Computational Macroeconomics For The Open Economy
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Computational Macroeconomics For The Open Economy
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Author : G. C. Lim
language : en
Publisher: MIT Press
Release Date : 2024-08-06
Computational Macroeconomics For The Open Economy written by G. C. Lim and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-08-06 with Business & Economics categories.
How to use nonlinear dynamic models in policy analysis. Policymakers need quantitative as well as qualitative answers to pressing policy questions. Because of advances in computational methods, quantitative estimates are now derived from coherent nonlinear dynamic macroeconomic models embodying measures of risk and calibrated to capture specific characteristics of real-world situations. This text shows how such models can be made accessible and operational for confronting policy issues. The book starts with a simple setting based on market-clearing price flexibility. It gradually incorporates departures from the simple competitive framework in the form of price and wage stickiness, taxes, rigidities in investment, financial frictions, and habit persistence in consumption. Most chapters end with computational exercises; the Matlab code for the base model can be found in the appendix. As the models evolve, readers are encouraged to modify the codes from the first simple model to more complex extensions. Computational Macroeconomics for the Open Economy can be used by graduate students in economics and finance as well as policy-oriented researchers.
Computational Macroeconomics For The Open Economy
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Author : G. C. Lim
language : en
Publisher:
Release Date : 2008-10-03
Computational Macroeconomics For The Open Economy written by G. C. Lim and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-10-03 with Business & Economics categories.
How to use nonlinear dynamic models in policy analysis. Policymakers need quantitative as well as qualitative answers to pressing policy questions. Because of advances in computational methods, quantitative estimates are now derived from coherent nonlinear dynamic macroeconomic models embodying measures of risk and calibrated to capture specific characteristics of real-world situations. This text shows how such models can be made accessible and operational for confronting policy issues. The book starts with a simple setting based on market-clearing price flexibility. It gradually incorporates departures from the simple competitive framework in the form of price and wage stickiness, taxes, rigidities in investment, financial frictions, and habit persistence in consumption. Most chapters end with computational exercises; the Matlab code for the base model can be found in the appendix. As the models evolve, readers are encouraged to modify the codes from the first simple model to more complex extensions. Computational Macroeconomics for the Open Economy can be used by graduate students in economics and finance as well as policy-oriented researchers.
An Introduction To Computational Macroeconomics
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Author : Anelí Bongers
language : en
Publisher: Vernon Press
Release Date : 2020-09-01
An Introduction To Computational Macroeconomics written by Anelí Bongers and has been published by Vernon Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-09-01 with Business & Economics categories.
This book presents an introduction to computational macroeconomics, using a new approach to the study of dynamic macroeconomic models. It solves a variety of models in discrete time numerically, using a Microsoft Excel spreadsheet as a computer tool. The solved models include dynamic macroeconomic models with rational expectations, both non-microfounded and microfounded, constituting a novel approach that facilitates the learning and use of dynamic general equilibrium models, which have now become the principal tool for macroeconomic analysis. Spreadsheets are widely known and relatively easy to use, meaning that the computer skills needed to work with dynamic general equilibrium models are affordable for undergraduate students in Advanced Macroeconomics courses.
Computational Economics
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Author : Oscar Afonso
language : en
Publisher: Routledge
Release Date : 2015-08-27
Computational Economics written by Oscar Afonso and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-08-27 with Business & Economics categories.
Computational Economics: A concise introduction is a comprehensive textbook designed to help students move from the traditional and comparative static analysis of economic models, to a modern and dynamic computational study. The ability to equate an economic problem, to formulate it into a mathematical model and to solve it computationally is becoming a crucial and distinctive competence for most economists. This vital textbook is organized around static and dynamic models, covering both macro and microeconomic topics, exploring the numerical techniques required to solve those models. A key aim of the book is to enable students to develop the ability to modify the models themselves so that, using the MATLAB/Octave codes provided on the book and on the website, students can demonstrate a complete understanding of computational methods. This textbook is innovative, easy to read and highly focused, providing students of economics with the skills needed to understand the essentials of using numerical methods to solve economic problems. It also provides more technical readers with an easy way to cope with economics through modelling and simulation. Later in the book, more elaborate economic models and advanced numerical methods are introduced which will prove valuable to those in more advanced study. This book is ideal for all students of economics, mathematics, computer science and engineering taking classes on Computational or Numerical Economics.
Handbook Of Computational Economics
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Author : Karl Schmedders
language : en
Publisher: Newnes
Release Date : 2013-12-31
Handbook Of Computational Economics written by Karl Schmedders and has been published by Newnes this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-31 with Business & Economics categories.
Handbook of Computational Economics summarizes recent advances in economic thought, revealing some of the potential offered by modern computational methods. With computational power increasing in hardware and algorithms, many economists are closing the gap between economic practice and the frontiers of computational mathematics. In their efforts to accelerate the incorporation of computational power into mainstream research, contributors to this volume update the improvements in algorithms that have sharpened econometric tools, solution methods for dynamic optimization and equilibrium models, and applications to public finance, macroeconomics, and auctions. They also cover the switch to massive parallelism in the creation of more powerful computers, with advances in the development of high-power and high-throughput computing. Much more can be done to expand the value of computational modeling in economics. In conjunction with volume one (1996) and volume two (2006), this volume offers a remarkable picture of the recent development of economics as a science as well as an exciting preview of its future potential. - Samples different styles and approaches, reflecting the breadth of computational economics as practiced today - Focuses on problems with few well-developed solutions in the literature of other disciplines - Emphasizes the potential for increasing the value of computational modeling in economics
Open Economy Macroeconomics
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Author : Martín Uribe
language : en
Publisher: Princeton University Press
Release Date : 2017-04-04
Open Economy Macroeconomics written by Martín Uribe and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-04-04 with Business & Economics categories.
