Complex Economic Dynamics, Vol. 2: An Introduction to Macroeconomic Dynamics (Studies in Dynamical Economic Science) (Studies in Dynamical Economic Science Series) - Hardcover

Day, Richard Hollis

Hardcover

ISBN 10: 0262041723 ISBN 13: 9780262041720

Publisher: Mit Pr, 2000

Synopsis

Richard H. Day was one of the first economists to recognize the importance of complex dynamics, or chaos theory, to economics. He can justly be described as one of the originators of the now extensive economic literature on chaos.The two volumes of Complex Economic Dynamics show that, far from being a passing trend in economic research, complex dynamics belongs at the heart of the subject. Although they can be read independently, the volumes follow a logical sequence. Volume 1 contained nontechnical introductions to the basics of economic change and to the mathematical and theoretical tools used to describe them. Volume 2, which is concerned with macroeconomic dynamics, looks at the economy as a whole. Topics include business cycles, economic growth, economic development, and dynamical economic science and policy. The book concludes with the author's reflections on the implications of complex dynamics for economic theory, quantitative research, and government policy.

About this title

About the Author

Richard H. Day is Professor of Economics at the University of Southern California.

Review

This book is a sweeping tour through Day's work on economic dynamics. Whether one agrees with his approach or not, one can benefit from the toolspresented, and all will enjoy the mathematical scenery of the journey.

(William A. Brock, Vilas Research Professor of Economics, The Universityof Wisconsin, Madison)

Edition details

• Publisher: Mit Pr
• Publication date: 2000
• ISBN 10: 0262041723
• ISBN 13: 9780262041720
• Binding: Hardcover
• Language: English
• Number of pages: 418