Dynamic general equilibrium modeling :
Heer, Burkhard
Dynamic general equilibrium modeling : computational methods and applications / Burkhard Heer and Alfred Maubner - 2nd ed - Heidelberg : Springer, 2009 - xxxi, 704 p. 24 cm
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.
9783540856849
Dynamische Makrootkonomie--Allgemeines Gleichgewichtsmodell.
Economics, Mathematical
Equilibrium (Economics)--Mathematical models
330.015118 / HEE
Dynamic general equilibrium modeling : computational methods and applications / Burkhard Heer and Alfred Maubner - 2nd ed - Heidelberg : Springer, 2009 - xxxi, 704 p. 24 cm
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.
9783540856849
Dynamische Makrootkonomie--Allgemeines Gleichgewichtsmodell.
Economics, Mathematical
Equilibrium (Economics)--Mathematical models
330.015118 / HEE