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Book synopsis

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.

Book details

Book category Books in English Economics, finance, business & management Economics Economic theory & philosophy

• Full title: Topics in Applied Macrodynamic Theory
• Author: Peter Flaschel, Gangolf Groh, Christian Proa, Willi Semmler
• Language: English
• Binding: Hardback
• Number of pages: 512
• EAN: 9783540725411
• ISBN: 3540725415
• ID: 01568572
• Publisher: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
• Weight: 2040 g
• Dimensions: 235 × 155 × 33 mm
• Date of publishing: 14. August 2008

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