Exercises In Dynamic Macroeconomic Theory

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Exercises in Dynamic Macroeconomic Theory

Rodolfo E. Manuelli,Thomas J Sargent
Exercises in Dynamic Macroeconomic Theory Book PDF

Author : Rodolfo E. Manuelli,Thomas J Sargent
Publisher : Harvard University Press
Page : 242 pages
File Size : 48,6 Mb
Release : 2009-06-01
Category : Business & Economics
ISBN : 0674040570

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Exercises in Dynamic Macroeconomic Theory by Rodolfo E. Manuelli,Thomas J Sargent Pdf

This book is a companion volume to Dynamic Macroeconomic Theory by Thomas J. Sargent. It provides scrimmages in dynamic macroeconomic theory--precisely the kind of drills that people will need in order to learn the techniques of dynamic programming and its applications to economics. By doing these exercises, the reader can acquire the ability to put the theory to work in a variety of new situations, build technical skill, gain experience in fruitful ways of setting up problems, and learn to distinguish cases in which problems are well posed from cases in which they are not.The basic framework provided by variants of a dynamic general equilibrium model is used to analyze problems in macroeconomics and monetary economics. An equilibrium model provides a mapping from parameters of preferences, technologies, endowments, and "rules of the game" to a probability model for time series. The rigor of the logical connections between theory and observations that the mapping provides is an attractive feature of dynamic equilibrium, or "rational expectations," models. This book gives repeated and varied practice in constructing and interpreting this mapping.

Dynamic Macroeconomic Theory

Thomas J. Sargent
Dynamic Macroeconomic Theory Book PDF

Author : Thomas J. Sargent
Publisher : Harvard University Press
Page : 392 pages
File Size : 42,5 Mb
Release : 2009-06-01
Category : Business & Economics
ISBN : 0674043081

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Dynamic Macroeconomic Theory by Thomas J. Sargent Pdf

The tasks of macroeconomics are to interpret observations on economic aggregates in terms of the motivations and constraints of economic agents and to predict the consequences of alternative hypothetical ways of administering government economic policy. General equilibrium models form a convenient context for analyzing such alternative government policies. In the past ten years, the strengths of general equilibrium models and the corresponding deficiencies of Keynesian and monetarist models of the 1960s have induced macroeconomists to begin applying general equilibrium models. This book describes some general equilibrium models that are dynamic, that have been built to help interpret time-series of observations of economic aggregates and to predict the consequences of alternative government interventions. The first part of the book describes dynamic programming, search theory, and real dynamic capital pricing models. Among the applications are stochastic optimal growth models, matching models, arbitrage pricing theories, and theories of interest rates, stock prices, and options. The remaining parts of the book are devoted to issues in monetary theory; currency-in-utility-function models, cash-in-advance models, Townsend turnpike models, and overlapping generations models are all used to study a set of common issues. By putting these models to work on concrete problems in exercises offered throughout the text, Sargent provides insights into the strengths and weaknesses of these models of money. An appendix on functional analysis shows the unity that underlies the mathematics used in disparate areas of rational expectations economics. This book on dynamic equilibrium macroeconomics is suitable for graduate-level courses; a companion book, Exercises in Dynamic Macroeconomic Theory, provides answers to the exercises and is also available from Harvard University Press.

Recursive Macroeconomic Theory, fourth edition

Lars Ljungqvist,Thomas J. Sargent
Recursive Macroeconomic Theory fourth edition Book PDF

Author : Lars Ljungqvist,Thomas J. Sargent
Publisher : MIT Press
Page : 1477 pages
File Size : 43,8 Mb
Release : 2018-09-11
Category : Business & Economics
ISBN : 9780262038669

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Recursive Macroeconomic Theory, fourth edition by Lars Ljungqvist,Thomas J. Sargent Pdf

