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Integrates the analysis of theoretical models of economic growth and computational methods to produce numerical solutions
Features a detailed discussion of economic policy issues
Provides Excel and Matlab files on an accompanying website
This is a book on deterministic and stochastic Growth Theory and the computational methods needed to produce numerical solutions. Exogenous and endogenous growth models are thoroughly reviewed. Special attention is paid to the use of these models for fiscal and monetary policy analysis. Modern Business Cycle Theory, the New Keynesian Macroeconomics, the class of Dynamic Stochastic General Equilibrium models, can be all considered as special cases of models of economic growth, and they can be analyzed by the theoretical and numerical procedures provided in the textbook.
Analytical discussions are presented in full detail. The book is self contained and it is designed so that the student advances in the theoretical and the computational issues in parallel. EXCEL and Matlab files are provided on an accompanying website to illustrate theoretical results as well as to simulate the effects of economic policy interventions.
The structure of these program files is described in "Numerical exercise"-type of sections, where the output of these programs is also interpreted.
Content Level »Graduate
Keywords »Business Cycle Theory - Dynamic Stochastic General Equlibrium Model - Growth Theory - Keynes - Numerical Solution Methods - calculus - economic growth - growth - growth model