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Methods of Macroeconomic Dynamics - 2nd Edition, by Stephen J. Turnovsky
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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 The book includes cutting-edge research and unpublished data, including much of the author's own work.
- Sales Rank: #1624335 in Books
- Published on: 2000-01-24
- Original language: English
- Number of items: 1
- Dimensions: 9.00" h x 1.40" w x 7.00" l, 2.73 pounds
- Binding: Hardcover
- 687 pages
About the Author
Stephen J. Turnovsky is Professor of Economics at the University of Washington.
Most helpful customer reviews
3 of 26 people found the following review helpful.
Methods of Macroeconomic Dynamics
By Leandro Irigoyen
Very good Book. Is easy and usefull to read. I recommend read it.
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