Methods of Macroeconomic Dynamics
“Methods of Macroeconomic Dynamics” by Stephen J. Turnovsky, published by MIT Press in 1995, spans 535 pages and is presented in English. This text encapsulates Turnovsky’s significant contributions to intertemporal general equilibrium macroeconomics, distinguishing itself through its focus on rational expectations methods and a thorough analysis of policy issues across various models.
Readers will encounter a comprehensive exploration of dynamic modeling tailored for first- and second-year graduate students, emphasizing key macroeconomic models drawn from both historical and contemporary research. The book delves into the application of dynamic modeling to assess the impact of policy on economic growth and performance, with substantial sections dedicated to rational expectations models and the representative agent model in continuous time. Additionally, professionals will find this work valuable as a reference, providing insights into the evolution of macroeconomic dynamics and detailed explanations of advanced dynamic models.
Official synopsis Publisher
Stephen Turnovsky has made numerous important contributions to the field of intertemporal general equilibrium macroeconomics. This new text contains the core of his work and stands apart from other related texts in its treatment of rational expectations methods and its rigorous analysis of policy issues, an overarching concern that runs through the different models.
“Methods of Macroeconomic Dynamics” provides a comprehensive treatment of dynamic modeling for first- and second-year graduate students. It focuses on certain key macroeconomic models — selected from early as well as recent research – to teach students how dynamic modeling is used to analyze the effects of policy on economic growth and performance. Large portions of the text are devoted to rational expectations models and to the representative agent model in continuous time. Professionals will find the book useful as a reference that offers both a broad overview of the evolution of methods of macroeconomic dynamics and a detailed explanation of the technical aspects of the most recent dynamic models.
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