L. Torres
An Introduction to Computational Macroeconomics Book PDF

Author : Anelí Bongers,Trinidad Gómez,José L. Torres
Publisher : Vernon Press
Page : 320 pages
File Size : 44,5 Mb
Release : 2020-09-01
Category : Business & Economics
ISBN : 9781622739400

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An Introduction to Computational Macroeconomics by Anelí Bongers,Trinidad Gómez,José L. Torres Pdf

This book presents an introduction to computational macroeconomics, using a new approach to the study of dynamic macroeconomic models. It solves a variety of models in discrete time numerically, using a Microsoft Excel spreadsheet as a computer tool. The solved models include dynamic macroeconomic models with rational expectations, both non-microfounded and microfounded, constituting a novel approach that facilitates the learning and use of dynamic general equilibrium models, which have now become the principal tool for macroeconomic analysis. Spreadsheets are widely known and relatively easy to use, meaning that the computer skills needed to work with dynamic general equilibrium models are affordable for undergraduate students in Advanced Macroeconomics courses.