The substantially revised fourth edition of a widely used text, offering both an introduction to recursive methods and advanced material, mixing tools and sample applications. Recursive methods provide powerful ways to pose and solve problems in dynamic macroeconomics. Recursive Macroeconomic Theory offers both an introduction to recursive methods and more advanced material. Only practice in solving diverse problems fully conveys the advantages of the recursive approach, so the book provides many applications. This fourth edition features two new chapters and substantial revisions to other chapters that demonstrate the power of recursive methods. One new chapter applies the recursive approach to Ramsey taxation and sharply characterizes the time inconsistency of optimal policies. These insights are used in other chapters to simplify recursive formulations of Ramsey plans and credible government policies. The second new chapter explores the mechanics of matching models and identifies a common channel through which productivity shocks are magnified across a variety of matching models. Other chapters have been extended and refined. For example, there is new material on heterogeneous beliefs in both complete and incomplete markets models; and there is a deeper account of forces that shape aggregate labor supply elasticities in lifecycle models. The book is suitable for first- and second-year graduate courses in macroeconomics. Most chapters conclude with exercises; many exercises and examples use Matlab or Python computer programming languages.

Introduction to Dynamic Macroeconomic Theory

George T. McCandless,Neil Wallace
Introduction to Dynamic Macroeconomic Theory Book PDF

Author : George T. McCandless,Neil Wallace
Publisher : Harvard University Press
Page : 392 pages
File Size : 41,8 Mb
Release : 1991
Category : Business & Economics
ISBN : 0674461118

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Introduction to Dynamic Macroeconomic Theory by George T. McCandless,Neil Wallace Pdf

Economies are constantly in flux, and economists have long sought reliable means of analyzing their dynamic properties. This book provides a succinct and accessible exposition of modern dynamic (or intertemporal) macroeconomics. The authors use a microeconomics-based general equilibrium framework, specifically the overlapping generations model, which assumes that in every period there are two generations which overlap. This model allows the authors to fully describe economies over time and to employ traditional welfare analysis to judge the effects of various policies. By choosing to keep the mathematical level simple and to use the same modeling framework throughout, the authors are able to address many subtle economic issues. They analyze savings, social security systems, the determination of interest rates and asset prices for different types of assets, Ricardian equivalence, business cycles, chaos theory, investment, growth, and a variety of monetary phenomena. Introduction to Dynamic Macroeconomic Theory will become a classic of economic exposition and a standard teaching and reference tool for intertemporal macroeconomics and the overlapping generations model. The writing is exceptionally clear. Each result is illustrated with analytical derivations, graphically, and by worked out examples. Exercises, which are strategically placed, are an integral part of the book.

Dynamic Macroeconomics

George Alogoskoufis
Dynamic Macroeconomics Book PDF

Author : George Alogoskoufis
Publisher : MIT Press
Page : 801 pages
File Size : 50,7 Mb
Release : 2019-12-17
Category : Business & Economics
ISBN : 9780262355124

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Dynamic Macroeconomics by George Alogoskoufis Pdf

An advanced treatment of modern macroeconomics, presented through a sequence of dynamic equilibrium models, with discussion of the implications for monetary and fiscal policy. This textbook offers an advanced treatment of modern macroeconomics, presented through a sequence of dynamic general equilibrium models based on intertemporal optimization on the part of economic agents. The book treats macroeconomics as applied and policy-oriented general equilibrium analysis, examining a number of models, each of which is suitable for investigating specific issues but may be unsuitable for others. After presenting a brief survey of the evolution of macroeconomics and the key facts about long-run economic growth and aggregate fluctuations, the book introduces the main elements of the intertemporal approach through a series of two-period competitive general equilibrium models—the simplest possible intertemporal models. This sets the stage for the remainder of the book, which presents models of economic growth, aggregate fluctuations, and monetary and fiscal policy. The text focuses on a full analysis of a limited number of key intertemporal models, which are stripped down to essentials so that students can focus on the dynamic properties of the models. Exercises encourage students to try their hands at solving versions of the dynamic models that define modern macroeconomics. Appendixes review the main mathematical techniques needed to analyze optimizing dynamic macroeconomic models. The book is suitable for advanced undergraduate and graduate students who have some knowledge of economic theory and mathematics for economists.

