Stochastic Dynamic Macroeconomics: Theory and Empirical Evidence

Hardcover (Print)
Buy New
Buy New from
Used and New from Other Sellers
Used and New from Other Sellers
from $3.94
Usually ships in 1-2 business days
(Save 93%)
Other sellers (Hardcover)
  • All (9) from $3.94   
  • New (6) from $14.00   
  • Used (3) from $3.94   


This is a book on stochastic dynamic macroeconomics from a Keynesian perspective. It shows that including Keynesian features in intertemporal models considerably contributes to resolve major puzzles arising in the context of the Dynamic General Equilibrium (DGE) model. It also demonstrates that including microeconomic intertemporal behavior of economic agents in macroeconomics is not inconsistent with Keynesian economics.

Read More Show Less

Product Details

  • ISBN-13: 9780195301625
  • Publisher: Oxford University Press, USA
  • Publication date: 1/28/2006
  • Pages: 224
  • Product dimensions: 9.30 (w) x 6.40 (h) x 0.90 (d)

Meet the Author

Gang Gong is Associate Professor of Economics and Management at Tsinghua University in Beijing, China, and co-author of The Forces of Economic Growth (2005).

Willi Semmler is Professor of Economics at New School University, at the Center for Empirical Macroeconomics at Bielefeld University, and Research Fellow at the Bernard Schwartz Center for Economic Policy Analysis. He is the author of Asset Prices, Booms, and Recessions (2003), co-author of The Forces of Economic Growth (2005), Dynamic Macroeconomics (1997), Disequilibrium, Growth, and Labor Market Dynamics (2001), Monetary and Fiscal Policy in the Euro-area (2005); editor of Monetary Policy and Unemployment: US, Euro-Area and Japan, (2005) and co-editor of the series Dynamic Modelling and Econometrics in Economics and Finance.

Read More Show Less

Table of Contents

1 Solution methods of stochastic dynamic models 13
2 Solving a prototype stochastic dynamic model 33
3 Estimating and evaluating the stochastic dynamic model 51
4 Real business cycles : theory and solutions 63
5 Empirics of the standard real business cycle model 81
6 Asset market implications of real business cycles 97
7 Multiple equilibria and history dependence 113
8 Business cycles with a nonclearing labor market 127
9 Monopolistic competition, nonclearing markets, and technology shocks 161
10 Reflections and conclusions 175
Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star


4 Star


3 Star


2 Star


1 Star


Your Rating:

Your Name: Create a Pen Name or

Barnes & Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation


  • - By submitting a review, you grant to Barnes & and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Terms of Use.
  • - Barnes & reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)