Quantitative and Empirical Analysis of Nonlinear Dynamic Macromodels

Willi Semmler, Carl Chiarella, Peter Flaschel, Reiner Franke — 2006

This book represents an ongoing research agenda the aim of which is to contribute to the Keynesian paradigm in macroeconomics. It examines the Dynamic General Equilibrium (DGE) model, the assumption of intertemporal optimizing behavior of economic agents, competitive markets and price mediated market clearing through flexible wages and prices.