LECTURES ON DYNAMIC MACROECONOMICS

This book provides an introduction to the study of dynamic general equilibrium economic models: time can either be modelled in a discrete or continuous fashion, and the environment may be either deterministic or stochastic — this generality accommodates both business cycle and economic growth modelling.

The purpose of the book is to teach first the tools employed in modern macroeconomic theory and second the topics most often encountered in macroeconomic debate. While the focus of the textbook is on macroeconomic modelling, the tools that are employed can also be applied to other fields in economics; for example, natural resource and environmental economics and industrial organization. Throughout the text the reader is exposed to both methodology and applications — the scope and reach of a reader's own modelling is of course entirely a function of her own ingenuity with economic questions of interest.

Contents:

• Preface
• About the Authors
• Introduction
• The Tools of the Trade:
  • Deterministic Dynamics
  • Stochastic Dynamics
• Topics in Aggregate Economics:
  • Exogenous Growth
  • Endogenous Growth
  • Real Business Cycles
  • New Keynesian Models
  • Asset Pricing
  • Overlapping Generations Models
  • Heterogeneous-Agent Models

Readership: Graduate and advanced undergraduate students in Macroeconomics; researchers and practitioners in the fields of Theoretical and Applied Macroeconomics and Computational Economics.