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Springer Open Economy Macrodynamics: Integrated Disequilibrium Approach

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Description

This comprehensive text by Springer examines interacting and small open economies through a historical lens, tracing development from the Classical gold standard and specie-flow mechanism to modern approaches. The work establishes the Dornbusch IS-LM-PC framework, with and without rational expectations, as a foundational contribution to contemporary open economy macrodynamics and structural macroeconometric modelling. The first section builds classical economic theory before the second part extends the analysis to incorporate greater disequilibrium effects on real markets. This integrated approach provides economists, academics, and financial professionals with rigorous theoretical grounding and practical applications for understanding complex interactions within open economies and their macroeconomic dynamics.

Key Features

Open Economy Macrodynamics covers both classical and contemporary theoretical frameworks for analysing small and interacting open economies.

The text examines the Dornbusch IS-LM-PC approach as a core contribution to modern open economy macroeconomic analysis and model building.

Historical perspective traces economic theory from the gold standard and specie-flow mechanism through to modern rational expectations models.

Disequilibrium analysis in the second part incorporates real market effects and structural considerations into macroeconometric applications.

Springer's treatment integrates theoretical macroeconomics with practical structural modelling suitable for academic and professional study.

Product Specifications

Format
paperback
Domain
Amazon UK
Release Date
06 December 2010
Listed Since
20 September 2010

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