Models for Dynamic Macroeconomics

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1、ModelsforDynamicMacroeconomicsThispageintentionallyleftblankModelsforDynamicMacroeconomicsFabio-CesareBaglianoGiuseppeBertola13GreatClarendonStreet,Oxfordox26dpOxfordUniversityPressisadepartmentoftheUniversityofOxford.ItfurtherstheUniversity’sobjectiveofexcellencei

2、nresearch,scholarship,andeducationbypublishingworldwideinOxfordNewYorkAucklandCapeTownDaresSalaamHongKongKarachiKualaLumpurMadridMelbourneMexicoCityNairobiNewDelhiShanghaiTaipeiTorontoWithofficesinArgentinaAustriaBrazilChileCzechRepublicFranceGreeceGuatemalaHungaryIt

3、alyJapanPolandPortugalSingaporeSouthKoreaSwitzerlandThailandTurkeyUkraineVietnamOxfordisaregisteredtrademarkofOxfordUniversityPressintheUKandincertainothercountriesPublishedintheUnitedStatesbyOxfordUniversityPressInc.,NewYork©Fabio-CesareBaglianoandGiuseppeBertola2

4、004ThemoralrightsoftheauthorshavebeenassertedDatabaserightOxfordUniversityPress(maker)Firstpublished2004Firstpublishedinpaperback2007Allrightsreserved.Nopartofthispublicationmaybereproduced,storedinaretrievalsystem,ortransmitted,inanyformorbyanymeans,withouttheprio

5、rpermissioninwritingofOxfordUniversityPress,orasexpresslypermittedbylaw,orundertermsagreedwiththeappropriatereprographicsrightsorganization.EnquiriesconcerningreproductionoutsidethescopeoftheaboveshouldbesenttotheRightsDepartment,OxfordUniversityPress,attheaddressa

6、boveYoumustnotcirculatethisbookinanyotherbindingorcoverandyoumustimposethesameconditiononanyacquirerBritishLibraryCataloguinginPublicationDataDataavailableLibraryofCongressCataloginginPublicationDataDataavailableTypesetbySPIPublisherServices,Pondicherry,IndiaPrinte

7、dinGreatBritainonacid-freepaperbyAshfordColourPressLtd,Gosport,HampshireISBN978–0–19–926682–1(hbk.)ISBN978–0–19–922832–4(pbk.)10987654321PREFACETOPAPERBACKEDITIONTheimpactofmacroeconomicsondailylifeislesstangiblethanthatofmicro-economics.Everyonehastodealwithrisin

8、gsupermarketprices,fluctuationsinthelabormarket,andothermicroeconomicproblems.Onlyahandfulofpolicymakersandgovernmentofficialsreallyneedtoworryabout