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基本説明
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Full Description
International Macroeconomic Dynamics provides extensive applications of important macroeconomic dynamic models to the international economy.For a long time, the study of macroeconomics has focused almost exclusively on a closed economy and downplayed the role of international transactions. Today, however, researchers recognize that one cannot fully understand domestic macroeconomic relationships without considering the global economy within which each country operates. Increasingly, economists are treating international transactions as an integral part of the macroeconomic system, and international macroeconomics has become an area of intensive research activity. International Macroeconomic Dynamics provides extensive applications of important macroeconomic dynamic models to the international economy. It adopts the main contemporary macroeconomic framework, the representative agent model, and develops a series of models of increasing complexity. The author considers both small and large economies and analyzes them in both deterministic and stochastic contexts. The emphasis is very much on the development of the analytical models; a novel feature is the extensive use of continuous-time stochastic methods. While the author applies the models to a range of important policy issues, particularly issues of fiscal policy, the reader is invited to view the analyses as blueprints for other applications.
Contents
Part 1 Small open economymodels of capital accumulation; two-sector models; capital accumulation and long-run growth. Part 2 Two-country models: fiscal policy in a two-country world economy; relative price adjustments in two-country models; strategic behaviour in the world economy. Part 3 Stochastic growth models: stochastic growth in a small open economy; a stochastic monetary growth model and financial policy; stochastic growth in the world economy.
