Macroeconomic modelling has undergone radical changes in the last few years of the 20th century. There has been considerable innovation in developing robust solution techniques for the new breed of increasingly complex models. Similarly there has been a growing consensus on their long run and dynamic properties, as well as much development on existing themes such as modelling expectations and policy rules. This edited volume focuses on those areas which have undergone the most significant and imaginative developments and brings together the best of modelling practice. Included are specific sections on: (I) Solving Large Macroeconomic Models; (II) Rational Expectations and Learning Approaches; (III) Macro Dynamics; and (IV) Long Run and Closures. All of the contributions put their developments in context. The text should be of interest to those in policy institutions as well as academics and advanced students in the fields of economics, mathematics, business and government.
