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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.
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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?
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1
Dynamic general equilibrium modeling: computational methods and applications
2009, Springer
in English
- 2nd ed.
3540856846 9783540856849
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2
Dynamic General Equilibrium Modeling: Computational Methods and Applications
2009, Springer
9783642031489
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3
Dynamic General Equilibrium Modeling: Computational Methods and Applications
2009, Springer London, Limited
in English
3540856854 9783540856856
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5
Dynamic General Equilibrium Modelling: Computational Methods and Applications
2005, Springer London, Limited
in English
3540273123 9783540273127
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6
Dynamic general equilibrium modelling: computational methods and applications
2005, Springer
in English
354022095X 9783540220954
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7
Dynamic General Equilibrium Modelling: Computational Methods and Applications
2005, Springer
Hardcover
in English
354022095X 9783540220954
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Book Details
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."
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