Computational Methods for the Study of Dynamic Economies

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Ramon Marimon, Andrew Scott
OUP Oxford, Mar 4, 1999 - Business & Economics - 292 pages
Macroeconomics increasingly uses stochastic dynamic general equilibrium models to understand theoretical and policy issues. Unless very strong assumptions are made, understanding the properties of particular models requires solving the model using a computer. This volume brings together leading contributors in the field who explain in detail how to implement the computational techniques needed to solve dynamic economics models. A broad spread of techniques are covered, and their application in a wide range of subjects discussed. The book provides the basics of a toolkit which researchers and graduate students can use to solve and analyse their own theoretical models.
 

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Contents

INTRODUCTION FROM PIPELINE ECONOMICS TO COMPUTATIONAL ECONOMICS
1
LINEAR QUADRATIC APPROXIMATIONS AN INTRODUCTION
13
A TOOLKIT FOR ANALYSING NONLINEAR DYNAMIC STOCHASTIC MODELS EASILY
30
SOLVING NONLINEAR RATIONAL EXPECTATIONS MODELS BY EIGENVALUEEIGENVECTOR DECOMPOSITIONS
62
DISCRETE STATESPACE METHODS FOR THE STUDY OF DYNAMIC ECONOMIES
95
APPLICATION OF WEIGHTED RESIDUAL METHODS TO DYNAMIC ECONOMIC MODELS
114
THE PARAMETERIZED EXPECTATIONS APPROACH SOME PRACTICAL ISSUES
143
FINITEDIFFERENCE METHODS FOR CONTINUOUSTIME DYNAMIC PROGRAMMING
172
OPTIMAL FISCAL POLICY IN A LINEAR STOCHASTIC ECONOMY
197
COMPUTING MODELS OF SOCIAL SECURITY
221
COMPUTATION OF EQUILIBRIA IN HETEROGENEOUSAGENT MODELS
238
REFERENCES
265
SUBJECT INDEX
275
AUTHOR INDEX
279
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About the author (1999)

Ramon Marimon is Professor at the European University Institute, Florence. Andrew Scott is Associate Professor at the London Business School, and a Fellow of CEPR. A Fellow of All Souls College, Oxford, he has also been Visiting Professor at Harvard University.

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