Post Walrasian Macroeconomics Beyond the Dynamic Stochastic General Equilibrium Model
Post Walrasian Macroeconomics Beyond the Dynamic Stochastic General Equilibrium Model by David Colander, published by Cambridge University Press on July 17, 2006, spans 438 pages and is presented in English. This book explores the evolving landscape of macroeconomics, focusing on a new synthesis that integrates insights from various economic traditions into a dynamic, stochastic general equilibrium (DSGE) model. It highlights the emergence of a new antithesis driven by advancements in computing and analytical techniques, providing a framework for understanding macroeconomic policy.
Readers will find an introduction to what is termed a Post Walrasian research program, which contrasts with the traditional Walrasian DSGE synthesis. The text delves into developments in complexity theory, automated econometric modeling, and agent-based models, among other topics. This edition serves as a resource for those interested in the intersection of macroeconomics and modern analytical methods, offering insights into the ongoing evolution of economic theory and practice.
Official synopsis Publisher
Macroeconomics is evolving in an almost dialectic fashion. The latest evolution is the development of a new synthesis that combines insights of new classical, new Keynesian and real business cycle traditions into a dynamic, stochastic general equilibrium (DSGE) model that serves as a foundation for thinking about macro policy. That new synthesis has opened up the door to a new antithesis, which is being driven by advances in computing power and analytic techniques. This new synthesis is coalescing around developments in complexity theory, automated general to specific econometric modeling, agent-based models, and non-linear and statistical dynamical models. This book thus provides the reader with an introduction to what might be called a Post Walrasian research program that is developing as the antithesis of the Walrasian DSGE synthesis.
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