An Introduction to Computational MacroeconomicsThis book presents an introduction to computational macroeconomics, using a new approach to the study of dynamic macroeconomic models. It solves a variety of models in discrete time numerically, using a Microsoft Excel spreadsheet as a computer tool. The solved models include dynamic macroeconomic models with rational expectations, both non-microfounded and microfounded, constituting a novel approach that facilitates the learning and use of dynamic general equilibrium models, which have now become the principal tool for macroeconomic analysis. Spreadsheets are widely known and relatively easy to use, meaning that the computer skills needed to work with dynamic general equilibrium models are affordable for undergraduate students in Advanced Macroeconomics courses. |
Contents
An introduction to computational dynamic systems | 3 |
The dynamic ISLM model | 29 |
Exchange rate overshooting | 51 |
The consumptionsaving optimal decision | 71 |
The government and the fiscal policy | 115 |
The basic dynamic general equilibrium model | 163 |
The neoclassical model of exogenous growth | 197 |
Ramseys optimal growth model | 215 |
Some mathematical concepts | 241 |
An example of | 255 |
The consumer problem | 283 |
Solution of the Dynamic Stochastic | 295 |
Index | 307 |
Other editions - View all
An Introduction to Computational Macroeconomics Anelí Bongers,Trinidad Gómez,José Luis Torres Chacon No preview available - 2020 |
An Introduction to Computational Macroeconomics Anelí Bongers,Trinidad Gómez,José Luis Torres Chacon No preview available - 2020 |
Common terms and phrases
adjustment agent aggregate demand amount analysis appears associated assume behavior calculate calibrated called capital stock cell chapter column condition consider constant constraint consumer consumption corresponding costs decision decrease defined depends depreciation determine deviations discount disturbance dynamic economy effects eigenvalues endogenous equal equation equilibrium equivalent exchange rate exercise existence exogenous variables expectations expression Figure Finally firms future given growth rate hand higher household income increase indicates individual initial instantaneous interest rate intertemporal introduce investment labor supply linear logarithmic matrix maximization means negative nominal numerical obtain occurs optimal output parameters path period physical population positive preference present problem production productive factors profits ratio represents respect returns roots saddle savings shock shows simple solution solve spreadsheet stable steady steady-state value stock of capital structure substituting tool trajectories unit utility function variation zero