Dynamic General Equilibrium Modeling

Download Dynamic General Equilibrium Modeling ebook PDF or Read Online books in PDF, EPUB, and Mobi Format. Click Download or Read Online button to Dynamic General Equilibrium Modeling book pdf for free now.

Dynamic General Equilibrium Modeling

Author : Burkhard Heer
ISBN : 9783540856849
Genre : Business & Economics
File Size : 66.51 MB
Format : PDF, ePub, Docs
Download : 489
Read : 440

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.
Category: Business & Economics

Dynamic General Equilibrium Modelling

Author : Burkhard Heer
ISBN : 354022095X
Genre : Business & Economics
File Size : 56.83 MB
Format : PDF, Docs
Download : 553
Read : 1198

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

Multi Regional Dynamic General Equilibrium Modeling Of The U S Economy

Author : Glyn Wittwer
ISBN : 9783319588667
Genre : Business & Economics
File Size : 68.5 MB
Format : PDF, Kindle
Download : 238
Read : 856

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.
Category: Business & Economics

Handbook Of Computable General Equilibrium Modeling

Author : Peter B. Dixon
ISBN : 9780444626318
Genre : Business & Economics
File Size : 20.79 MB
Format : PDF, ePub, Mobi
Download : 538
Read : 641

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

Introduction To Dynamic Macroeconomic General Equilibrium Models

Author :
ISBN : 1622730240
Genre :
File Size : 27.53 MB
Format : PDF, ePub, Mobi
Download : 247
Read : 943

This book offers an introductory step-by-step course in 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 economists who would like a hands-on approach to learning the basics of modern dynamic macroeconomic modelling. The book starts with the simplest canonical neoclassical DGE model and then gradually extends the basic framework incorporating a variety of additional features, such as consumption habit formation, investment adjustment cost, investment-specific technological change, taxes, public capital, household production, non-ricardian agents, monopolistic competition, etc. The book includes Dynare codes for the models developed that can be downloaded from the book's homepage.
Category:

Frontiers In Applied General Equilibrium Modeling

Author : Timothy J. Kehoe
ISBN : 1139443720
Genre : Business & Economics
File Size : 25.63 MB
Format : PDF, Kindle
Download : 171
Read : 274

This 2005 volume brings together twelve papers by many of the most prominent applied general equilibrium modelers honoring Herbert Scarf, the father of equilibrium computation in economics. It deals with developments in applied general equilibrium, a field which has broadened greatly since the 1980s. The contributors discuss some traditional as well as some modern topics in the field, including non-convexities in economy-wide models, tax policy, developmental modeling and energy modeling. The book also covers a range of distinct approaches, conceptual issues and computational algorithms, such as calibration and areas of application such as macroeconomics of real business cycles and finance. An introductory chapter written by the editors maps out issues and scenarios for the future evolution of applied general equilibrium.
Category: Business & Economics

Essays In Dynamic General Equilibrium Theory

Author : Alessandro Citanna
ISBN : 9783540271925
Genre : Business & Economics
File Size : 90.55 MB
Format : PDF, ePub
Download : 807
Read : 529

In the area of dynamic economics, David Cass’s work has spawned a number of important lines of research, including the study of dynamic general equilibrium theory, the concept of sunspot equilibria, and general equilibrium theory when markets are incomplete. Based on these contributions, this volume contains new developments in the field, written by Cass's students and co-authors.
Category: Business & Economics

Using Dynamic General Equilibrium Models For Policy Analysis

Author : Glenn W. Harrison
ISBN : STANFORD:36105025106829
Genre : Business & Economics
File Size : 59.97 MB
Format : PDF, ePub
Download : 562
Read : 1036

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.
Category: Business & Economics

Handbook Of Macroeconomics

Author : John B. Taylor
ISBN : 0444501568
Genre : Adjustments, Cost-of-living
File Size : 35.93 MB
Format : PDF, Mobi
Download : 123
Read : 998

Category: Adjustments, Cost-of-living

Introduction To Dynamic Macroeconomic General Equilibrium Models Second Edition

Author : José L. Torres
ISBN : 9781622739769
Genre : Business & Economics
File Size : 58.94 MB
Format : PDF, Kindle
Download : 233
Read : 422

This book offers an introductory step-by-step course in Dynamic Stochastic General Equilibrium (DSGE) modelling. Modern macroeconomic analysis is increasingly concerned with the construction, calibration and/or estimation and simulation of DSGE models. The book is intended for graduate students as an introductory course to DSGE modelling and for those economists who would like a hands-on approach to learning the basics of modern dynamic macroeconomic modelling. The book starts with the simplest canonical neoclassical DSGE model and then gradually extends the basic framework incorporating a variety of additional features, such as consumption habit formation, investment adjustment cost, investment-specific technological change, taxes, public capital, household production, non-ricardian agents, monopolistic competition, etc. The book includes Dynare codes for the models developed that can be downloaded from the book’s homepage. The second edition is identical to the first with the exception of a revised appendix to Chapter 2. The revised appendix can be downloaded free of charge in the accompanying downloads section.
Category: Business & Economics

Policy Evaluation With Computable General Equilibrium Models

Author : Amedeo Fossati
ISBN : 9781134518807
Genre : Business & Economics
File Size : 45.64 MB
Format : PDF, ePub, Mobi
Download : 261
Read : 913

Computable General Equilibrium (CGE) modelling is a relatively new field in economics, however, it is rapidly becoming one of the most useful tools for policy evaluation. This book applies CGE modelling to some of the most urgent international economic policy problems, including the Kyoto Protocol, pension reform, and income taxation, and also analyses the methodological issues that arise.
Category: Business & Economics

Ph D Thesis

Author : Tobias Nybo Rasmussen
ISBN : OCLC:946763509
Genre :
File Size : 59.55 MB
Format : PDF, Mobi
Download : 819
Read : 930

Category:

Relative Price Movements In Dynamic General Equilibrium Models Of International Trade

Author : David Backus
ISBN : UCSD:31822015044167
Genre : Balance of trade
File Size : 59.38 MB
Format : PDF, Mobi
Download : 725
Read : 1277

We examine the behavior of international relative prices from the perspective of dynamic general equilibrium theory, with particular emphasis on the variability of the terms of trade and the relation between the terms of trade and net exports. We highlight aspects of the theory that are critical in determining these properties, contrast our perspective with those associated with the Marshall-Lerner condition and the Harberger-Laursen-Metzler effect, and point out features of the data that have proved difficult to explain within existing dynamic general equilibrium models.
Category: Balance of trade

Solving Dynamic General Equilibrium Models Using A Second Order Approximation To The Policy Function

Author : Stephanie Schmitt-Grohé
ISBN : UCSC:32106016630805
Genre : Allgemeines Gleichgewicht / Dynamisches Modell / Rationale Erwartung / Theorie
File Size : 27.36 MB
Format : PDF
Download : 373
Read : 1064

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.
Category: Allgemeines Gleichgewicht / Dynamisches Modell / Rationale Erwartung / Theorie

Dynamic General Equilibrium Modelling For Forecasting And Policy

Author : Peter B. Dixon
ISBN : 0444512608
Genre : Business & Economics
File Size : 31.66 MB
Format : PDF, ePub, Mobi
Download : 465
Read : 377

The "Contributions to Economic Analysis" series consists of a number of previously unpublished studies. The term economic analysis is used because it covers the activities of the theoretical economist and the research worker.
Category: Business & Economics