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Dynamic Modeling and Econometrics in Economics and Finance

Topics in Applied Macrodynamic Theory

Authors: Flaschel, P., Groh, G., Proano, C., Semmler, W.

  • Presents advanced quantitative apporaches to dynamic macromodeling
  • Gives insight into the working and interaction of macrodynamic feedback channels
  • Offers theoretical, empirical and numerical treatment of small and large macromodels
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eBook $179.00
price for USA in USD (gross)
  • ISBN 978-3-540-72542-8
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $229.00
price for USA in USD
  • ISBN 978-3-540-72541-1
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $229.00
price for USA in USD
  • ISBN 978-3-642-09158-2
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

This book presents topics in applied dynamic macrotheory for closed and open economies. The authors give an advanced treatment of macroeconomic topics such as the Phillips curve, forward and backward looking behavior, open economy macrodynamics, structural macroeconometric model building as well as the empirics of Keynesian oriented macro models. They start from the closed economy and consider open economies for fixed and flexible exchange rate systems with free international capital flows later on. The dynamics of open economies in the context of interacting two country models are treated as well. The macrofounded approach extends and integrates non-market-clearing traditions in macrodynamics. It is compared to New Keynesian approaches which are generally rigorously microfounded, but often neglect to study macroeconomic feedback mechanisms (that may be stabilizing or destabilizing).

The chapters - though representing a coherent whole - are self-contained and can be used independently of each other.

Tired of RAIOM (Rational Agent Intertemporally Optimizing Model)? Then this is the book for you, a book on macroeconomics in the Keynesian (without any New-, Post-, Neo-, or other prefix) tradition. Fan of RAIOM? Then this is the book for you, it shows how it is possible to study dynamics without jumping on stable arms (or manifolds). A bonus is the econometric study of the theories set forth by the authors. All (macro)economists should read this book.
Professor Giancarlo Gandolfo, University of Rome "La Sapienza"

... The authors succeed in providing substantial insight into macroeconomic models. Both the models and the analysis of actual references cited are alone worthy of attention. This text is worthy of substantial effort to absorb and master its insights; not a book to be neglected or casually read.
Professor James B. Ramsey, New York University

Table of contents (10 chapters)

  • Period Models, Continuous Time and Applied Macrodynamics

    Pages 1-32

  • The AS–AD Framework: Origins, Problems and Progress

    Pages 35-89

  • Wage–Price Dynamics: Basic Structural Form, Estimation and Analysis

    Pages 91-136

  • Estimation and Analysis of an Extended AD–AS Model

    Pages 137-212

  • Linking Goods with Labor Markets: Okun’s Law and Beyond

    Pages 213-283

Buy this book

eBook $179.00
price for USA in USD (gross)
  • ISBN 978-3-540-72542-8
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $229.00
price for USA in USD
  • ISBN 978-3-540-72541-1
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $229.00
price for USA in USD
  • ISBN 978-3-642-09158-2
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Topics in Applied Macrodynamic Theory
Authors
Series Title
Dynamic Modeling and Econometrics in Economics and Finance
Series Volume
10
Copyright
2008
Publisher
Springer-Verlag Berlin Heidelberg
Copyright Holder
Springer-Verlag Berlin Heidelberg
eBook ISBN
978-3-540-72542-8
DOI
10.1007/978-3-540-72542-8
Hardcover ISBN
978-3-540-72541-1
Softcover ISBN
978-3-642-09158-2
Series ISSN
1566-0419
Edition Number
1
Number of Pages
XX, 512
Number of Illustrations
94 b/w illustrations
Topics