Dynamic General Equilibrium Modeling
Autor Burkhard Heer, Alfred Maußneren Limba Engleză Hardback – 24 noi 2008
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.
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Specificații
ISBN-13: 9783540856849
ISBN-10: 3540856846
Pagini: 736
Ilustrații: XXXII, 702 p.
Dimensiuni: 160 x 241 x 45 mm
Greutate: 1.26 kg
Ediția:Second Edition 2009
Editura: Springer
Locul publicării:Berlin, Heidelberg, Germany
ISBN-10: 3540856846
Pagini: 736
Ilustrații: XXXII, 702 p.
Dimensiuni: 160 x 241 x 45 mm
Greutate: 1.26 kg
Ediția:Second Edition 2009
Editura: Springer
Locul publicării:Berlin, Heidelberg, Germany
Public țintă
ResearchCuprins
Representative Agent Models.- Basic Models.- Perturbation Methods.- Deterministic Extended Path.- Discrete State Space Methods.- Parameterized Expectations.- Projection Methods.- Heterogeneous Agent Models.- Computation of Stationary Distributions.- Dynamics of the Distribution function.- Deterministic Overlapping Generations Models.- Stochastic Overlapping Generations Models.- Tools.- Numerical Methods.- Various Other Tools.
Recenzii
From the reviews of the second edition:
“The book is devoted to the presentation of such methods applied to solving a variety of discrete stochastic and deterministic DGE models in infinite time horizon. The way the book is written enables to use it as a lecture book for courses on computational methods in macroeconomics or modern dynamic equilibrium modeling for graduate students. There are given many useful practical hints on using the methods in practice - this makes the book very valuable for practical users of DGE models.” (Piotr Mackowiak, Zentralblatt MATH, Vol. 1200, 2011)
“The book is devoted to the presentation of such methods applied to solving a variety of discrete stochastic and deterministic DGE models in infinite time horizon. The way the book is written enables to use it as a lecture book for courses on computational methods in macroeconomics or modern dynamic equilibrium modeling for graduate students. There are given many useful practical hints on using the methods in practice - this makes the book very valuable for practical users of DGE models.” (Piotr Mackowiak, Zentralblatt MATH, Vol. 1200, 2011)
Textul de pe ultima copertă
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 part II, the authors discuss methods in order to solve heterogeneous-agent economies. 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 demographic transition in a large-scale overlapping generations model.
In an accompanying home page to this book, computer codes to all applications can be downloaded.
"This is perhaps the perfect book to learn how to solve quantitative macroeconomics models. Its balance between theory, choice of models, computational insights and use of examples make it an excellent teaching tool. One of the very few books a professional macroeconomist should have: I always learn something important when I consult it."
José-Víctor Ríos Rull, University of Minnesota
"This book not only does an excellent job in explaining the existing tools, but it also teaches the reader on how to write her/his own programs and it provides the reader with the tools to help advance the state of the art of dynamic macroeconomics. "
Wouter J. Den Haan, University of Amsterdam
"This is an excellent book for economists who do quantitative research. It will be an invaluable teaching tool for graduate macroeconomic courses."
Ayse Imrohoroglu, University of Southern California
"… provides the reader with exactly the necessary computational tools to solve the dynamic general equilibrium models macroeconomists care about. It is therefore the perfect complement to Stokey, Lucas and Prescott's and Sargent and Ljungqvist's theoretical treatment of modern macroeconomics."
Dirk Krueger, University of Pennsylvania
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 part II, the authors discuss methods in order to solve heterogeneous-agent economies. 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 demographic transition in a large-scale overlapping generations model.
In an accompanying home page to this book, computer codes to all applications can be downloaded.
"This is perhaps the perfect book to learn how to solve quantitative macroeconomics models. Its balance between theory, choice of models, computational insights and use of examples make it an excellent teaching tool. One of the very few books a professional macroeconomist should have: I always learn something important when I consult it."
José-Víctor Ríos Rull, University of Minnesota
"This book not only does an excellent job in explaining the existing tools, but it also teaches the reader on how to write her/his own programs and it provides the reader with the tools to help advance the state of the art of dynamic macroeconomics. "
Wouter J. Den Haan, University of Amsterdam
"This is an excellent book for economists who do quantitative research. It will be an invaluable teaching tool for graduate macroeconomic courses."
Ayse Imrohoroglu, University of Southern California
"… provides the reader with exactly the necessary computational tools to solve the dynamic general equilibrium models macroeconomists care about. It is therefore the perfect complement to Stokey, Lucas and Prescott's and Sargent and Ljungqvist's theoretical treatment of modern macroeconomics."
Dirk Krueger, University of Pennsylvania
Caracteristici
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 Second edition with three additional chapters and several new applications Includes supplementary material: sn.pub/extras
Descriere
Descriere de la o altă ediție sau format:
This third edition maintains the structure of the second, dividing the content into three separate parts dedicated to representative agent models, heterogeneous agent models, and numerical methods.
This third edition maintains the structure of the second, dividing the content into three separate parts dedicated to representative agent models, heterogeneous agent models, and numerical methods.
Notă biografică
Burkhard Heer is a professor of public economics at the University of Augsburg, Germany. Previously, he was professor of economics at the Universities of Bolzano, Bamberg, and Innsbruck. Burkhard Heer received his PhD in economics from the University of Cologne, Germany, in 1996. He was visiting scholar at various institutions including Georgetown University, Stanford University, Fordham University at New York, University of Quebec at Montreal, University Pompeu Fabra in Barcelona and the Federal Reserve Bank at St. Louis. Burkhard Heer is also affiliated with the Center for Economic Studies (CESifo), Munich, and NETSPAR, Tilburg. His research interests include public economics and macroeconomics. He also published a Springer textbook on “Public Economics”.
Alfred Maußner is a professor of empirical macroeconomics at the University of Augsburg, Germany. Previously he was professor of economics at the Universities of Bamberg and Cologne. He received his PhD in Economics at the University of Erlangen-Nuremberg in 1984. He was visiting scholar at the University of Athens, Georgia and the University of California in Los Angeles. His research interests include economic growth, business cycles, and computational methods. He is author/co-author of several textbooks published in German.
Alfred Maußner is a professor of empirical macroeconomics at the University of Augsburg, Germany. Previously he was professor of economics at the Universities of Bamberg and Cologne. He received his PhD in Economics at the University of Erlangen-Nuremberg in 1984. He was visiting scholar at the University of Athens, Georgia and the University of California in Los Angeles. His research interests include economic growth, business cycles, and computational methods. He is author/co-author of several textbooks published in German.