A SIMPLE SECOND ORDER SOLUTION METHOD FOR DYNAMIC GENERAL EQUILIBRIUM MODELS

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Solving For Country Portfolios In Open Economy Macro Models Epub

Author : Michael B. Devereux
ISBN : 9781452751115
Genre : Business & Economics
File Size : 74.26 MB
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This paper presents a general approximation method for characterizing time-varying equilibrium portfolios in a two-country dynamic general equilibrium model. the method can be easily adapted to most dynamic general equilibrium models, it applies to environments in which markets are complete or incomplete, and it can be used for models of any dimension. Moreover, the approximation provides simple, easily interpretable closed form solutions for the dynamics of equilibrium portfolios.
Category: Business & Economics

Country Portfolio Dynamics

Author : Mr. Alan Sutherland
ISBN : 9781451912999
Genre : Business & Economics
File Size : 35.84 MB
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This paper presents a general approximation method for characterizing time-varying equilibrium portfolios in a two-country dynamic general equilibrium model. the method can be easily adapted to most dynamic general equilibrium models, it applies to environments in which markets are complete or incomplete, and it can be used for models of any dimension. Moreover, the approximation provides simple, easily interpretable closed form solutions for the dynamics of equilibrium portfolios.
Category: Business & Economics

Dynamic General Equilibrium Modelling

Author : Burkhard Heer
ISBN : 3540273123
Genre : Business & Economics
File Size : 46.9 MB
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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.
Category: Business & Economics

Handbook Of Computable General Equilibrium Modeling

Author : Peter B. Dixon
ISBN : 9780444626318
Genre : Business & Economics
File Size : 68.58 MB
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Top scholars synthesize and analyze scholarship on this widely used tool of policy analysis in 27 articles, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top U.S. graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view. Presents coherent summaries of CGE theories that inform major model types Covers the construction of CGE databases, model solving, and computer-assisted interpretation of results Shows how CGE modeling has made a contribution to economic policy
Category: Business & Economics