Economic Growth (3^rd Ed., 3rd ed. 2022) Theory and Numerical Solution Methods Springer Texts in Business and Economics Series

This is the third corrected and extended edition of a book on deterministic and stochastic Growth Theory and the computational methods needed to produce numerical solutions. Exogenous and endogenous growth, non-monetary and monetary models are thoroughly reviewed. Special attention is paid to the use of these models for fiscal and monetary policy analysis. Models under modern theories of the Business Cycle, New Keynesian Macroeconomics, and Dynamic Stochastic General Equilibrium models, can be all considered as special cases of economic growth models, and they can be analyzed by the theoretical and numerical procedures provided in the textbook.

Analytical discussions are presented in full detail. The book is self-contained and it is designed so that the student advances in the theoretical and the computational issues in parallel. Spreadsheets are used to solve simple examples. Matlab files are provided on an accompanying website to illustrate theoretical results from all chapters as well as to simulate the effects of economic policy interventions. The logical structure of these program files is described in "Numerical exercise"-type of sections, where the output of these programs is also interpreted. The third edition corrects a few typographical errors, includes two new and original chapters on frequentist and Bayesian estimation, and improves some notation.

Alfonso Novales is a Professor of Economics at the Department of Quantitative Economics at Universidad Complutense (Madrid). He holds a Ph.D. in Economics from the University of Minnesota and a Ph.D. in Mathematics from Universidad del Pais Vasco. He was Assistant Professor at the State University of New York (Stony Brook) and Visiting Professor at the graduate schools of Yokohama University and Keio University. He has been President of the Spanish Economic Association and chairman of FEDEA (Fundación de Estudios de Economía Aplicada, Madrid). He has published in Econometrica, Journal of Economic Dynamics and Control, Journal of Macroeconomics, International Journal of Forecasting, Journal of Forecasting, Journal of Time Series Analysis, Journal of Banking and Finance, Economic Modelling, European Journal of Operations Research, Computational Economics, Computational Statistics, Journal of International Financial Institutions, Markets and Money, International Journal of Money and Finance, Journal of Fututrs Markets, Applied Financial Economics, Applied Economics Letters, Quarterly Review of Economics and Finance, Quarterly Journal of Finance, Quantitative Finance, Journal of Risk and Financial Management, and International Journal of Finance, and he has contributed with chapters to several books on Macroeconomics and Econometrics. He is the author of Econometria and Estadistica y Econometría, both textbooks edited by McGrawHill in Spanish. His research interests include Economic Policy Evaluation and Financial Econometrics.

Esther Fernández is Associate Professor of Economics at the Department of Quantitative Economics at Universidad Complutense (Madrid). Her Ph.D. dissertation was selected as the best doctoral dissertation in Economics at Universidad Complutense in 1999. Her research interests include Monetary Theory, Economic Growth, and Environmental Economics. She has published at Journal of Economic Dynamics and Control

Integrates analysis of theoretical models of economic growth and computational methods to produce numerical solutions

Features a detailed discussion of economic policy issues

Provides Excel and Matlab files on an accompanying website