Dynamic macroeconomics : instability, fluctuation, and growth in monetary economies / Peter Flaschel, Reiner Franke, Willi Semmler.

Format:

Book

Author/Creator:

Flaschel, Peter, 1943-

Contributor:

Franke, Reiner.

Semmler, Willi.

Series:

Studies in dynamical economic science

Language:

English

Subjects (All):

Equilibrium (Economics).

Econometrics.

Physical Description:

xiii, 455 pages : illustrations ; 24 cm.

Place of Publication:

Cambridge, Mass. ; London : MIT Press, [1997]

Summary:

"Dynamic Macroeconomics" is an attempt to revitalize the traditions of nonmarket clearing approaches to macroeconomics. Using sophisticated tools from dynamic analysis, the authors introduce a consistent, integrated framework for disequilibrium macroeconomic dynamics and explore its relationship to the competing--and currently dominant--equilibrium dynamics. The book is organized into five parts. Part I covers background models of market-clearing and nonmarket-clearing approaches. Part II introduces short-run monetary models of macroeconomic fluctuations that build on the dynamic interaction of product, labor, and financial markets. Part III explores monetary instability in variants with capital accumulation and growth. Part IV explores supply and demand side Keynesian business cycles and monetary-type growth models. Part V considers the role of the financial sector as a source of instability and fluctuations.

Notes:

Includes bibliographical references (pages [427]-445) and index.

ISBN:

0262061910

OCLC:

35842577