A cutting-edge graduate-level textbook on the macroeconomics of international trade Combining theoretical models and data in ways unimaginable just a few years ago, open economy macroeconomics has experienced enormous growth over the past several decades. This rigorous and self-contained textbook brings graduate students, scholars, and policymakers to the research frontier and provides the tools and context necessary for new research and policy proposals. Martín Uribe and Stephanie Schmitt-Grohé factor in the discipline's latest developments, including major theoretical advances in incorporating financial and nominal frictions into microfounded dynamic models of the open economy, the availability of macro- and microdata for emerging and developed countries, and a revolution in the tools available to simulate and estimate dynamic stochastic models. The authors begin with a canonical general equilibrium model of an open economy and then build levels of complexity through the coverage of important topics such as international business-cycle analysis, financial frictions as drivers and transmitters of business cycles and global crises, sovereign default, pecuniary externalities, involuntary unemployment, optimal macroprudential policy, and the role of nominal rigidities in shaping optimal exchange-rate policy. Based on courses taught at several universities, Open Economy Macroeconomics is an essential resource for students, researchers, and practitioners. Detailed exploration of international business-cycle analysis Coverage of financial frictions as drivers and transmitters of business cycles and global crises Extensive investigation of nominal rigidities and their role in shaping optimal exchange-rate policy Other topics include fixed exchange-rate regimes, involuntary unemployment, optimal macroprudential policy, and sovereign default and debt sustainability Chapters include exercises and replication codes
Computational Economics
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Author : David A. Kendrick
language : en
Publisher: Princeton University Press
Release Date : 2011-10-23
Computational Economics written by David A. Kendrick and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-10-23 with Business & Economics categories.
The ability to conceptualize an economic problem verbally, to formulate it as a mathematical model, and then represent the mathematics in software so that the model can be solved on a computer is a crucial skill for economists. Computational Economics contains well-known models--and some brand-new ones--designed to help students move from verbal to mathematical to computational representations in economic modeling. The authors' focus, however, is not just on solving the models, but also on developing the ability to modify them to reflect one's interest and point of view. The result is a book that enables students to be creative in developing models that are relevant to the economic problems of their times. Unlike other computational economics textbooks, this book is organized around economic topics, among them macroeconomics, microeconomics, and finance. The authors employ various software systems--including MATLAB, Mathematica, GAMS, the nonlinear programming solver in Excel, and the database systems in Access--to enable students to use the most advantageous system. The book progresses from relatively simple models to more complex ones, and includes appendices on the ins and outs of running each program. The book is intended for use by advanced undergraduates and professional economists and even, as a first exposure to computational economics, by graduate students. Organized by economic topics Progresses from simple to more complex models Includes instructions on numerous software systems Encourages customization and creativity
Monetary Policy And Macroprudential Regulation With Financial Frictions
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Author : Pierre-Richard Agenor
language : en
Publisher: MIT Press
Release Date : 2020-11-10
Monetary Policy And Macroprudential Regulation With Financial Frictions written by Pierre-Richard Agenor and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-11-10 with Business & Economics categories.
An integrated analysis of how financial frictions can be accounted for in macroeconomic models built to study monetary policy and macroprudential regulation. Since the global financial crisis, there has been a renewed effort to emphasize financial frictions in designing closed- and open-economy macroeconomic models for monetary and macroprudential policy analysis. Drawing on the extensive literature of the past decade as well as his own contributions, in this book Pierre-Richard Age&́nor provides a unified set of theoretical and quantitative macroeconomic models with financial frictions to explore issues that have emerged in the wake of the crisis. These include the need to understand better how the financial system amplifies and propagates shocks originating elsewhere in the economy; how it can itself be a source of aggregate fluctuations; the extent to which central banks should account for financial stability considerations in the conduct of monetary policy; whether national central banks and regulators should coordinate their policies to promote macroeconomic and financial stability; and how much countercyclical macroprudential policies should be coordinated at the international level to mitigate financial spillovers across countries.
International Macroeconomic Dynamics
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Author : Stephen J. Turnovsky
language : en
Publisher: MIT Press
Release Date : 1997
International Macroeconomic Dynamics written by Stephen J. Turnovsky and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Business & Economics categories.
International Macroeconomic Dynamics provides extensive applications of important macroeconomic dynamic models to the international economy. For a long time, the study of macroeconomics has focused almost exclusively on a closed economy and downplayed the role of international transactions. Today, however, researchers recognize that one cannot fully understand domestic macroeconomic relationships without considering the global economy within which each country operates. Increasingly, economists are treating international transactions as an integral part of the macroeconomic system, and international macroeconomics has become an area of intensive research activity. International Macroeconomic Dynamics provides extensive applications of important macroeconomic dynamic models to the international economy. It adopts the main contemporary macroeconomic framework, the representative agent model, and develops a series of models of increasing complexity. The author considers both small and large economies and analyzes them in both deterministic and stochastic contexts. The emphasis is very much on the development of the analytical models; a novel feature is the extensive use of continuous-time stochastic methods. While the author applies the models to a range of important policy issues, particularly issues of fiscal policy, the reader is invited to view the analyses as blueprints for other applications.
Money Macroeconomics And Economic Policy
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Author : William C. Brainard
language : en
Publisher: MIT Press
Release Date : 1991
Money Macroeconomics And Economic Policy written by William C. Brainard and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Business & Economics categories.
These original contributions celebrate and extend Tobin's contributions to macroeconomics, international economics, finance, and economic policy.