Growth and Business Cycles with Equilibrium Indeterminacy

ISBN-13: 9784431556084 / Angielski / Twarda / 2017 / 230 str.

Kazuo Mino

Opis

Over the past two decades, the issue of equilibrium indeterminacy has been one of the major research concerns in macroeconomic dynamics. Growth and Business Cycles with Equilibrium Indeterminacy discusses the main topics in this literature. Based on comprehensive surveys and the author's original research, this book explores sunspot-driven fluctuations in real business cycle models, multiple equilibria in endogenous growth models, and the relation between fiscal policy and indeterminacy. The book also considers indeterminacy in open economy models as well as in models with financial frictions and price rigidity.

Spis treści

Chapter 1: Overview: Equilibrium Indeterminacy in Macroeconomic Dynamics.- Chapter 2: Indeterminacy in Real Business Cycle Models.- Chapter 3: Indeterminacy in Endogenous Growth Models.- Chapter 4: Policy Rules and Indeterminacy.- Chapter 5: Indeterminacy in Open Economies.- Chapter 6: Alternative Sources of Indeterminacy.- Bibliography.- Index.

O autorze

Kazuo Mino is a professor of Economics at Doshisha University and a professor emeritus of Kyoto University. He is the former president of the Japanese Economic Association and the former editor of the Japanese Economic Review. Prior to joining Doshisha University, he worked at Hiroshima, Tohoku, Kobe and Osaka Universities as well as at Kyoto Institute of Economic Research at Kyoto University. Mino has published extensively on various topics in macroeconomic theory including growth and business cycle models, monetary and fiscal policies and open economy macroeconomics.

Blurb

Over the past two decades, the issue of equilibrium indeterminacy has been one of the major research concerns in macroeconomic dynamics. Growth and Business Cycles with Equilibrium Indeterminacy discusses the main topics in this literature. Based on comprehensive surveys and the author’s original research, this book explores sunspot-driven fluctuations in real business cycle models, multiple equilibria in endogenous growth models, and the stabilization effects of fiscal and monetary policy rules.  The book also considers equilibrium indeterminacy in open economy models.