Dynamic General Equilibrium Modeling
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Dynamic General Equilibrium Modelling
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Author : Burkhard Heer
language : en
Publisher: Springer Science & Business Media
Release Date : 2005-12-05
Dynamic General Equilibrium Modelling written by Burkhard Heer and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-12-05 with Business & Economics categories.
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.
Dynamic General Equilibrium Modeling
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Author : Burkhard Heer
language : en
Publisher: Springer Science & Business Media
Release Date : 2009-02-03
Dynamic General Equilibrium Modeling written by Burkhard Heer and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-02-03 with Business & Economics categories.
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
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Author : Burkhard Heer
language : en
Publisher: Springer
Release Date : 2009-02-03
Dynamic General Equilibrium Modeling written by Burkhard Heer and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-02-03 with Business & Economics categories.
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.
Solving Dynamic General Equilibrium Models Using A Second Order Approximation To The Policy Function
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Author : Stephanie Schmitt-Grohé
language : en
Publisher:
Release Date : 2001
Solving Dynamic General Equilibrium Models Using A Second Order Approximation To The Policy Function written by Stephanie Schmitt-Grohé and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Approximation theory categories.
This paper derives a second-order approximation to the solution of a general class of discrete- time rational expectations models. The main theoretical contribution of the paper is to show that for any model belonging to the general class considered, the coefficients on the terms linear and quadratic in the state vector in a second-order expansion of the decision rule are independent of the volatility of the exogenous shocks. In other words, these coefficients must be the same in the stochastic and the deterministic versions of the model. Thus, up to second order, the presence of uncertainty affects only the constant term of the decision rules. In addition, the paper presents a set of MATLAB programs designed to compute the coefficients of the second-order approximation. The validity and applicability of the proposed method is illustrated by solving the dynamics of a number of model economies.
Multi Regional Dynamic General Equilibrium Modeling Of The U S Economy
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Author : Glyn Wittwer
language : en
Publisher: Springer
Release Date : 2017-07-26
Multi Regional Dynamic General Equilibrium Modeling Of The U S Economy written by Glyn Wittwer and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-26 with Business & Economics categories.
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. It is a practical tool, which may enhance analysis of productivity growth and innovation, adverse events such as drought or civil disruption and the dynamic economic impacts of major projects.Economic analysts and policy makers care about regions. Some regions suffer growing pains, as supporting infrastructure and services struggle to cope with population growth. Soaring house prices and rentals may lower affordability for many. Other regions suffer ongoing decline due to structural change. Regional economic fluctuations are often far more dramatic than national fluctuations.
Dynamic General Equilibrium Models With Imperfectly Competitive Product Markets
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Author : Julio Rotemberg
language : en
Publisher: Hutson Street Press
Release Date : 2025-05-22
Dynamic General Equilibrium Models With Imperfectly Competitive Product Markets written by Julio Rotemberg and has been published by Hutson Street Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-05-22 with Business & Economics categories.
Dynamic General Equilibrium Models With Imperfectly Competitive Product Markets explores the complexities of macroeconomic modeling when incorporating elements of imperfect competition. Authored by Julio Rotemberg and Michael Woodford, this work provides a rigorous analysis of how deviations from perfect competition influence macroeconomic outcomes. The book delves into the theoretical underpinnings of dynamic general equilibrium (DGE) models, offering insights into the effects of market power, price stickiness, and strategic interactions among firms. By bridging microeconomic foundations with macroeconomic dynamics, this study enhances our understanding of business cycles, monetary policy, and the overall performance of the economy. This book remains relevant for economists, researchers, and students seeking a deeper understanding of modern macroeconomic theory. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Using Dynamic General Equilibrium Models For Policy Analysis
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Author : Glenn W. Harrison
language : en
Publisher: Elsevier Publishing Company
Release Date : 2000
Using Dynamic General Equilibrium Models For Policy Analysis written by Glenn W. Harrison and has been published by Elsevier Publishing Company this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.
This volume offers an up-to-date treatment of dynamic general equilibrium modelling. The book, written by some of the most experienced researchers in the field, contains a rich array of policy settings. The issues considered include trends in the policy use of dynamic general equilibrium models, environmental policy, trade liberalization and enlargement of the European Union, the impact of education and tax policy on human capital accumulation, tax policy and the labour market, and public finances in relation to population ageing.
Solving Dynamic General Equilibrium Models Using A Second Order Approximation To The Policy Function To The Policy Function
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Author : Stephanie Schmitt-Grohe
language : en
Publisher:
Release Date : 2001
Solving Dynamic General Equilibrium Models Using A Second Order Approximation To The Policy Function To The Policy Function written by Stephanie Schmitt-Grohe and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Economics categories.
A Dynamic General Equilibrium Model Of Mexico
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Author : Adrian Gonzalez-Estrada
language : en
Publisher:
Release Date : 1999
A Dynamic General Equilibrium Model Of Mexico written by Adrian Gonzalez-Estrada and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Economic forecasting categories.
Solving Dynamic General Equilibrium Models Using A Second Order Appromimation To The Policy Function
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Author : Stephanie Schmitt-Grohe
language : en
Publisher:
Release Date : 2001
Solving Dynamic General Equilibrium Models Using A Second Order Appromimation To The Policy Function written by Stephanie Schmitt-Grohe and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Approximation theory categories.