Overview
- Introduction to the use of numerical methods for solving dynamic general equilibrium models
- Applicable to the models most widely used in modern macroeconomics / monetary economics
- Algorithms and program codes provided on an accompanying website
- Includes supplementary material: sn.pub/extras
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Table of contents (9 chapters)
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Front Matter
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Heterogeneous Agent Models
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Back Matter
Keywords
About this book
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.
Authors and Affiliations
Bibliographic Information
Book Title: Dynamic General Equilibrium Modelling
Book Subtitle: Computational Methods and Applications
Authors: Burkhard Heer, Alfred Maußner
DOI: https://doi.org/10.1007/b138909
Publisher: Springer Berlin, Heidelberg
eBook Packages: Business and Economics, Economics and Finance (R0)
Copyright Information: Springer-Verlag Berlin Heidelberg 2005
eBook ISBN: 978-3-540-27312-7Published: 05 December 2005
Edition Number: 1
Number of Pages: XX, 540
Number of Illustrations: 63 b/w illustrations
Topics: Economic Theory/Quantitative Economics/Mathematical Methods, Macroeconomics/Monetary Economics//Financial Economics, Economic Growth