The ABCs of RBCs : an introduction to dynamic macroeconomic models / George McCandless.

Format:

Book

Author/Creator:

McCandless, George T.

Contributor:

John Lammey Stewart Memorial Library Fund.

Language:

English

Subjects (All):

Business cycles--Econometric models.

Business cycles.

Macroeconomics--Econometric models.

Macroeconomics.

Physical Description:

xiv, 421 pages : illustrations ; 24 cm

Place of Publication:

Cambridge, Mass. : Harvard University Pres, 2008.

Summary:

"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." "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."--Jacket.

Contents:

pt. 1. Basic Models and Solution Methods

1. Basic Solow Model

2. Savings in an OLG Model

3. Infinitely Lived Agents

4. Recursive Deterministic Models

5. Recursive Stochastic Models

6. Hansen's RBC Model

7. Linear Quadratic Dynamic Programming

pt. 2. Extensions of the Basic RBC Model

8. Money: Cash in Advance

9. Money in the Utility Function

10. Staggered Pricing Model

11. Staggered Wage Setting

12. Financial Markets and Monetary Policy

13. Small Open Economy Models.

Notes:

Includes bibliographical references (pages 411-416) and index.

Local Notes:

Acquired for the Penn Libraries with assistance from the John Lammey Stewart Memorial Library Fund.

ISBN:

9780674028142

0674028147

OCLC:

183879858

Publisher Number:

9780674028142