The ABCs of RBCs: An Introduction to Dynamic Macroeconomic Models

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9780674028142: The ABCs of RBCs: An Introduction to Dynamic Macroeconomic Models
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For every economist who ever felt stymied by the process of numerically approximating equilibria of [RBC] models, and for all current and future graduate students who are or who will be aiming to learn this technology, this book is a truly wonderful treatment--a user's guide--to moving from the set of first-order conditions and budget and resource constraints that characterize the solutions to these models to putting these models on a computer and making them operational...This is a textbook in the truest sense--every word, diagram, and table have been assembled to make learning this technology as transparent as possible. For the most part, the exposition is truly outstanding. As you read the text, you feel as if they were detailed notes written by someone in the process of learning and distilling a lot of information about a difficult and nuanced topic. And this is exactly how it was done, as noted by McCandless in the text...While there is some overlap with other treatments in the literature, there are aspects of the book that are done better here than elsewhere...The book excels exactly where many texts do not by being remarkably transparent and explicit. If you occasionally feel that advanced economics textbooks are a bit like those impossible "how-to-assemble furniture instructions" we have all sweated over, this book is for you...This book would be a terrific fit in a first year graduate course in macroeconomics...or used in a second year course that focuses on quantitative analysis of macroeconomic models. -- Lee E. Ohanian Journal of Economic Literature 20091201

Reseña del editor:

"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.

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1.

George T. McCandless
Editorial: HARVARD UNIVERSITY PRESS, United States (2008)
ISBN 10: 0674028147 ISBN 13: 9780674028142
Nuevos Tapa dura Cantidad: 1
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The Book Depository
(London, Reino Unido)
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Descripción HARVARD UNIVERSITY PRESS, United States, 2008. Hardback. Estado de conservación: New. 234 x 163 mm. Language: English . Brand New Book. 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. Nº de ref. de la librería AAU9780674028142

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McCandless, George T.
Editorial: Harvard University Press (2008)
ISBN 10: 0674028147 ISBN 13: 9780674028142
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Descripción Harvard University Press, 2008. Estado de conservación: New. 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. . . . . . . Nº de ref. de la librería V9780674028142

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George T. McCandless
Editorial: Harvard University Press 2008-03-20, Cambridge, Mass (2008)
ISBN 10: 0674028147 ISBN 13: 9780674028142
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Descripción Harvard University Press 2008-03-20, Cambridge, Mass, 2008. hardback. Estado de conservación: New. Nº de ref. de la librería 9780674028142

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George T. McCandless
Editorial: HARVARD UNIVERSITY PRESS, United States (2008)
ISBN 10: 0674028147 ISBN 13: 9780674028142
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Descripción HARVARD UNIVERSITY PRESS, United States, 2008. Hardback. Estado de conservación: New. 234 x 163 mm. Language: English . Brand New Book. 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. Nº de ref. de la librería AAU9780674028142

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McCandless, George T.
Editorial: Harvard University Press
ISBN 10: 0674028147 ISBN 13: 9780674028142
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Descripción Harvard University Press. Estado de conservación: New. 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. Nº de ref. de la librería V9780674028142

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George T. McCandless
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ISBN 10: 0674028147 ISBN 13: 9780674028142
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Descripción Harvard University Press. Hardback. Estado de conservación: new. BRAND NEW, The ABCs of RBCs: An Introduction to Dynamic Macroeconomic Models, George T. McCandless, "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. Nº de ref. de la librería B9780674028142

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George Mccandless
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ISBN 10: 0674028147 ISBN 13: 9780674028142
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Descripción Harvard University Press, 2008. HRD. Estado de conservación: New. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Nº de ref. de la librería BB-9780674028142

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McCandless, George
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Descripción Harvard Univ Press. Estado de conservación: BRAND NEW. BRAND NEW Hardcover A Brand New Quality Book from a Full-Time Bookshop in business since 1992!. Nº de ref. de la librería 2364160

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Descripción Estado de conservación: New. Depending on your location, this item may ship from the US or UK. Nº de ref. de la librería 97806740281420000000

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Descripción Harvard University Press. Estado de conservación: New. Brand New. Nº de ref. de la librería 0674028147

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