Download or read book Intertemporal Macroeconomics written by Michael Carlberg and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is concerned with the long-run effects of budgetary and financial policy on aggregate demand and supply. Here the long run is characterized by the accumulation of public debt and foreign assets. This gives rise to a number of questions. Will the long-run equilibrium be stable? What does long-run instability imply? Is the long-run multiplier smaller than the short-run multiplier? Can the long-run multiplier become negative? This book takes a new approach to macroeconomic policy. It assumes a growing economy, as opposed to a stationary economy. And it assumes that the government fixes the deficit rate, as opposed to the tax rate. It is argued that economic growth is an important factor of long-run stability. Similarly, it is argued that a fixed deficit rate is an important factor of long-run stability.

Download or read book Intertemporal Macroeconomic Models Money and Regional Choice written by G. Chirichiello and published by Springer. This book was released on 2000-05-23 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: Intertemporal macroeconomics links microeconomics and growth theory methods. The effects of policies are examined as the dynamic interaction between decisions of agents and policy interventions. The book explores the two basic approaches of models of infinitely-lived agents (Cass-Ramsey-Koopmans approach) and models of overlapping-generations (Allais-Fisher-Samuelson approach). Controversial questions concerning monetary models and monetary policies are also considered in a systematic way. The book also introduces both real models and monetary models of endogenous growth.

Download or read book Intertemporal Substitution in Macroeconomics written by N. Gregory Mankiw and published by . This book was released on 1982 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern neoclassical theories of the business cycle posit that aggregate fluctuations in consumption and employment are the consequence of dynamic optimizing behavior by economic agents who face no quantity constraint. In this paper, we estimate an explicit model :f this type. In particular, we assume that the observed fluctuations correspond to the decisions of an optimizing representative individual. This individual has a stable utility function which is additively separable over time but not necessarily additively separable in consumption and leisure. We estimate three first order conditions which represent three margins on which the individual is optimizing. He can trade off present consumption for future consumption, present leisure for future leisure and present consumption for present leisure. Our results show that the aggregate U.S. data are extremely reluctant to be characterized by a model of this type. Not only are the overidentifying restrictions statistically rejected but, in addition, the estimated utility function is often not concave. Even when it is concave the estimates imply that either consumption or leisure is an inferior good.

Download or read book Intertemporal Macroeconomics written by Costas Azariadis and published by . This book was released on 1993 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Intertemporal Planning Exchange and Macroeconomics written by David Fokke Ihno Folkerts-Landau and published by Cambridge University Press. This book was released on 1982-07-30 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study attempts to provide modern macroeconomic analysis with a foundation in macroeconomic and general equilibrium theory.

Download or read book Intertemporal Macroeconomic Models Money and Regional Choice written by G. Chirichiello and published by Palgrave Macmillan. This book was released on 2000-09-29 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Intertemporal macroeconomics links microeconomics and growth theory methods. The effects of policies are examined as the dynamic interaction between decisions of agents and policy interventions. The book explores the two basic approaches of models of infinitely-lived agents (Cass-Ramsey-Koopmans approach) and models of overlapping-generations (Allais-Fisher-Samuelson approach). Controversial questions concerning monetary models and monetary policies are also considered in a systematic way. The book also introduces both real models and monetary models of endogenous growth.

Download or read book Intertemporal Substitution in MacRoeconomics written by N. Gregory Mankiw and published by Hardpress Publishing. This book was released on 2013-12 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Unlike some other reproductions of classic texts (1) We have not used OCR(Optical Character Recognition), as this leads to bad quality books with introduced typos. (2) In books where there are images such as portraits, maps, sketches etc We have endeavoured to keep the quality of these images, so they represent accurately the original artefact. Although occasionally there may be certain imperfections with these old texts, we feel they deserve to be made available for future generations to enjoy.

