Check nearby libraries
Buy this book
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.
--back cover
Check nearby libraries
Buy this book
Previews available in: English
Subjects
Mathematical Economics, Mathematical models, Equilibrium (Economics), Evenwichtsmodellen (Economie), Macroeconomics, Endogenous growth (Economics), Economics, Economic policy, mathematical models, Statics and dynamics (social sciences), Allgemeines Gleichgewichtsmodell, Dynamische Makroökonomie, Economics, mathematical, Equilibrium (economics)Showing 7 featured editions. View all 7 editions?
Book Details
Published in
Berlin
First Sentence
"In 1928 Frank Ramsey, a young mathematician, posed the problem "How much of its income should a nation save?" and developed a dynamic model to answer this question."
Table of Contents
Edition Notes
The Physical Object
ID Numbers
Community Reviews (0)
Feedback?History
- Created April 30, 2008
- 13 revisions
Wikipedia citation
×CloseCopy and paste this code into your Wikipedia page. Need help?
August 5, 2023 | Edited by AgentSapphire | //covers.openlibrary.org/b/id/14403502-S.jpg |
August 5, 2023 | Edited by AgentSapphire | ocaid |
August 5, 2023 | Edited by AgentSapphire | Update covers |
July 28, 2019 | Edited by Lisa | Edited without comment. |
April 30, 2008 | Created by an anonymous user | Imported from amazon.com record. |