The ABCs of RBCs: An Introduction to Dynamic Macroeconomic Models

George McCandless

ISBN 10: 0674028147 / ISBN 13: 9780674028142

Verlag: Harvard University Press, 2008

Beschreibung

2008. 3.1.2008. Hardcover. Offers an introduction to Real Business Cycle (RBC) and New-Keynesian models. This book teaches economic practitioners or students how to build RBC models. It also provides Matlab code for solving many of the models. Num Pages: 448 pages, 78 line illustrations, 27 tables. BIC Classification: KCB. Category: (UU) Undergraduate. Dimension: 243 x 168 x 34. Weight in Grams: 794. . . . . . Books ship from the US and Ireland. Bestandsnummer des Verkäufers V9780674028142

Bibliografische Details

Titel: The ABCs of RBCs: An Introduction to Dynamic...

Verlag: Harvard University Press

Erscheinungsdatum: 2008

Einband: Hardcover

Zustand: New

Über diesen Titel

Inhaltsangabe:

The ABCs of RBCs is the first book to provide a basic introduction to Real Business Cycle (RBC) and New-Keynesian models. These models argue that random shocks―new inventions, droughts, and wars, in the case of pure RBC models, and monetary and fiscal policy and international investor risk aversion, in more open interpretations―can trigger booms and recessions and can account for much of observed output volatility.

George McCandless works through a sequence of these Real Business Cycle and New-Keynesian dynamic stochastic general equilibrium models in fine detail, showing how to solve them, and how to add important extensions to the basic model, such as money, price and wage rigidities, financial markets, and an open economy. The impulse response functions of each new model show how the added feature changes the dynamics.

The ABCs of RBCs is designed to teach the economic practitioner or student how to build simple RBC models. Matlab code for solving many of the models is provided, and careful readers should be able to construct, solve, and use their own models.

In the tradition of the “freshwater” economic schools of Chicago and Minnesota, McCandless enhances the methods and sophistication of current macroeconomic modeling.

Über die Autorin bzw. den Autor:

George McCandless is an economist at the Central Bank of Argentina.