Dynamic General Equilibrium Modelling
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Dynamic General Equilibrium Modelling
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Author : Burkhard Heer
language : en
Publisher: Springer Science & Business Media
Release Date : 2005-12-05
Dynamic General Equilibrium Modelling written by Burkhard Heer 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 2005-12-05 with Business & Economics categories.
Modern business cycle theory and growth theory uses stochastic dynamic general equilibrium models. Many mathematical tools are needed to solve these models. The book presents various methods for computing the dynamics of general equilibrium models. In part I, the representative-agent stochastic growth model is solved with the help of value function iteration, linear and linear quadratic approximation methods, parameterised expectations and projection methods. In order to apply these methods, fundamentals from numerical analysis are reviewed in detail. Part II discusses methods for solving heterogeneous-agent economies. In such economies, the distribution of the individual state variables is endogenous. This part of the book also serves as an introduction to the modern theory of distribution economics. Applications include the dynamics of the income distribution over the business cycle or the overlapping-generations model. Through an accompanying home page to this book, computer codes to all applications can be downloaded.
Dynamic General Equilibrium Modeling
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Author : Burkhard Heer
language : en
Publisher: Springer Nature
Release Date :
Dynamic General Equilibrium Modeling written by Burkhard Heer and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on with Economic development categories.
Contemporary macroeconomics is built upon microeconomic principles, with its most recent advance featuring dynamic stochastic general equilibrium models. The textbook by Heer and Maußner acquaints readers with the essential computational techniques required to tackle these models and employ them for quantitative analysis. This third edition maintains the structure of the second, dividing the content into three separate parts dedicated to representative agent models, heterogeneous agent models, and numerical methods. At the same time, every chapter has been revised and two entirely new chapters have been added. The updated content reflects the latest advances in both numerical methods and their applications in macroeconomics, spanning areas like business-cycle analysis, economic growth theory, distributional economics, monetary and fiscal policy. The two new chapters delve into advanced techniques, including higher-order perturbation, weighted residual methods, and solutions to high-dimensional nonlinear problems. In addition, the authors present further insights from macroeconomic theory, complemented by practical applications like the Smolyak algorithm, Gorman aggregation, rare disaster models and dynamic Laffer curves. Lastly, the new edition places special emphasis on practical implementation across various programming languages; accordingly, its accompanying web page offers examples of computer code for languages such as MATLAB®, GAUSS, Fortran, Julia and Python. "This book does not only an excellent job in explaining the existing tools, but it also teaches the reader on how to write his/her own programs and it provides the reader with the tools to help advance the state of the art of dynamic macroeconomics." Wouter J. Den Haan, London School of Economics ”... provides the reader with exactly the necessary computational tools to solve the dynamic general equilibrium models macroeconomists care about. It is therefore the perfect complement to Stokey, Lucas and Prescott's and Sargent and Ljungqvist's theoretical treatment of modern macroeconomics." Dirk Krueger, University of Pennsylvania.
Dynamic General Equilibrium Modeling
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Author : Burkhard Heer
language : en
Publisher: Springer Science & Business Media
Release Date : 2011-10-20
Dynamic General Equilibrium Modeling written by Burkhard Heer 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 2011-10-20 with Business & Economics categories.
Modern business cycle theory and growth theory uses stochastic dynamic general equilibrium models. In order to solve these models, economists need to use many mathematical tools. This book presents various methods in order to compute the dynamics of general equilibrium models. In part I, the representative-agent stochastic growth model is solved with the help of value function iteration, linear and linear quadratic approximation methods, parameterised expectations and projection methods. In order to apply these methods, fundamentals from numerical analysis are reviewed in detail. In particular, the book discusses issues that are often neglected in existing work on computational methods, e.g. how to find a good initial value. In part II, the authors discuss methods in order to solve heterogeneous-agent economies. In such economies, the distribution of the individual state variables is endogenous. This part of the book also serves as an introduction to the modern theory of distribution economics. Applications include the dynamics of the income distribution over the business cycle or the overlapping-generations model. In an accompanying home page to this book, computer codes to all applications can be downloaded.
Dynamic General Equilibrium Modeling
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Author : Burkhard Heer
language : en
Publisher: Springer
Release Date : 2011-10-20
Dynamic General Equilibrium Modeling written by Burkhard Heer and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-10-20 with Business & Economics categories.
Modern business cycle theory and growth theory uses stochastic dynamic general equilibrium models. In order to solve these models, economists need to use many mathematical tools. This book presents various methods in order to compute the dynamics of general equilibrium models. In part I, the representative-agent stochastic growth model is solved with the help of value function iteration, linear and linear quadratic approximation methods, parameterised expectations and projection methods. In order to apply these methods, fundamentals from numerical analysis are reviewed in detail. In particular, the book discusses issues that are often neglected in existing work on computational methods, e.g. how to find a good initial value. In part II, the authors discuss methods in order to solve heterogeneous-agent economies. In such economies, the distribution of the individual state variables is endogenous. This part of the book also serves as an introduction to the modern theory of distribution economics. Applications include the dynamics of the income distribution over the business cycle or the overlapping-generations model. In an accompanying home page to this book, computer codes to all applications can be downloaded.
Introduction To Dynamic Macroeconomic General Equilibrium Models
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Author :
language : en
Publisher: Vernon Press
Release Date : 2015-04-15
Introduction To Dynamic Macroeconomic General Equilibrium Models written by and has been published by Vernon Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-15 with categories.
