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Introduction to Dynamic Macroeconomic Theory
Economies are constantly in flux, and economists have long sought reliable means of analyzing their dynamic properties. This book provides a succinct and accessible exposition of modern dynamic (or intertemporal) macroeconomics. The authors use a microeconomics-based general equilibrium framework, specifically the overlapping generations model, which assumes that in every period there are two generations which overlap. This model allows the authors to fully describe economies over time and to employ traditional welfare analysis to judge the effects of various policies. By choosing to keep the mathematical level simple and to use the same modeling framework throughout, the authors are able to...
The ABCs of RBCs
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, ...
The Five George Masons
A Founding Father, a patriot in the Revolutionary War, a delegate from Virginia to the Constitutional Convention, and one of the driving forces behind the creation of the U.S. Bill of Rights, George Mason (1725-1792) worked passionately and diligently throughout his life, both as a private citizen and as a public servant, to ensure that government protected the inherent rights of the people. The Five George Masons, first published in 1975, provides a comprehensive overview of five generations of the Mason family, beginning with George Mason I, who fled England following the defeat of the Royalists at the second battle of Worcester in 1651, arriving in the Colony of Virginia in the early 1650...
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Slavery in the American Mountain South
Wilma Dunaway breaks new ground by focusing on slave experiences on small plantations in the Upper South. She argues that a region was not buffered from the political, economic, and social impacts of enslavement simply because it was characterized by low black population density and small slaveholdings. By drawing on a massive statistical data base derived from antebellum census manuscripts and county tax records of 215 counties in nine states, on a vast array slaveholder manuscripts, and on regional slave narratives, she pinpoints several indicators that distinguished Mountain South enslavement from the Lower South.