Download or read book Intertemporal Substitution in Macroeconomics Classic Reprint written by N. Gregory Mankiw and published by . This book was released on 2015-08-05 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Intertemporal Substitution in Macroeconomics Modern neoclassical theories of the business cycle posit that aggregate fluctuations in consumption and employment are the consequence of dynamic optimizing behavior by economic agents who face no quantity constraint. In this paper, we estimate an explicit model of this type. In particular, we assume that the observed fluctuations correspond to the decisions of an optimizing representative individual. This individual has a stable utility function which is additively separable over time but not necessarily additively separable in consumption and leisure. We estimate three first order conditions which represent three margins on which the individual is optimizing. He can trade off present consumption for future consumption, present leisure for future leisure and present consumption for present leisure. Our results show that the aggregate U.S. data are extremely reluctant to be characterized by a model of this type. Not only are the overidentifying restrictions statistically rejected but, In addition, the estimated utility function is often not concave. Even when it is concave the estimates imply that either consumption or leisure is an inferior good. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Download or read book Intertemporal and Strategic Modelling in Economics written by Orlando Gomes and published by Springer Nature. This book was released on 2022-08-17 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook introduces readers to essential tools, techniques and methods for intertemporal and strategic modeling in economics. It presents a variety of analytical models covering both dynamic processes and strategic interaction. Students will learn the basic mechanisms associated with the intertemporal approach, on the one hand, and game theory, i.e., the strategic approach, on the other. In addition, a wide range of applications are explored, including growth models, labor markets, international trade, and individual decision-making. Intended for upper undergraduate and graduate students in economics and related fields with a background in mathematics and calculus, this textbook provides a comprehensive introduction to economic modeling and its applications. By avoiding excessive formalism and exploring straightforward examples and applications, it is optimally suited for graduate courses in economics and finance.

Download or read book Applied Intertemporal Optimization written by Klaus Wälde and published by Klaus Wälde. This book was released on 2012 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Intertemporal Substitution in Macroeconomics written by Lawrence H. Summers and published by . This book was released on 1986 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern neoclassical theories of the business cycle posit that aggregate fluctuations in consumption and employment are the consequence of dynamic optimizing behavior by economic agents who face no quantity constraint. In this paper, we estimate an explicit model :f this type. In particular, we assume that the observed fluctuations correspond to the decisions of an optimizing representative individual. This individual has a stable utility function which is additively separable over time but not necessarily additively separable in consumption and leisure. We estimate three first order conditions which represent three margins on which the individual is optimizing. He can trade off present consumption for future consumption, present leisure for future leisure and present consumption for present leisure. Our results show that the aggregate U.S. data are extremely reluctant to be characterized by a model of this type. Not only are the overidentifying restrictions statistically rejected but, in addition, the estimated utility function is often not concave. Even when it is concave the estimates imply that either consumption or leisure is an inferior good

Download or read book Exercises in Intertemporal Open Economy Macroeconomics written by Thomas H. Krueger and published by MIT Press. This book was released on 1997 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: This exercise manual has been revised to be a companion volume to the third edition of "Fiscal Policies and the World Economy" by Jacob Frenkel and Assaf Razin. It includes new material on endogenous growth, convergence, and an extension of the Mundell-Flemming model.

