Macroeconomic Dynamics

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Methods of Macroeconomic Dynamics

Stephen J. Turnovsky
Methods of Macroeconomic Dynamics Book PDF

Author : Stephen J. Turnovsky
Publisher : MIT Press
Page : 698 pages
File Size : 49,8 Mb
Release : 2000
Category : Business & Economics
ISBN : 0262201232

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Methods of Macroeconomic Dynamics by Stephen J. Turnovsky Pdf

Just as macroeconomic models describe the overall economy within a changing, or dynamic, framework, the models themselves change over time. In this text Stephen J. Turnovsky reviews in depth several early models as well as a representation of more recent models. They include traditional (backward-looking) models, linear rational expectations (future-looking) models, intertemporal optimization models, endogenous growth models, and continuous time stochastic models. The author uses examples from both closed and open economies. Whereas others commonly introduce models in a closed context, tacking on a brief discussion of the model in an open economy, Turnovsky integrates the two perspectives throughout to reflect the increasingly international outlook of the field. This new edition has been extensively revised. It contains a new chapter on optimal monetary and fiscal policy, and the coverage of growth theory has been expanded substantially. The range of growth models considered has been extended, with particular attention devoted to transitional dynamics and nonscale growth. The book includes cutting-edge research and unpublished data, including much of the author's own work.

International Macroeconomic Dynamics

Stephen J. Turnovsky
International Macroeconomic Dynamics Book PDF

Author : Stephen J. Turnovsky
Publisher : MIT Press
Page : 514 pages
File Size : 47,7 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.

Macroeconomic Dynamics

Bernard Lonergan
Macroeconomic Dynamics Book PDF

Author : Bernard Lonergan
Publisher : University of Toronto Press
Page : 128 pages
File Size : 41,5 Mb
Release : 1999-12-25
Category : Philosophy
ISBN : 9781487588786

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Macroeconomic Dynamics by Bernard Lonergan Pdf

Few theologians in history have matched Bernard Lonergan's range of learning. Fewer still have written on the "dismal science" of economics. Rooted so solidly in the concerns of this world, economics is not a discipline we associate with the more rarified pursuit of theology. In this long-awaited volume, Lonergan demonstrates the short-sightedness of this view. This companion volume to For A New Political Economy (Collected Works of Bernard Lonergan, Volume 21) continues the work of bringing together the various elements of Lonergan's economic thought. His economic writings span forty years and represent one of the most important intellectual achievements of the twentieth century. They have previously been inaccessible outside of the Lonergan research community as the majority of them have not been formally published, and exist only as a group of unfinished essays and material for courses on economics taught by Lonergan. Lonergan's economic ideas track a different line of thought from that taken by contemporary economists. Macroeconomic Dynamics: An Essay in Circulation Analysis represents the economic thought of Lonergan at the end of his career. His analysis, while taking a fresh look at fundamental variables, breaks from centralist theory and practice towards a radically democratic perspective on surplus income and non-political control, and explores more fully the ideas introduced in For a New Political Economy. This work will be read not only by economists but also by liberation theologians, political theologians, and others inside and outside of religious organizations interested in social justice issues and alternative approaches to economics.

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 : 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.

Complex Economic Dynamics

Richard H. Day
Complex Economic Dynamics Book PDF

Author : Richard H. Day
Publisher : Unknown
Page : 0 pages
File Size : 43,6 Mb
Release : 2000-02
Category : Ekonomi, Matematiksel
ISBN : 0262528606

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Complex Economic Dynamics by Richard H. Day Pdf

V. 1. An introduction to dynamical systems and market mechanisms -- v. 2. An introduction to macroeconomics dynamics.

Economic Growth and Macroeconomic Dynamics

Steve Dowrick,Rohan Pitchford,Stephen J. Turnovsky
Economic Growth and Macroeconomic Dynamics Book PDF

Author : Steve Dowrick,Rohan Pitchford,Stephen J. Turnovsky
Publisher : Unknown
Page : 201 pages
File Size : 50,9 Mb
Release : 2006-06-11
Category : Business & Economics
ISBN : 9780511192586

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Economic Growth and Macroeconomic Dynamics by Steve Dowrick,Rohan Pitchford,Stephen J. Turnovsky Pdf

The development of the endogenous growth model rekindled interest in growth theory. In contrast to the neo-classical model, long-run endogenous growth emerged as an equilibrium outcome, reflecting the behaviour of optimizing agents in the economy. This book brings together a number of contributions in growth theory and macroeconomic dynamics, reflecting these developments and the ongoing debate over the relative merits of neo-classical and endogenous growth models. It focuses on the emergence of three important aspects: First, it develops growth models that extend the underlying theory in different directions. Second, it addresses one of the concerns of the literature on growth and dynamics: the statistical properties of underlying data and the effort to ensure that growth models are consistent with empirical evidence. Third, it discusses the increasingly international focus of macrodynamics and growth theory, an inevitable consequence of the integration of the world economy.

Dynamic Macroeconomic Theory

Thomas J. Sargent
Dynamic Macroeconomic Theory Book PDF

Author : Thomas J. Sargent
Publisher : Harvard University Press
Page : 392 pages
File Size : 50,7 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.

Interactive Macroeconomics

Corrado Di Guilmi,Mauro Gallegati,Simone Landini
Interactive Macroeconomics Book PDF

Author : Corrado Di Guilmi,Mauro Gallegati,Simone Landini
Publisher : Cambridge University Press
Page : 307 pages
File Size : 46,8 Mb
Release : 2017-04-04
Category : Business & Economics
ISBN : 9781107198944

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Interactive Macroeconomics by Corrado Di Guilmi,Mauro Gallegati,Simone Landini Pdf

This book describes the analysis of macroeconomic agent based models using the tools of statistical mechanics.

