Title
Dynamic Macroeconomic Theory,New
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The tasks of macroeconomics are to interpret observations on economic aggregates in terms of the motivations and constraints of economic agents and to predict the consequences of alternative hypothetical ways of administering government economic policy. General equilibrium models form a convenient context for analyzing such alternative government policies. In the past ten years, the strengths of general equilibrium models and the corresponding deficiencies of Keynesian and monetarist models of the 1960s have induced macroeconomists to begin applying general equilibrium models.This book describes some general equilibrium models that are dynamic, that have been built to help interpret timeseries of observations of economic aggregates and to predict the consequences of alternative government interventions. The first part of the book describes dynamic programming, search theory, and real dynamic capital pricing models. Among the applications are stochastic optimal growth models, matching models, arbitrage pricing theories, and theories of interest rates, stock prices, and options. The remaining parts of the book are devoted to issues in monetary theory; currencyinutilityfunction models, cashinadvance models, Townsend turnpike models, and overlapping generations models are all used to study a set of common issues. By putting these models to work on concrete problems in exercises offered throughout the text, Thomas Sargent provides insights into the strengths and weaknesses of these models of money. An appendix on functional analysis shows the unity that underlies the mathematics used in disparate areas of rational expectations economics.This book on dynamic equilibrium macroeconomics is suitable for graduatelevel courses; a companion book, Exercises in Dynamic Macroeconomic Theory, provides answers to the exercises and is also available from Harvard University Press.
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We provide a 2-year limited warranty, from the date of purchase for all our products.
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This warranty strictly does not cover damages that arose from negligence, misuse, wear and tear, or not in accordance with product instructions (dropping the product, etc.).
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Frequently Asked Questions
- Q: What is the main focus of 'Dynamic Macroeconomic Theory'? A: The book focuses on using general equilibrium models to analyze economic aggregates and predict outcomes of various government policies.
- Q: Who is the author of this book? A: The author of 'Dynamic Macroeconomic Theory' is Thomas J. Sargent.
- Q: What type of binding does this book have? A: This book is available in a hardcover binding.
- Q: How many pages does 'Dynamic Macroeconomic Theory' contain? A: The book contains a total of 384 pages.
- Q: Is 'Dynamic Macroeconomic Theory' suitable for undergraduate students? A: No, this book is more suitable for graduate-level courses in macroeconomics.
- Q: What edition of the book is available? A: The available edition is the 5th printing of 'Dynamic Macroeconomic Theory'.
- Q: What are some key topics covered in this book? A: Key topics include dynamic programming, search theory, real dynamic capital pricing models, and various monetary theories.
- Q: When was 'Dynamic Macroeconomic Theory' published? A: The book was published in February 1987.
- Q: What condition is the book in? A: The book is listed as 'Used Book in Good Condition'.
- Q: Is there a companion book available for this title? A: Yes, a companion book titled 'Exercises in Dynamic Macroeconomic Theory' is also available.