The ABCs Of RBCs : An Introduction To Dynamic Macroeconomic Models by George McCandless

The ABCs of RBCs is the first book to provide a basic introduction to Real Business Cycle (RBC) and New-Keynesian models. These models argue that random shocks—new inventions, droughts, and wars, in the case of pure RBC models, and monetary and fiscal policy and international investor risk aversion, in more open interpretations—can trigger booms and recessions and can account for much of observed output volatility. George McCandless works through a sequence of these Real Business Cycle and New-Keynesian dynamic stochastic general equilibrium models in fine detail, showing how to solve them, and how to add important extensions to the basic model, such as money, price and wage rigidities, financial markets, and an open economy.

Publisher:	Harvard University Press
Year:	2008
Binding:	Hardback
ISBN:	9780674028142
Condition:	Very Good
Description:	DJ; Heavy.

Note: This image is from a stock photo and may differ from the actual cover.

SKU: 1602524
Location: Business