Computational Methods for the Study of Dynamic Economies
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Product details:
- Publisher OUP Oxford
- Date of Publication 4 March 1999
- ISBN 9780198294979
- Binding Hardback
- No. of pages292 pages
- Size 242x164x21 mm
- Weight 565 g
- Language English
- Illustrations numerous figures 0
Categories
Short description:
Economists are increasingly using computer simulations to understand the implications of their theoretical models and to make policy recommendations. New model solution techniques are required to deal with the increasingly important role of dynamics and uncertainty in macroeconomics. This book consists of articles by leading contributors in the field showing how to use these techniques in the context of standard macroeconomic models.
MoreLong description:
Macroeconomics increasingly uses stochastic dynamic general equilibrium models to understand theoretical and policy issues. Unless very strong assumptions are made, understanding the properties of particular models requires solving the model using a computer. This volume brings together leading contributors in the field who explain in detail how to implement the computational techniques needed to solve dynamic economics models. A broad spread of techniques are covered, and their application in a wide range of subjects discussed. The book provides the basics of a toolkit which researchers and graduate students can use to solve and analyse their own theoretical models.
an excellent introduction to computational methods for the study of stochastic rational expectations models. Leading researchers in the field cover the main numerical techniques currently applied in the computation of business cycle and growth models. Possibly the greatest merit of this volume is to provide a basis for graduate students from which they can start their own research.
Table of Contents:
IntroductionAlmost Linear Methods
Linear Quadratic Approximations: An Introduction
A Toolkit for Analyzing Nonlinear Dynamic Stochastic Models Easily
Solving Nonlinear Rational Expectations Models by Eigenvalue-Eigenvector Decompositions
Non-Linear MethodsDiscrete State-Space Methods for the Study of Dynamic Economies
Application of Weighted Residual Methods to Dynamic Economic Models
The Parametrized Expectations Approach: Some Practical Issues
Finite-Difference Methods for Continuous-Time Dynamic Programming
Solving some dynamic economiesOptimal Fiscal Policy in a Linear Stochastic Economy
Computing Models of Social Security
Computation of Equilibria in Heterogenous Agent Economies
