Dynamic General Equilibrium Modeling

Released on by Burkhard Heer
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  • Dynamic General Equilibrium Modeling Book Detail

  • Author : Burkhard Heer
  • Release Date : 2009-08-12
  • Publisher : Springer Science & Business Media
  • Genre : Business & Economics
  • Pages : 720
  • ISBN 13 : 364203148X
  • File Size : 34,34 MB
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Dynamic General Equilibrium Modeling by Burkhard Heer PDF Summary

Book Description: 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.

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Dynamic General Equilibrium Modeling

Dynamic General Equilibrium Modeling

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Modern business cycle theory and growth theory uses stochastic dynamic general equilibrium models. In order to solve these models, economists need to use many m

Dynamic General Equilibrium Modelling

Dynamic General Equilibrium Modelling

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Modern business cycle theory and growth theory uses stochastic dynamic general equilibrium models. Many mathematical tools are needed to solve these models. The

Dynamic General Equilibrium Modeling

Dynamic General Equilibrium Modeling

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Contemporary macroeconomics is built upon microeconomic principles, with its most recent advance featuring dynamic stochastic general equilibrium models. The te