A Simple Second-order Solution Method for Dynamic General Equilibrium Models PDF Download
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Author: Alan Sutherland
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 28
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Book Description
Author: Alan Sutherland
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 28
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Book Description
Author: Alan Sutherland
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: Stephanie Schmitt-Grohe
Publisher:
ISBN:
Category : Economics
Languages : en
Pages :
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Book Description
Author: Stephanie Schmitt Grohé
Publisher:
ISBN:
Category :
Languages : en
Pages : 10
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Book Description
Author: Burkhard Heer
Publisher: Springer Science & Business Media
ISBN: 364203148X
Category : Business & Economics
Languages : en
Pages : 720
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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.
Author: Andrew Binning
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author:
Publisher:
ISBN:
Category : Equilibrium (Economics)
Languages : en
Pages : 44
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Book Description
Author: Stephanie Schmitt-Grohe
Publisher:
ISBN:
Category : Approximation theory
Languages : en
Pages : 24
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Book Description
Author: Kenneth L. Judd
Publisher: MIT Press
ISBN: 0262547740
Category : Business & Economics
Languages : en
Pages : 657
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Book Description
To harness the full power of computer technology, economists need to use a broad range of mathematical techniques. In this book, Kenneth Judd presents techniques from the numerical analysis and applied mathematics literatures and shows how to use them in economic analyses. The book is divided into five parts. Part I provides a general introduction. Part II presents basics from numerical analysis on R^n, including linear equations, iterative methods, optimization, nonlinear equations, approximation methods, numerical integration and differentiation, and Monte Carlo methods. Part III covers methods for dynamic problems, including finite difference methods, projection methods, and numerical dynamic programming. Part IV covers perturbation and asymptotic solution methods. Finally, Part V covers applications to dynamic equilibrium analysis, including solution methods for perfect foresight models and rational expectation models. A website contains supplementary material including programs and answers to exercises.
Author: G Gandolfo
Publisher: Elsevier
ISBN: 0444601228
Category : Technology & Engineering
Languages : en
Pages : 584
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Book Description
Economic Dynamics: Methods and Models aims to give a simple but comprehensive treatment of mathematical methods used in economic dynamics and show how they are utilized to build and to analyze dynamic models. The text also focuses on methods, and every mathematical technique introduced is followed by its application to selected models. The book is divided into three different parts. Part I: Different Equations discusses general principles; first-order, second-order, higher-order equations; simultaneous systems; and their economic applications. Part II: Differential Equations also discusses the same areas as those in Part I, but instead features differential equations, as what the section name suggests. Part III: More Advanced Material covers comparative statistics and the comparative principle; stability of equilibrium and Liapunov's second method; and linear mixed differential and difference equations, as well as its other related topics. The text is recommended for mathematicians and economists who have an idea on advanced mathematics and would like to know more about its applications in economics.