This book offers an introductory step-by-step course in Dynamic Stochastic General Equilibrium modelling. Modern macroeconomic analysis is increasingly concerned with the construction, calibration and/or estimation and simulation of Dynamic General Equilibrium (DGE) models. The book is intended for graduate students as an introductory course to DGE modelling and for those economists who would like a hands-on approach to learning the basics of modern dynamic macroeconomic modelling. The book starts with the simplest canonical neoclassical DGE model and then gradually extends the basic framework incorporating a variety of additional features, such as consumption habit formation, investment adjustment cost, investment-specific technological change, taxes, public capital, household production, non-ricardian agents, monopolistic competition, etc. The book includes Dynare codes for the models developed that can be downloaded from the book's homepage.
Introduction To Dynamic Macroeconomic General Equilibrium Models
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Author : Jose Luis Torres Chacon
language : en
Publisher: Vernon Press
Release Date : 2015-03-01
Introduction To Dynamic Macroeconomic General Equilibrium Models written by Jose Luis Torres Chacon and has been published by Vernon Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-01 with categories.
This book offers an introductory step-by-step course to Dynamic Stochastic General Equilibrium modelling. Modern macroeconomic analysis is increasingly concerned with the construction, calibration and/or estimation and simulation of Dynamic General Equilibrium (DGE) models. The book is intended for graduate students as an introductory course to DGE modelling and for those economists who would like a hands-on approach to learning the basics of modern dynamic macroeconomic modelling. The book starts with the simplest canonical neoclassical DGE model and then gradually extends the basic framework incorporating a variety of additional features, such as consumption habit formation, investment adjustment cost, investment-specific technological change, taxes, public capital, household production, non-ricardian agents, monopolistic competition, etc. The book includes Dynare codes for the models developed that can be downloaded from the book's homepage.
Introduction To Dynamic Macroeconomic General Equilibrium Models Second Edition
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Author : José L. Torres
language : en
Publisher: Vernon Press
Release Date : 2020-10-06
Introduction To Dynamic Macroeconomic General Equilibrium Models Second Edition written by José L. Torres and has been published by Vernon Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-10-06 with Business & Economics categories.
This book offers an introductory step-by-step course in Dynamic Stochastic General Equilibrium (DSGE) modelling. Modern macroeconomic analysis is increasingly concerned with the construction, calibration and/or estimation and simulation of DSGE models. The book is intended for graduate students as an introductory course to DSGE modelling and for those economists who would like a hands-on approach to learning the basics of modern dynamic macroeconomic modelling. The book starts with the simplest canonical neoclassical DSGE model and then gradually extends the basic framework incorporating a variety of additional features, such as consumption habit formation, investment adjustment cost, investment-specific technological change, taxes, public capital, household production, non-ricardian agents, monopolistic competition, etc. The book includes Dynare codes for the models developed that can be downloaded from the book’s homepage. The second edition is identical to the first with the exception of a revised appendix to Chapter 2. The revised appendix can be downloaded free of charge in the accompanying downloads section.
Using Dynamic General Equilibrium Models For Policy Analysis
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Author : Glenn W. Harrison
language : en
Publisher: Elsevier Publishing Company
Release Date : 2000
Using Dynamic General Equilibrium Models For Policy Analysis written by Glenn W. Harrison and has been published by Elsevier Publishing Company this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.
This volume offers an up-to-date treatment of dynamic general equilibrium modelling. The book, written by some of the most experienced researchers in the field, contains a rich array of policy settings. The issues considered include trends in the policy use of dynamic general equilibrium models, environmental policy, trade liberalization and enlargement of the European Union, the impact of education and tax policy on human capital accumulation, tax policy and the labour market, and public finances in relation to population ageing.
Introduction To Dynamic Macroeconomic General Equilibrium Models
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Author : Jose L. Chacon
language : en
Publisher: Vernon Press
Release Date : 2014-02-20
Introduction To Dynamic Macroeconomic General Equilibrium Models written by Jose L. Chacon and has been published by Vernon Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-02-20 with Business & Economics categories.
This book offers an introductory step-by-step course to Dynamic Stochastic General Equilibrium modelling. Modern macroeconomic analysis is increasingly concerned with the construction, calibration and/or estimation and simulation of Dynamic General Equilibrium (DGE) models. The book is intended for graduate students as an introductory course to DGE modelling and for those economists who would like a hands-on approach to learning the basics of modern dynamic macroeconomic modelling. The book starts with the simplest canonical neoclassical DGE model and then gradually extends the basic framework incorporating a variety of additional features, such as consumption habit formation, investment adjustment cost, investment-specific technological change, taxes, public capital, household production, non-ricardian agents, monopolistic competition, etc. The book includes Dynare codes for the models developed that can be downloaded from the book's homepage.
Dynamic General Equilibrium Modelling For Forecasting And Policy
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Author : Peter B. Dixon
language : en
Publisher: Elsevier
Release Date : 2002-11-04
Dynamic General Equilibrium Modelling For Forecasting And Policy written by Peter B. Dixon and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-11-04 with Business & Economics categories.
The "Contributions to Economic Analysis" series consists of a number of previously unpublished studies. The term economic analysis is used because it covers the activities of the theoretical economist and the research worker.