Read more
Zusatztext Review from previous edition 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. Informationen zum Autor Ramon Marimon is Professor of Economics at the European University Institute, Florence.Andrew Scott is Associate Professor at the London Business School, and a Fellow of CEPR. He has taught at the LSE, Oxford, and Harvard University, and is an academic consultant to the Bank of England. Klappentext Economists are increasingly using computer simulations to understand the implications of their theoretical models and to make policy recommendations. This volume brings together leaders in the field who explain how to implement the computational techniques needed to solve dynamic economics models. Zusammenfassung 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. 1. Introduction; 2. Linear Quadratic Approximations: An Introduction; 3. A Toolkit for Analyzing Nonlinear Dynamic Stochastic Models Easily; 4. Solving Nonlinear Rational Expectations Models by Eigenvalue-Eigenvector Decompositions; Part II. Non-Linear Methods; 6. Application of Weighted Residual Methods to Dynamic Economic Models; 7. The Parametrized Expectations Approach: Some Practical Issues; 8. Finite-Difference Methods for Continuous-Time Dynamic Programming; Part III. Solving some dynamic economies; 10. Computing Models of Social Security; 11. Computation of Equilibria in Heterogenous Agent Economies...
Summary
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.
