Dynamic General Equilibrium Modeling

Name: Dynamic General Equilibrium Modeling
Brand: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
SKU: 9783642031489
Price: 692.97 RON
Availability: InStock

Autor: Burkhard Heer

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Legare: Carte broșată

Editura: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG

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Modern business cycle theory and growth theory uses stochastic dynamic general equilibrium models. I...

Informații despre carte

Autor

Burkhard Heer

Limbă

engleză

Legare

Carte - Carte broșată

Publicat

2009

Pagini

702

EAN

9783642031489

ISBN

364203148X

Enbook ID

01365679

Editura

Springer-Verlag Berlin and Heidelberg GmbH & Co. KG

Greutate

1128

Dimensiuni

156 x 235 x 39

Descriere completă

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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