Topics in Applied Macrodynamic Theory

Presents topics in applied dynamic macrotheory for closed and open economies. This book gives 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.

This insightful 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. The dynamics of open economies in the context of interacting two country models are treated as well.

Period Models, Continuous Time and Applied Macrodynamics. The Closed Economy: The AS-AD Framework: Origins, Problems and Progress.- Wage-Price Dynamics: Basic Structural Form, Estimation and Analysis.- Estimation and Analysis of an Extenden AD-AS Model.- Linking Goods with Labor Markets: Okun's Law and Beyond. The Open Economy: Exchange Rate and Stock Market Dynamics in a Two-Country Model.- Macroeconomic Imbalance and Inflation Dynamics in a Mundell-Fleming-Tobin Framework.- Currency Crises, Credit Rationing and Monetary Policy in Emerging Markets.- Keynesian Dynamics and International Linkages in a Two-Country Model.- Outlook: Supply Constraints in Demand-Driven Macromodels.- Mathematical Appendix: Some Useful Theorems.