Dynamic General Equilibrium Modeling

Author: Burkhard Heer
Editor: Springer Science & Business Media
ISBN: 3540856846
File Size: 32,39 MB
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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 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
Language: en
Pages: 702
Authors: Burkhard Heer, Alfred Maussner
Categories: Business & Economics
Type: BOOK - Published: 2011-10-20 - Publisher: Springer Science & Business Media

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
Dynamic General Equilibrium Modelling
Language: en
Pages: 540
Authors: Burkhard Heer, Alfred Maussner
Categories: Business & Economics
Type: BOOK - Published: 2005-12-05 - Publisher: Springer Science & Business Media

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
Multi-regional Dynamic General Equilibrium Modeling of the U.S. Economy
Language: en
Pages: 236
Authors: Glyn Wittwer
Categories: Business & Economics
Type: BOOK - Published: 2017-08-14 - Publisher: Springer

This book details the preparation of USAGE-TERM, a computable general equilibrium model that provides regional economic detail in the USA. The model can represent either congressional district or state level economic activity. The latter may include a top-down representation of county activity. Interest in USAGE-TERM is growing among government departments.
Dynamic General Equilibrium Modeling
Language: en
Pages: 702
Authors: Burkhard Heer, Alfred Maussner
Categories: Business & Economics
Type: BOOK - Published: 2009-02-03 - Publisher: Springer

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
Introduction to Dynamic Macroeconomic General Equilibrium Models
Language: en
Pages: 268
Authors: Jose L. Chacon, José Luis Torres
Categories: Business & Economics
Type: BOOK - Published: 2014-02-20 - Publisher: Vernon Press

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