Dynamic Macroeconomic Analysis Theory and Policy in General Equilibrium Altug

Dynamic Macroeconomic AnalysisTheory and Policy in General Equilibrium\nAuthor(s): Sumru Altug, Jagjit S. Chadha, Charles Nolan\nFormat: Hardback\nPublisher: Cambridge University Press, United Kingdom\nImprint: Cambridge University Press\nISBN-13: 9780521826686, 978-0521826686\nSynopsis\nDynamic stochastic general equilibrium (DSGE) models have begun to dominate the field of macroeconomic theory and policy-making. These models describe the evolution of macroeconomic activity as a recursive sequence of outcomes based upon the optimal decision rules of rational households, firms and policy-makers. Whilst posing a micro-founded dynamic optimisation problem for agents under uncertainty, such models have been shown to be both analytically tractable and sufficiently rich for meaningful policy analysis in a wide class of macroeconomic problems, for example, monetary and fiscal policy, economic cycles and growth and capital flows. This volume collects specially commissioned papers from leadi.