Macroeconomic Theory

Thomas J. Sargent
Macroeconomic Theory Book PDF

Author : Thomas J. Sargent
Publisher : Unknown
Page : 432 pages
File Size : 45,8 Mb
Release : 1979
Category : Business & Economics
ISBN : STANFORD:36105004676917

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Macroeconomic Theory by Thomas J. Sargent Pdf

Macroeconomic Theory, in its first edition, was widely adopted for use as a graduate text; this updated and expanded version should find even greater popularity as a text and as a research reference. It has been substantially revised to include three entirely new chapters: The Consumption Function, Government Debt and Taxes, and Dynamic Optimal Taxation. Significant additions have been made to three of the original chapters dealing with difference equations, stochastic difference equations, and investment under uncertainty.Key Features* This book has been substantially revised to include three entirely new chapters on consumption, government debt and taxes, and dynamic optimal taxation* Significant additions have been made to three of the original chapters dealing with difference equations, stochastic difference equations, and investment under uncertainty

Macroeconomic Theory

Michael Wickens
Macroeconomic Theory Book PDF

Author : Michael Wickens
Publisher : Princeton University Press
Page : 617 pages
File Size : 46,5 Mb
Release : 2012-03-12
Category : Business & Economics
ISBN : 9781400842476

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Macroeconomic Theory by Michael Wickens Pdf

The definitive graduate textbook on modern macroeconomics Macroeconomic Theory is the most up-to-date graduate-level macroeconomics textbook available today. This revised second edition emphasizes the general equilibrium character of macroeconomics to explain effects across the whole economy while taking into account recent research in the field. It is the perfect resource for students and researchers seeking coverage of the most current developments in macroeconomics. Michael Wickens lays out the core ideas of modern macroeconomics and its links with finance. He presents the simplest general equilibrium macroeconomic model for a closed economy, and then gradually develops a comprehensive model of the open economy. Every important topic is covered, including growth, business cycles, fiscal policy, taxation and debt finance, current account sustainability, and exchange-rate determination. There is also an up-to-date account of monetary policy through inflation targeting. Wickens addresses the interrelationships between macroeconomics and modern finance and shows how they affect stock, bond, and foreign-exchange markets. In this edition, he also examines issues raised by the most recent financial crisis, and two new chapters explore banks, financial intermediation, and unconventional monetary policy, as well as modern theories of unemployment. There is new material in most other chapters, including macrofinance models and inflation targeting when there are supply shocks. While the mathematics in the book is rigorous, the fundamental concepts presented make the text self-contained and easy to use. Accessible, comprehensive, and wide-ranging, Macroeconomic Theory is the standard book on the subject for students and economists. The most up-to-date graduate macroeconomics textbook available today General equilibrium macroeconomics and the latest advances covered fully and completely Two new chapters investigate banking and monetary policy, and unemployment Addresses questions raised by the recent financial crisis Web-based exercises with answers Extensive mathematical appendix for at-a-glance easy reference This book has been adopted as a textbook at the following universities: American University Bentley College Brandeis University Brigham Young University California Lutheran University California State University - Sacramento Cardiff University Carleton University Colorado College Fordham University London Metropolitan University New York University Northeastern University Ohio University - Main Campus San Diego State University St. Cloud State University State University Of New York - Amherst Campus State University Of New York - Buffalo North Campus Temple University - Main Texas Tech University University of Alberta University Of Notre Dame University Of Ottawa University Of Pittsburgh University Of South Florida - Tampa University Of Tennessee University Of Texas At Dallas University Of Washington University of Western Ontario Wesleyan University Western Nevada Community College

Workbook for Methods of Macroeconomic Dynamics

Stephen J. Turnovsky,Michael K. Hendrickson
Workbook for Methods of Macroeconomic Dynamics Book PDF

Author : Stephen J. Turnovsky,Michael K. Hendrickson
Publisher : MIT Press (MA)
Page : 136 pages
File Size : 50,5 Mb
Release : 1996
Category : Estática y dinámica (Ciencias sociales)
ISBN : 0262700581

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Workbook for Methods of Macroeconomic Dynamics by Stephen J. Turnovsky,Michael K. Hendrickson Pdf

This workbook with exercises and solutions accompanies Turnovsky's textbook, "Methods of Macroeconomic Dynamics." There are fourteen chapters of exercises which are intended to help students master the basic methods of macroeconomic dynamic analysis.

