This work presents an account of how a state-of-the-art macro model is built, and how it works. Throughout, the emphasis is on providing the reader with a hands-on appreciation of the underlying economics, and of the model's practical implementation. The model described is an example of the newer breed of macro models that: (a) have strong micro foundations; (b) incorporate rational expectations in financial markets; (c) converge over simulated time to an interpretable balanced growth path; and (d) draw on the strengths of many different traditions in economics.
- ISBN10 3540600272
- ISBN13 9783540600275
- Publish Date September 1995 (first published 1 January 1995)
- Publish Status Active
- Out of Print 12 September 2013
- Publish Country DE
- Publisher Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
- Imprint Springer-Verlag Berlin and Heidelberg GmbH & Co. K
- Format Paperback
- Pages 442
- Language English