Introduction to dynamic macroeconomic general equilibrium models
This book offers an introductory step-by-step course in Dynamic Stochastic General Equilibrium (DSGE) modelling. Modern macroeconomic analysis is increasingly concerned with the construction, calibration and/or estimation and simulation of DSGE models. The book is intended for graduate students as an introductory course to DSGE modelling and for those economists who would like a hands-on approach to learning the basics of modern dynamic macroeconomic modelling. The book starts with the simplest…
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- Full title :Introduction to dynamic macroeconomic general equilibrium models / José L. Torres.
Summary
This book offers an introductory step-by-step course in Dynamic Stochastic General Equilibrium (DSGE) modelling. Modern macroeconomic analysis is increasingly concerned with the construction, calibration and/or estimation and simulation of DSGE models. The book is intended for graduate students as an introductory course to DSGE modelling and for those economists who would like a hands-on approach to learning the basics of modern dynamic macroeconomic modelling. The book starts with the simplest canonical neoclassical DSGE model and then gradually extends the basic framework incorporating a var.
Read More ↓Edition Statements
- Publication Date:©2016
Publication Statements
- Publisher(s):Vernon Press
- Place of Publication:Wilmington, Delaware
- Language:eng
- Publication Date:©2016
The Physical Object
- Description:1 online resource (269 pages) : : illustrations, tables
Edition Identifiers
- ISBN:9781622730452, 1622730453
- oclc:ocn968696759
- LC Classification:HB172.5
- Dewey Decimal:339
Table of Contents
I Introduction to DSGE modelling; 1 Introduction; 1.1 Macroeconomic DSGE Modelling; 1.2 DSGE software; 1.3 Book organization; 2 The Canonical Dynamic Macroeconomic General Equilibrium model; 2.1 Introduction; 2.2 Households; 2.2.1 Alternative functional forms for the utility function; 2.3 The firms; 2.3.1 Alternative functional forms of the production function; 2.4 Model Equilibrium; 2.4.1 Model Equilibrium (Competitive Equilibrium); 2.4.2 Model Equilibrium (Central Planning); 2.5 The Steady State; 2.6 The Dynamic Stochastic General Equilibrium model
2.7 Equations of the model and calibration2.7.1 Equilibrium equations; 2.7.2 Calibration; 2.8 Aggregate productivity shock; 2.9 Conclusions; II Deviations from the Permanent Income-Life Cycle hypothesis; 3 Habit Formation; 3.1 Introduction; 3.2 Habit formation; 3.3 The model; 3.3.1 Households; 3.3.2 The firms; 3.3.3 Equilibrium; 3.4 Equations of the model and calibration; 3.5 Total Factor Productivity shock; 3.6 Conclusions; 4 Non-Ricardian Agents; 4.1 Introduction; 4.2 Ricardian and Non-Ricardian Agents; 4.3 The model; 4.3.1 Ricardian Households; 4.3.2 Non-Ricardian Households
4.3.3 Aggregation4.3.4 The firms; 4.3.5 Equilibrium of …
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