Cover: Introduction to Dynamic Macroeconomic Theory in HARDCOVER

Introduction to Dynamic Macroeconomic Theory

An Overlapping Generations Approach

Add to Cart

Product Details

HARDCOVER

$90.00 • £72.95 • €81.00

ISBN 9780674461116

Publication Date: 01/01/1992

Short

384 pages

6-1/8 x 9-1/4 inches

illustrations

World

Economies are constantly in flux, and economists have long sought reliable means of analyzing their dynamic properties. This book provides 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 fully 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 modeling 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.

Introduction to Dynamic Macroeconomic Theory will become a classic of economic exposition and a standard teaching and reference tool for intertemporal macroeconomics and the overlapping generations model. The writing is exceptionally clear. 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.

From Our Blog

Jacket: The Coming Good Society: Why New Realities Demand New Rights, by William F. Schulz and Sushma Raman, from Harvard University Press

Q&A with William F. Schulz and Sushma Raman, authors of The Coming Good Society: Why New Realities Demand New Rights

As times change so must we as a society, and that includes our conception of rights, say William F. Schulz and Sushma Raman, whose new book, The Coming Good Society: Why New Realities Demand New Rights, came out just as Black Lives Matter protesters filled the streets this summer. We spoke with them about the current view—and the future—of human rights. How do you understand the purpose of rights? What function do they serve in a society?