Macroeconomic Analysis

Dirk Niepelt
Macroeconomic Analysis Book PDF

Author : Dirk Niepelt
Publisher : MIT Press
Page : 318 pages
File Size : 44,5 Mb
Release : 2019-12-31
Category : Business & Economics
ISBN : 9780262043472

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Macroeconomic Analysis by Dirk Niepelt Pdf

A concise but rigorous and thorough introduction to modern macroeconomic theory. This book offers an introduction to modern macroeconomic theory. It is concise but rigorous and broad, covering all major areas in mainstream macroeconomics today and showing how macroeconomic models build on and relate to each other. The self-contained text begins with models of individual decision makers, proceeds to models of general equilibrium without and with friction, and, finally, presents positive and normative theories of economic policy. After a review of the microeconomic foundations of macroeconomics, the book analyzes the household optimization problem, the representative household model, and the overlapping generations model. It examines risk and the implications for household choices and macroeconomic outcomes; equilibrium asset returns, prices, and bubbles; labor supply, growth, and business cycles; and open economy issues. It introduces frictions and analyzes their consequences in the labor market, financial markets, and for investment; studies money as a unit of account, store of value, and medium of exchange; and analyzes price setting in general equilibrium. Turning to government and economic policy, the book covers taxation, debt, social security, and monetary policy; optimal fiscal and monetary policies; and sequential policy choice, with applications in capital income taxation, sovereign debt and default, politically motivated redistribution, and monetary policy biases. Macroeconomic Analysis can be used by first-year graduate students in economics and students in master's programs, and as a supplemental text for advanced courses.

Dynamic Econometrics For Empirical Macroeconomic Modelling

Ragnar Nymoen
Dynamic Econometrics For Empirical Macroeconomic Modelling Book PDF

Author : Ragnar Nymoen
Publisher : World Scientific
Page : 586 pages
File Size : 45,8 Mb
Release : 2019-07-09
Category : Business & Economics
ISBN : 9789811207532

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Dynamic Econometrics For Empirical Macroeconomic Modelling by Ragnar Nymoen Pdf

For Masters and PhD students in EconomicsIn this textbook, the duality between the equilibrium concept used in dynamic economic theory and the stationarity of economic variables is explained and used in the presentation of single equations models and system of equations such as VARs, recursive models and simultaneous equations models.The book also contains chapters on: exogeneity, in the context of estimation, policy analysis and forecasting; automatic (computer based) variable selection, and how it can aid in the specification of an empirical macroeconomic model; and finally, on a common framework for model-based economic forecasting.Supplementary materials and notes are available on the publisher's website.

Methods for Applied Macroeconomic Research

Fabio Canova
Methods for Applied Macroeconomic Research Book PDF

Author : Fabio Canova
Publisher : Princeton University Press
Page : 512 pages
File Size : 51,7 Mb
Release : 2011-09-19
Category : Business & Economics
ISBN : 9781400841028

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Methods for Applied Macroeconomic Research by Fabio Canova Pdf

The last twenty years have witnessed tremendous advances in the mathematical, statistical, and computational tools available to applied macroeconomists. This rapidly evolving field has redefined how researchers test models and validate theories. Yet until now there has been no textbook that unites the latest methods and bridges the divide between theoretical and applied work. Fabio Canova brings together dynamic equilibrium theory, data analysis, and advanced econometric and computational methods to provide the first comprehensive set of techniques for use by academic economists as well as professional macroeconomists in banking and finance, industry, and government. This graduate-level textbook is for readers knowledgeable in modern macroeconomic theory, econometrics, and computational programming using RATS, MATLAB, or Gauss. Inevitably a modern treatment of such a complex topic requires a quantitative perspective, a solid dynamic theory background, and the development of empirical and numerical methods--which is where Canova's book differs from typical graduate textbooks in macroeconomics and econometrics. Rather than list a series of estimators and their properties, Canova starts from a class of DSGE models, finds an approximate linear representation for the decision rules, and describes methods needed to estimate their parameters, examining their fit to the data. The book is complete with numerous examples and exercises. Today's economic analysts need a strong foundation in both theory and application. Methods for Applied Macroeconomic Research offers the essential tools for the next generation of macroeconomists.