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 : 51,8 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.

The Econometrics of Financial Markets

John Y. Campbell,Andrew W. Lo,A. Craig MacKinlay
The Econometrics of Financial Markets Book PDF

Author : John Y. Campbell,Andrew W. Lo,A. Craig MacKinlay
Publisher : Princeton University Press
Page : 630 pages
File Size : 48,6 Mb
Release : 2012-06-28
Category : Business & Economics
ISBN : 9781400830213

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The Econometrics of Financial Markets by John Y. Campbell,Andrew W. Lo,A. Craig MacKinlay Pdf

The past twenty years have seen an extraordinary growth in the use of quantitative methods in financial markets. Finance professionals now routinely use sophisticated statistical techniques in portfolio management, proprietary trading, risk management, financial consulting, and securities regulation. This graduate-level textbook is intended for PhD students, advanced MBA students, and industry professionals interested in the econometrics of financial modeling. The book covers the entire spectrum of empirical finance, including: the predictability of asset returns, tests of the Random Walk Hypothesis, the microstructure of securities markets, event analysis, the Capital Asset Pricing Model and the Arbitrage Pricing Theory, the term structure of interest rates, dynamic models of economic equilibrium, and nonlinear financial models such as ARCH, neural networks, statistical fractals, and chaos theory. Each chapter develops statistical techniques within the context of a particular financial application. This exciting new text contains a unique and accessible combination of theory and practice, bringing state-of-the-art statistical techniques to the forefront of financial applications. Each chapter also includes a discussion of recent empirical evidence, for example, the rejection of the Random Walk Hypothesis, as well as problems designed to help readers incorporate what they have read into their own applications.

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 : 45,5 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.

Macroeconomic Dynamics

Bernard J. F. Lonergan,Frederick E. Crowe,Robert M. Doran,Lonergan Research Institute
Macroeconomic Dynamics Book PDF

Author : Bernard J. F. Lonergan,Frederick E. Crowe,Robert M. Doran,Lonergan Research Institute
Publisher : University of Toronto Press
Page : 308 pages
File Size : 49,5 Mb
Release : 1988-01-01
Category : Business & Economics
ISBN : 0802081959

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Macroeconomic Dynamics by Bernard J. F. Lonergan,Frederick E. Crowe,Robert M. Doran,Lonergan Research Institute Pdf

Macroeconomic Dynamics represents the economic thought of Lonergan at the end of his career. His analysis breaks from centralist theory and practice towards a radically democratic perspective on surplus income and non-political control, and explores more fully the ideas introduced in For a New Political Economy.

The ABCs of RBCs

George McCandless
The ABCs of RBCs Book PDF

Author : George McCandless
Publisher : Harvard University Press
Page : 448 pages
File Size : 53,5 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.

Micro-, Meso- and Macro-Dynamics of the Brain

György Buzsáki,Yves Christen
Micro Meso and Macro Dynamics of the Brain Book PDF

Author : György Buzsáki,Yves Christen
Publisher : Springer
Page : 181 pages
File Size : 50,6 Mb
Release : 2016-05-02
Category : Medical
ISBN : 9783319288024

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Micro-, Meso- and Macro-Dynamics of the Brain by György Buzsáki,Yves Christen Pdf

This book brings together leading investigators who represent various aspects of brain dynamics with the goal of presenting state-of-the-art current progress and address future developments. The individual chapters cover several fascinating facets of contemporary neuroscience from elementary computation of neurons, mesoscopic network oscillations, internally generated assembly sequences in the service of cognition, large-scale neuronal interactions within and across systems, the impact of sleep on cognition, memory, motor-sensory integration, spatial navigation, large-scale computation and consciousness. Each of these topics require appropriate levels of analyses with sufficiently high temporal and spatial resolution of neuronal activity in both local and global networks, supplemented by models and theories to explain how different levels of brain dynamics interact with each other and how the failure of such interactions results in neurologic and mental disease. While such complex questions cannot be answered exhaustively by a dozen or so chapters, this volume offers a nice synthesis of current thinking and work-in-progress on micro-, meso- and macro- dynamics of the brain.

Macroeconomic Dynamics

Keizo Nagatani
Macroeconomic Dynamics Book PDF

Author : Keizo Nagatani
Publisher : Cambridge University Press
Page : 272 pages
File Size : 47,6 Mb
Release : 1981-10-30
Category : Business & Economics
ISBN : 0521235154

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Macroeconomic Dynamics by Keizo Nagatani Pdf

This presentation of advanced macroeconomics emphasizes the dynamic behaviour of the economy. Developed capitalist economies are characterized by large stocks of durable goods and the intertemporal nature of economic decisions that these involve. Such intertemporal decisions based on expectations about an uncertain future are the main sources of mistakes and consequent economic fluctuations. In this book, therefore, macroeconomic theory and policy are viewed as applications of capital theory. Professor Nagatani traces the early contributions to this viewpoint and critically surveys the modern literature. To aid the reader, a lucid exposition of dynamic optimization is provided before the theory is developed analytically. The framework employed has novel aspects and captures the chief characteristics of advanced economies. The analysis is used to draw out broad policy conclusions. This book is suitable for advanced students, for whom examples are provided at the end of chapters. However, the perspective offers much to interest specialists also.