macroeconomic theory a dynamic general equilibrium approach.pdf

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MacroeconomicTheory





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MacroeconomicTheoryADynamicGeneralEquilibriumApproachMichaelWickensPrincetonUniversityPressPrincetonandOxford

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Copyright©2008byPrincetonUniversityPressPublishedbyPrincetonUniversityPress,41WilliamStreet,Princeton,NewJersey08540IntheUnitedKingdom:PrincetonUniversityPress,3MarketPlace,Woodstock,OxfordshireOX201SYAllRightsReserved?Acata

3、loguerecordforthisbookisavailablefromtheBritishLibraryThisbookhasbeencomposedinTimesandtypesetbyT&TProductionsLtd,LondonPrintedonacid-freepaper
∞press.princeton.eduPrintedintheUnitedStatesofAmerica10987654321





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ContentsPre

4、facexiii1Introduction11.1DynamicGeneralEquilibriumversusTraditionalMacroeconomics11.2TraditionalMacroeconomics31.3DynamicGeneralEquilibriumMacroeconomics41.4ThisBook72TheCentralizedEconomy122.1Introduction122.2TheBasicDynamicGeneralEquilibriumClosedEconomy122.3G

5、oldenRuleSolution142.3.1TheSteadyState142.3.2TheDynamicsoftheGoldenRule162.4OptimalSolution172.4.1DerivationoftheFundamentalEulerEquation172.4.2InterpretationoftheEulerEquation192.4.3IntertemporalProductionPossibilityFrontier202.4.4GraphicalRepresentationoftheSo

6、lution202.4.5StaticEquilibriumSolution212.4.6DynamicsoftheOptimalSolution232.4.7AlgebraicAnalysisoftheSaddlepathDynamics252.5Real-Business-CycleDynamics272.5.1TheBusinessCycle272.5.2PermanentTechnologyShocks282.5.3TemporaryTechnologyShocks292.5.4TheStabilityandD

7、ynamicsoftheGoldenRuleRevisited292.6LaborintheBasicModel302.7Investment322.7.1q-Theory332.7.2TimetoBuild362.8Conclusions373EconomicGrowth393.1Introduction393.2ModelingEconomicGrowth403.3TheSolow–SwanModelofGrowth413.3.1Theory413.3.2GrowthandEconomicDevelopment44

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viContents3.3.3BalancedGrowth443.4TheTheoryofOptimalGrowth453.4.1Theory453.4.2AdditionalRemarksonOptimalGrowth493.5Endogen