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:
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.
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.
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.
Open Economy Macroeconomics
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Author : Helmut Frisch
language : en
Publisher: Springer
Release Date : 2016-07-27
Open Economy Macroeconomics written by Helmut Frisch and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-27 with Business & Economics categories.
The integration of market economies is one of the most remarkable features of international economics, which has important implications for macroeconomic performance in open economies. Equally important is the declining relevance of the real versus the monetary theory dichotomy. These papers focus on those aspects of monetary policy which relate to credibility and non-neutrality; the domestic adjustment to foreign shocks; the interdependence of open economies and their strategic interactions. An important section is also devoted to the innovative modelling of exchange rate dynamics.
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
International Finance And Open Economy Macroeconomics
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Author : Giancarlo Gandolfo
language : en
Publisher: Springer Science & Business Media
Release Date : 2002-06-26
International Finance And Open Economy Macroeconomics written by Giancarlo Gandolfo and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-06-26 with Business & Economics categories.
"This book deals with the financial side of international economics and covers all aspects of international finance. There are many books and articles by exponents of alternative points of view. I know of no other book that provides the scope, balance, objectivity and rigor of the book." (Professor Jerome L. Stein, Brown University) From the reviews: "In this survey of international finance and open-economy macroeconomics, Gandolfo succeeds in meeting the needs of advanced undergraduate or lower-level graduate students through a largely textual and graphical approach, while at the same time presenting in the appendices explicit mathematical analyses for more advanced graduate students." (Journal of Banking & Finance 2004)
The Open Economy Macromodel Past Present And Future
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Author : Arie Arnon
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
The Open Economy Macromodel Past Present And Future written by Arie Arnon and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
The impetus for the conference that was the basis for this volume emanated from the influence of two brilliant minds-Egon Sohmen and Adam Klug, who both died at an early age, leaving their families and the professions of economics and economic history with major voids. In the course of research on the origins of Open Economy Macroeconomics, the significant contributions of Egon Sohmen came to the fore. After correspondence with some of those involved in the early development of the Open Economy Macromodel, we turned to Adam Klug for his views on the matter-as he had dealt with the history of intertemporal trade models in his Ph. D. thesis. And it was Adam who suggested the idea of a conference bringing together economists and economic historians. At this point we want to acknowledge the very generous grant from the Egon Sohmen Foundation and the active participation of Dr. Helmut Sohmen and Mrs. Renee Sohmen at the conference. We also want to thank Prof. Sir Aaron Klug, Nobel Laureate, and the Klug family for their support and the financial contribution of the Adam Klug Memorial Lecture Fund at Ben Gurion University. Other institutions that contributed to the conference were the Gianni Foundation; Bank of Israel; University of North Carolina; Department of Economics, Faculty of Social Science and Aharon Meir Center for Banking, Bar Ilan University; Department of Economics and Faculty of Social Science, Ben-Gurion University of the Negev.
Observers And Macroeconomic Systems
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Author : Ric D. Herbert
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Observers And Macroeconomic Systems written by Ric D. Herbert and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
Observers and Macroeconomic Systems is concerned with the computational aspects of using a control-theoretic approach to the analysis of dynamic macroeconomic systems. The focus is on using a separate model for the development of the control policies. In particular, it uses the observer-based approach whereby the separate model learns to behave in a similar manner to the economic system through output-injections. The book shows how this approach can be used to learn the forward-looking behaviour of economic actors which is a distinguishing feature of dynamic macroeconomic models. It also shows how it can be used in conjunction with low-order models to undertake policy analysis with a large practical econometric model. This overcomes some of the computational problems arising from using just the large econometric models to compute optimal policy trajectories. The work also develops visual simulation software tools that can be used for policy analysis with dynamic macroeconomic systems.
International Finance And Open Economy Macroeconomics
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Author : Francisco L. Rivera-Batiz
language : en
Publisher: Prentice Hall
Release Date : 1994
International Finance And Open Economy Macroeconomics written by Francisco L. Rivera-Batiz and has been published by Prentice Hall this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Business & Economics categories.
Offers the remarkable deregulation and internationalization of banking and finance in the 1980s and 1990s. Discusses the growing importance of Japanese finance, the economics of the European integration of 1992, and analysis of exchange rate regimes in developing countries.
Macroeconomic Theory For The Open Economy
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Author : Paul de Grauwe
language : en
Publisher: Aldershot, Hampshire, England : Gower
Release Date : 1983
Macroeconomic Theory For The Open Economy written by Paul de Grauwe and has been published by Aldershot, Hampshire, England : Gower this book supported file pdf, txt, epub, kindle and other format this book has been release on 1983 with Business & Economics categories.