Topics in applied macrodynamic theory
type: Item
instance of: scholarly article
title: Topics in applied macrodynamic theory
zbMATH Open document ID: 1155.91024
author: Peter Flaschel
author: Gangolf Groh
author: Willi Semmler
author: Christian R. Proaño
published in: Dynamic Modeling and Econometrics in Economics and Finance
publication date: 2008-07-23T00:00:00Z
review text: Publisher's description: The 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. They start from the closed economy and consider open economies for fixed and flexible exchange rate systems with free international capital flows later on. The dynamics of open economies in the context of interacting two country models are treated as well. The macrofounded approach extends and integrates non-market-clearing traditions in macrodynamics. It is compared to New Keynesian approaches which are generally rigorously microfounded, but often neglect to study macroeconomic feedback mechanisms (that may be stabilizing or destabilizing).
reviewed by: Elena Ya. Gorelova
Mathematics Subject Classification ID: 91B64
Mathematics Subject Classification ID: 91-02
zbMATH DE Number: 5303522
zbMATH Keywords: macro-economic models
zbMATH Keywords: Keynesian macrodynamics
zbMATH Keywords: econometrics
MaRDI profile type: Publication
description: scientific article; zbMATH DE number 5303522