Dynamic General Equilibrium Modeling - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Dynamic General Equilibrium Modeling write by Burkhard Heer. This book was released on 2009-02-03. Dynamic General Equilibrium Modeling available in PDF, EPUB and Kindle. 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 Modelling for Forecasting and Policy
Dynamic General Equilibrium Modelling for Forecasting and Policy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Dynamic General Equilibrium Modelling for Forecasting and Policy write by Peter B. Dixon. This book was released on 2002-11-04. Dynamic General Equilibrium Modelling for Forecasting and Policy available in PDF, EPUB and Kindle. The "Contributions to Economic Analysis" series consists of a number of previously unpublished studies.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.
Dynamic General Equilibrium Modelling
Dynamic General Equilibrium Modelling - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Dynamic General Equilibrium Modelling write by Burkhard Heer. This book was released on 2005-12-05. Dynamic General Equilibrium Modelling available in PDF, EPUB and Kindle. 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.
Policy Analysis and Forecasting in the World Economy
Policy Analysis and Forecasting in the World Economy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Policy Analysis and Forecasting in the World Economy write by Francis Vitek. This book was released on 2013-12-19. Policy Analysis and Forecasting in the World Economy available in PDF, EPUB and Kindle. This paper develops a structural macroeconometric model of the world economy, disaggregated into thirty five national economies. This panel unobserved components model encompasses an approximate linear panel dynamic stochastic general equilibrium model featuring a monetary transmission mechanism, a fiscal transmission mechanism, and extensive macrofinancial linkages, both within and across economies. A variety of monetary policy analysis, fiscal policy analysis, spillover analysis, and forecasting applications of the estimated model are demonstrated, based on a Bayesian framework for conditioning on judgment.
Dynamic General Equilibrium Modeling
Dynamic General Equilibrium Modeling - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Dynamic General Equilibrium Modeling write by Burkhard Heer. This book was released on . Dynamic General Equilibrium Modeling available in PDF, EPUB and Kindle. 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.
