Dynamic General Equilibrium Modeling: Computational Methods and Applications (Springer Texts in Business and Economics)

Business & Money

Heer, Burkhard

Maußner, Alfred

Economics

Springer

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.

Dynamic General Equilibrium Modelling: Computational Methods and Applications

Springer-Verlag GmbH & Co. KG

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.

Dynamic General Equilibrium Modeling: Computational Methods and Applications

Modern business cycle theory and growth theory uses stochastic dynamic general equilibrium models. A wide variety of mathematical tools are needed to solve these models. This book presents methods used to compute the dynamics of general equilibrium models.

See the best price to sell, buy, or rent books by Heer, Burkhard. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by Heer, Burkhard

See the best price to sell, buy, or rent books by Heer, Burkhard. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Dynamic General Equilibrium Modeling: Computational Methods and Applications (Springer Texts in Business and Economics)

Dynamic General Equilibrium Modelling: Computational Methods and Applications

Dynamic General Equilibrium Modeling: Computational Methods and Applications

Dynamic General Equilibrium Modeling: Computational Methods and Applications