Dynamic Macroeconomics: Instability, Fluctuations, and Growth in Monetary Economies (Studies in Dynamical Economic Science)
"Macrodynamics is a venerable and important tradition, which fifty or sixtyyears ago engaged the best minds of the economics profession: among themFrisch, Tinbergan, Harrod, Hicks, Samuelson, Goodwin. Recently it has beenin danger of being swallowed up by rational expectations, movingequilibrium, and dynamic optimization. We can be grateful to the authorsof this book for keeping alive the older tradition, while modernizing it inthe light of recent developments in techniques of dynamic modeling."James Tobin, Sterling Professor of Economics Emeritus, Yale University