Dynamic General Equilibrium Modeling is popular PDF and ePub book, written by Burkhard Heer in 2011-10-20, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Dynamic General Equilibrium Modeling can be Read Online from any device for your convenience.
Dynamic General Equilibrium Modeling Book PDF Summary
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.
Detail Book of Dynamic General Equilibrium Modeling PDF
- Author : Burkhard Heer
- Release : 20 October 2011
- Publisher : Springer Science & Business Media
- ISBN : 9783540856849
- Genre : Business & Economics
- Total Page : 719 pages
- Language : English
- PDF File Size : 19,7 Mb
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