Macroeconomic Theory

Mike Wickens
Macroeconomic Theory Book PDF

Author : Mike Wickens
Publisher : Unknown
Page : 0 pages
File Size : 49,5 Mb
Release : 2011
Category : BUSINESS & ECONOMICS
ISBN : 1283379708

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Macroeconomic Theory by Mike Wickens Pdf

And unemployment Addresses questions raised by the recent financial crisis Web-based exercises with answers Extensive mathematical appendix for at-a-glance easy reference.

Dynamic Macroeconomics

George Alogoskoufis
Dynamic Macroeconomics Book PDF

Author : George Alogoskoufis
Publisher : MIT Press
Page : 801 pages
File Size : 51,9 Mb
Release : 2019-12-17
Category : Business & Economics
ISBN : 9780262043014

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Dynamic Macroeconomics by George Alogoskoufis Pdf

An advanced treatment of modern macroeconomics, presented through a sequence of dynamic equilibrium models, with discussion of the implications for monetary and fiscal policy. This textbook offers an advanced treatment of modern macroeconomics, presented through a sequence of dynamic general equilibrium models based on intertemporal optimization on the part of economic agents. The book treats macroeconomics as applied and policy-oriented general equilibrium analysis, examining a number of models, each of which is suitable for investigating specific issues but may be unsuitable for others. After presenting a brief survey of the evolution of macroeconomics and the key facts about long-run economic growth and aggregate fluctuations, the book introduces the main elements of the intertemporal approach through a series of two-period competitive general equilibrium models—the simplest possible intertemporal models. This sets the stage for the remainder of the book, which presents models of economic growth, aggregate fluctuations, and monetary and fiscal policy. The text focuses on a full analysis of a limited number of key intertemporal models, which are stripped down to essentials so that students can focus on the dynamic properties of the models. Exercises encourage students to try their hands at solving versions of the dynamic models that define modern macroeconomics. Appendixes review the main mathematical techniques needed to analyze optimizing dynamic macroeconomic models. The book is suitable for advanced undergraduate and graduate students who have some knowledge of economic theory and mathematics for economists.

Workbook for Macroeconomic Theory

Fernando de Holanda Barbosa,Luiz Antônio de Lima Junior
Workbook for Macroeconomic Theory Book PDF

Author : Fernando de Holanda Barbosa,Luiz Antônio de Lima Junior
Publisher : Springer Nature
Page : 334 pages
File Size : 53,5 Mb
Release : 2021-03-03
Category : Business & Economics
ISBN : 9783030615482

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Workbook for Macroeconomic Theory by Fernando de Holanda Barbosa,Luiz Antônio de Lima Junior Pdf

This workbook presents the answers to the exercises in Macroeconomic Theory, Fluctuations, Inflation and Growth in Closed and Open Economies by Fernando de Holanda Barbosa (2018). Altogether, there are 172 exercises in eleven chapters and three appendices. The organization of this workbook follows the organization of the main text. The first part deals with flexible price models, including the representative agent model, the overlapping generations model, and the Solow growth model. The second part covers sticky price models; both Keynesian and Neoclassical. The third part presents exercises on the government budget constraint and monetary theory issues. There are two types of exercises in this workbook. The first type provides the student with material to practice for a full understanding the subjects presented in the text. The second type covers topics that are not dealt with in the main text, but are included for the sake of completeness. These exercises are marked with an asterisk and can be solved using the tools presented in the corresponding textbook chapter or appendix.

Recursive Methods in Economic Dynamics

Nancy L. Stokey
Recursive Methods in Economic Dynamics Book PDF

Author : Nancy L. Stokey
Publisher : Harvard University Press
Page : 607 pages
File Size : 46,6 Mb
Release : 1989-10-10
Category : Business & Economics
ISBN : 9780674735187

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Recursive Methods in Economic Dynamics by Nancy L. Stokey Pdf

This rigorous but brilliantly lucid book presents a self-contained treatment of modern economic dynamics. Stokey, Lucas, and Prescott develop the basic methods of recursive analysis and illustrate the many areas where they can usefully be applied.