Models for Dynamic Macroeconomics

ISBN: 9780199228324 出版年：2005 页码：290 Bagliano, Fabio-Cesare Bertola, Giuseppe Oxford University Press

Preface 1. Dynamic Consumption Theory 1.1 Permanent Income and Optimal Consumption 1.2 Empirical Issues 1.3 The Role of Precautionary Saving 1.4 Consumption and Financial Returns Appendix A1: Dynamic Programming Review Exercises Further Reading References 2. Dynamic Models of Investment 2.1 Convex Adjustment Costs 2.2 Continuous-Time Optimization 2.3 Steady-State and Adjustment Paths 2.4 The Value of Capital and Future Cash Flows 2.5 Average Value Capital 2.6 A Dynamic IS-LM Model 2.7 Linear Adjustment Costs 2.8 Irreversible Investment Under Certainty Appendix A2: Hamiltonian Optimization Methods Review Exercises Further Readings References 3. Adjustment Costs in the Labor Market 3.1 Hiring and Firing Costs 3.2 The Dynamics of Employment 3.3 Average Long-Run Effects 3.4 Adjustment Costs and Labor Allocation Appendix A3: (Two-State) Markov Processes Review Exercises Further Reading References 4. Growth in Dynamic General Equilibrium 4.1 Production, Savings, and Growth 4.2 Dynamic Optimization 4.3 Decentralized Production and Investment Decisions 4.4 Measurement of "Progress": the Solow Residual 4.5 Endogenous Growth and Market Imperfections Review Exercises Further Exercises References 5. Coordination and Externalities in Macroeconomics 5.1 Trading Externalities and Multiple Equilibria 5.2 A Search Model of Money 5.3 Search Externalities in the Labor Market 5.4 Dynamics 5.5 Externalities and Efficiency Review Exercises Further Reading References Answers to Exercises