Kevin D. Hoover is Professor of Economics and Philosophy at Duke University. A graduate of the College of William and Mary, he received his doctorate from the University of Oxford. He developed his interest in applied macroeconomics early in his career while working at the Federal Reserve Bank of San Francisco. Before moving to Duke, Hoover taught economics at the University of California, Davis, and at Oxford. He is the author of The New Classical Macroeconomics (1988), Causality in Macroeconomics (Cambridge University Press, 2001) and The Methodology of Empirical Macroeconomics (Cambridge University Press, 2001), as well as nine edited volumes and more than 100 academic articles on macroeconomics, monetary economics, econometrics, the methodology and philosophy of economics, and the history of economic thought. He is past chairman of the International Network for Economic Method, the past president of the History of Economics Society and a former editor of the Journal of Economic Methodology. He is currently the editor of the journal History of Political Economy and a Fellow of the Center for the History of Political Economy at Duke University.
The authors detail strategies for solving dynamic structural models and present the full range of methods for characterizing and evaluating empirical implications, including calibration exercises, method-of-moment procedures, and likelihood-based procedures, both classical and Bayesian. The authors look at recent strides that have been made to enhance numerical efficiency, consider the expanded applicability of dynamic factor models, and examine the use of alternative assumptions involving learning and rational inattention on the part of decision makers. The treatment of methodologies for obtaining nonlinear model representations has been expanded, and linear and nonlinear model representations are integrated throughout the text. The book offers a rich array of implementation algorithms, sample empirical applications, and supporting computer code.
Structural Macroeconometrics is the ideal textbook for graduate students seeking an introduction to macroeconomics and econometrics, and for advanced students pursuing applied research in macroeconomics. The book's historical perspective, along with its broad presentation of alternative methodologies, makes it an indispensable resource for academics and professionals.