Methods of Macroeconomic Dynamics
2nd Revised edition
By (author) Stephen J. Turnovsky
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Methods of Macroeconomic Dynamics by Stephen J. Turnovsky
Book DescriptionJust 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 The book includes cutting-edge research and unpublished data, including much of the author's own work.
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Book DetailsISBN: 9780262201230
(229mm x 178mm x 35mm)
Imprint: MIT Press
Publisher: MIT Press Ltd
Publish Date: 1-Mar-2000
Country of Publication: United States
Books By Author Stephen J. Turnovsky
Capital Accumulation and Economic Growth in a Small Open Economy, Paperback (February 2011)
An investigation of the process of economic growth in a small open economy by one of the world's leading economists.
Economic Growth and Macroeconomic Dynamics, Paperback (January 2008)
This book brings together a number of contributions in growth theory and macroeconomic dynamics.
Inequality and Growth, Paperback (March 2007)
Essays exploring the relationship between economic growth and inequality and the implications for policy makers.
Advances in Economics and Econometrics, Hardback (January 2003)» View all books by Stephen J. Turnovsky
This volume contains recent surveys of the most important topics in economics.
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Author Biography - Stephen J. Turnovsky
Stephen J. Turnovsky is Professor of Economics at the University of Washington.
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