Download or read book Intertemporal Macroeconomics Models Money and Rational Choices written by Giuseppe Chirichiello and published by . This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Dynamic Macroeconomics written by George Alogoskoufis and published by MIT Press. This book was released on 2019-12-17 with total page 801 pages. Available in PDF, EPUB and Kindle. Book excerpt: An advanced treatment of modern macroeconomics, presented through a sequence of dynamic equilibrium models, with discussion of the implications for monetary and fiscal policy. This textbook offers an advanced treatment of modern macroeconomics, presented through a sequence of dynamic general equilibrium models based on intertemporal optimization on the part of economic agents. The book treats macroeconomics as applied and policy-oriented general equilibrium analysis, examining a number of models, each of which is suitable for investigating specific issues but may be unsuitable for others. After presenting a brief survey of the evolution of macroeconomics and the key facts about long-run economic growth and aggregate fluctuations, the book introduces the main elements of the intertemporal approach through a series of two-period competitive general equilibrium models—the simplest possible intertemporal models. This sets the stage for the remainder of the book, which presents models of economic growth, aggregate fluctuations, and monetary and fiscal policy. The text focuses on a full analysis of a limited number of key intertemporal models, which are stripped down to essentials so that students can focus on the dynamic properties of the models. Exercises encourage students to try their hands at solving versions of the dynamic models that define modern macroeconomics. Appendixes review the main mathematical techniques needed to analyze optimizing dynamic macroeconomic models. The book is suitable for advanced undergraduate and graduate students who have some knowledge of economic theory and mathematics for economists.

Download or read book Intertemporal Substitution in Consumption Revisited written by Zuliu Hu and published by International Monetary Fund. This book was released on 1993-03 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some of the highly controversial questions in macroeconomics critically hinge on the value of a single parameter of consumer preference--the elasticity of intertemporal substitution. This paper provides new estimates of this parameter for individual G-7 and a panel of twenty OECD countries. We find that single equation GMM estimates are typically small and imprecise, consistent with Hall’s (1988) finding from the U.S. data. Estimation of a system of equations that takes into account the cross-equation restrictions implied by theory, however, generally gives larger and better determined values for the parameter. The panel procedure also yields relatively large estimates. Overall our multi-country results contradict the hypothesis of zero intertemporal substitution.

Download or read book Macroeconomics written by Robert J. Rossana and published by Routledge. This book was released on 2011-02-25 with total page 682 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research in macroeconomics in the last thirty years has featured, almost exclusively on two characteristics: an emphasis on the microfoundations of macroeconomics and secondly, intertemporal economics, that is, the behavior of economic actors over time. Curiously, textbooks in intermediate macroeconomics have been very slow to adopt these traits. The aim of this book is to bring intermediate instruction in macroeconomics fully into line with the direction taken by the research community. Key hallmarks of the text include: a full introduction to the microfoundations of consumption and investment a complete model of the labor market with profit maximization for firms to determine labor demand and a utility maximization model to determine labor supply an analysis of the Baumol-Tobin model to determine money demand accompanied by a discussion of traditional money supply Possessing a full range of additional learning features including a companion website, test bank and instructor’s manual, the book takes an international view of macroeconomics with case studies and examples from the United States and beyond.

Download or read book International Macroeconomics written by Stephanie Schmitt-Grohé and published by Princeton University Press. This book was released on 2022-09-06 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt: An essential introduction to one of the most timely and important subjects in economics International Macroeconomics presents a rigorous and theoretically elegant treatment of real-world international macroeconomic problems, incorporating the latest economic research while maintaining a microfounded, optimizing, and dynamic general equilibrium approach. This one-of-a-kind textbook introduces a basic model and applies it to fundamental questions in international economics, including the determinants of the current account in small and large economies, processes of adjustment to shocks, the determinants of the real exchange rate, the role of fixed and flexible exchange rates in models with nominal rigidities, and interactions between monetary and fiscal policy. The book confronts theoretical predictions using actual data, highlighting both the power and limits of given theories and encouraging critical thinking. Provides a rigorous and elegant treatment of fundamental questions in international macroeconomicsBrings undergraduate and master’s instruction in line with modern economic researchFollows a microfounded, optimizing, and dynamic general equilibrium approachAddresses fundamental questions in international economics, such as the role of capital controls in the presence of financial frictions and balance-of-payments crisesUses real-world data to test the predictions of theoretical modelsFeatures a wealth of exercises at the end of each chapter that challenge students to hone their theoretical skills and scrutinize the empirical relevance of modelsAccompanied by a website with lecture slides for every chapter