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Post Walrasian Macroeconomics : Beyond the Dynamic Stochastic General Equilibrium Model

Post Walrasian Macroeconomics : Beyond the Dynamic Stochastic General Equilibrium Model - 06 edition

Post Walrasian Macroeconomics : Beyond the Dynamic Stochastic General Equilibrium Model - 06 edition

ISBN13: 9780521684200

ISBN10: 052168420X

Post Walrasian Macroeconomics : Beyond the Dynamic Stochastic General Equilibrium Model by David Colander - ISBN 9780521684200
Edition: 06
Copyright: 2006
Publisher: Cambridge University Press
Published:
International: No
Post Walrasian Macroeconomics : Beyond the Dynamic Stochastic General Equilibrium Model by David Colander - ISBN 9780521684200

ISBN13: 9780521684200

ISBN10: 052168420X

Edition: 06

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Summary

Macroeconomics is evolving in an almost dialectic fashion. The latest evolution is the development of a new synthesis that combines insights of new classical, new Keynesian and real business cycle traditions into a dynamic, stochastic general equilibrium (DSGE) model that serves as a foundation for thinking about macro policy. That new synthesis has opened up the door to a new antithesis, which is being driven by advances in computing power and analytic techniques. This new synthesis is coalescing around developments in complexity theory, automated general to specific econometric modeling, agent-based models, and non-linear and statistical dynamical models. This book thus provides the reader with an introduction to what might be called a Post Walrasian research program that is developing as the antithesis of the Walrasian DSGE synthesis.

  • State of the art perspectives on macro theory from many of the world's leading theorists and methodologists
  • Also useful as a course book or supplementary textbook in graduate macroeconomics
  • Includes a historical section that surveys the development of macroeconomics