Topics in Applied Macrodynamic Theory

This book is about the study of topics in macro dynamics from an applied, empirical perspective. The modeling philosophy behind most of the chapters ofthisbookisofKeynesiannature,representinganattempttorevivethist- oreticalperspectiveontheworkingof themacroeconomy. Themacroeconomic research pursued here is somewhat different from the mainstream literature using the Dynamic Shastic General Equilibrium (DSGE) approach as the basic modeling device. The main features of the latter are the assum...