Introduction to Dynamic Macroeconomic Theory by George T. McCandless
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Introduction to Dynamic Macroeconomic Theory
By George T. McCandless

Introduction to Dynamic Macroeconomic Theory

An Overlapping Generations Approach

By (author) See other recent books by George T. McCandless See other recent books by Neil Wallace
Format: Hardback

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Introduction to Dynamic Macroeconomic Theory by George T. McCandless

Book Description

Economies are constantly in flux, and economists have long sought reliable means of analyzing their dynamic properties. This book aims to provide 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 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 modelling 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. 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.

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Book Details

ISBN: 9780674461116
ISBN-10: 0674461118
Format: Hardback
(235mm x 155mm x 28mm)
Pages: 384
Imprint: Harvard University Press
Publisher: Harvard University Press
Publish Date: 3-Feb-1992
Country of Publication: United States

Books By Author George T. McCandless

ABCs of RBCs by George T. McCandless ABCs of RBCs, Hardback (March 2008)

Offers an introduction to Real Business Cycle (RBC) and New-Keynesian models. This book teaches economic practitioners or students how to build RBC models. It also provides Matlab code for solving many of the models.

» View all books by George T. McCandless

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Author Biography - George T. McCandless

George McCandless is an economist at the Central Bank of Argentina.

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