The ABCs of RBCs

The ABCs of RBCs
Author :
Publisher : Harvard University Press
Total Pages : 448
Release :
ISBN-10 : 9780674033788
ISBN-13 : 0674033787
Rating : 4/5 (787 Downloads)

Book Synopsis The ABCs of RBCs by : George McCandless

Download or read book The ABCs of RBCs written by George McCandless and published by Harvard University Press. This book was released on 2008-03-31 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.


The ABCs of RBCs Related Books

The ABCs of RBCs
Language: en
Pages: 448
Authors: George McCandless
Categories: Business & Economics
Type: BOOK - Published: 2008-03-31 - Publisher: Harvard University Press

DOWNLOAD EBOOK

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�
Introduction to Dynamic Macroeconomic Theory
Language: en
Pages: 392
Authors: George T. McCandless
Categories: Business & Economics
Type: BOOK - Published: 1991 - Publisher: Harvard University Press

DOWNLOAD EBOOK

Economies are constantly in flux, and economists have long sought reliable means of analyzing their dynamic properties. This book provides a succinct and access
MACROECONOMICS BEYOND THE NAIRU
Language: en
Pages: 303
Authors: Servaas Storm
Categories: Business & Economics
Type: BOOK - Published: 2012-01-02 - Publisher: Harvard University Press

DOWNLOAD EBOOK

The authors make a strong case that a stable non-accelerating inflation rate of unemployment (NAIRU), independent of macroeconomic policy, does not exist. Conse
Economic Dynamics in Discrete Time
Language: en
Pages: 737
Authors: Jianjun Miao
Categories: Business & Economics
Type: BOOK - Published: 2014-09-19 - Publisher: MIT Press

DOWNLOAD EBOOK

A unified, comprehensive, and up-to-date introduction to the analytical and numerical tools for solving dynamic economic problems. This book offers a unified, c
Raising Keynes
Language: en
Pages: 921
Authors: Stephen A. Marglin
Categories: Business & Economics
Type: BOOK - Published: 2020-07-14 - Publisher: Harvard University Press

DOWNLOAD EBOOK

Back to the future: a heterodox economist rewrites Keynes's General Theory of Employment, Interest, and Money to serve as the basis for a macroeconomics for the