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Computational Methods for the Study of Dynamic Economies

Ramon Marimon and Andrew Scott (eds)

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199248278
eISBN:
9780191596605
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/0199248273.001.0001
Subject:
Economics and Finance, Macro- and Monetary Economics

Macroeconomics increasingly uses stochastic dynamic general equilibrium models to understand theoretical and policy issues. Unless very strong assumptions are made, understanding the properties of ... More


Functionings

Jonathan Wolff and Avner De-Shalit

in Disadvantage

Published in print:
2007
Published Online:
May 2007
ISBN:
9780199278268
eISBN:
9780191707902
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199278268.003.0003
Subject:
Political Science, Political Theory

This chapter deepens the discussion of the nature of disadvantage by asking: what categories of functionings exhaust those necessary to construct a full philosophical theory of disadvantage? ... More


Introduction

Anthony Garratt, Kevin Lee, M. Hashem Pesaran, and Yongcheol Shin

in Global and National Macroeconometric Modelling: A Long-Run Structural Approach

Published in print:
2006
Published Online:
September 2006
ISBN:
9780199296859
eISBN:
9780191603853
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199296855.003.0001
Subject:
Economics and Finance, Econometrics

This chapter introduces the long-run structural approach to modelling. It makes brief comparisons with the key alternative approaches, namely large-scale simultaneous equation models, unrestricted ... More


Discrete State‐Space Methods for the Study of Dynamic Economies

Craig Burnside

in Computational Methods for the Study of Dynamic Economies

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199248278
eISBN:
9780191596605
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199248273.003.0005
Subject:
Economics and Finance, Macro- and Monetary Economics

A number of numerical methods are discussed for solving dynamic stochastic general equilibrium models that fall within the common category of discrete state‐space methods. These methods can be ... More


Dynamics and Learning

Jacob K. Goeree, Charles A. Holt, and Thomas R. Palfrey

in Quantal Response Equilibrium: A Stochastic Theory of Games

Published in print:
2016
Published Online:
January 2018
ISBN:
9780691124230
eISBN:
9781400880928
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691124230.003.0005
Subject:
Economics and Finance, History of Economic Thought

This chapter explores questions related to learning and dynamics. The first part explores dynamic quantal response equilibrium models where strategies are conditioned on observed histories of past ... More


Growth in Private and Command Economies

Dipankar Dasgupta

in Modern Growth Theory

Published in print:
2010
Published Online:
October 2012
ISBN:
9780198069966
eISBN:
9780199080458
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198069966.003.0002
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter describes a fully planned economy and examines the optimal path a planner will choose. It introduces elements of control theory, an important mathematical tool employed by modern growth ... More


Chemical Equilibrium

Christopher O. Oriakhi

in Chemistry in Quantitative Language: Fundamentals of General Chemistry Calculations

Published in print:
2021
Published Online:
November 2021
ISBN:
9780198867784
eISBN:
9780191904509
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198867784.003.0017
Subject:
Chemistry, Physical Chemistry, Quantum and Theoretical Chemistry

Chemical Equilibrium reviews the principles of equilibrium in systems of gases and liquids, starting with the concepts of reversible and irreversible reactions and dynamic equilibrium. The ... More


Bayesian Estimation of DSGE Models

Edward P. Herbst and Frank Schorfheide

Published in print:
2015
Published Online:
October 2017
ISBN:
9780691161082
eISBN:
9781400873739
Item type:
book
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691161082.001.0001
Subject:
Economics and Finance, Econometrics

Dynamic stochastic general equilibrium (DSGE) models have become one of the workhorses of modern macroeconomics and are extensively used for academic research as well as forecasting and policy ... More


Equilibrium models intended to overcome limits

Lawrence A. Boland

in Equilibrium Models in Economics: Purposes and Critical Limitations

Published in print:
2017
Published Online:
May 2017
ISBN:
9780190274320
eISBN:
9780190274368
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190274320.003.0011
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter will critically examine today’s common ways to build equilibrium models. These specifically include Dynamic-Stochastic General Equilibrium models, game theoretical models and empirical ... More


International Transmission and Monetary Policy Cooperation

Günter Coenen, Giovanni Lombardo, Frank Smets, and Roland Straub (eds)

in International Dimensions of Monetary Policy

Published in print:
2010
Published Online:
February 2013
ISBN:
9780226278865
eISBN:
9780226278872
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226278872.003.0004
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter describes a classic theme of international macroeconomics, that is, the gains from policy cooperation in the presence of policy spillovers across countries. In this chapter, a calibrated ... More


Dynamic macro II: The stochastic OLG model

Hans Fehr and Fabian Kindermann

in Introduction to Computational Economics Using Fortran

Published in print:
2018
Published Online:
November 2020
ISBN:
9780198804390
eISBN:
9780191917202
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198804390.003.0016
Subject:
Computer Science, Programming Languages

In Chapters 6 and 7 we discussed how to compute overlapping generations models and how to use them for policy analysis. The models developed there are completely deterministic in that they exclude ... More


Capitalist Dynamics: Continuity, or Crisis?

Eric Sheppard

in Limits to Globalization: The Disruptive Geographies of Capitalist Development

Published in print:
2016
Published Online:
August 2016
ISBN:
9780199681167
eISBN:
9780191761249
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199681167.003.0004
Subject:
Business and Management, Political Economy

Non-geographical economic theorists of globalizing capitalism offer two contrasting visions of its evolution. Proponents emphasize harmony and equilibrium, examining ‘golden’ growth paths of ... More


Case Study Two—Modelling Business Cycles

Qin Duo

in A History of Econometrics: The Reformation from the 1970s

Published in print:
2013
Published Online:
September 2013
ISBN:
9780199679348
eISBN:
9780191758416
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199679348.003.0007
Subject:
Economics and Finance, Econometrics, History of Economic Thought

This chapter examines the evolution of econometric research in business cycle analysis mainly during the 1960-90 period. It shows how the research was dominated by an assimilation of the tradition of ... More


Competitive Business Cycles

Jean-Pascal Bénassy

in Macroeconomic Theory

Published in print:
2011
Published Online:
April 2015
ISBN:
9780195387711
eISBN:
9780190261405
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780195387711.003.0010
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter discusses the three lines of research used in assessing basic models of fluctuations in competitive markets, namely research with the use of Dynamic Stochastic General Equilibrium ... More


Allais’s HRL Formulation: Illustration of Its Dynamic Properties by an Example of Hyperinflation (Zimbabwe 2000–2008)

Eric Barthalon

in Uncertainty, Expectations, and Financial Instability: Reviving Allais's Lost Theory of Psychological Time

Published in print:
2014
Published Online:
November 2015
ISBN:
9780231166287
eISBN:
9780231538305
Item type:
chapter
Publisher:
Columbia University Press
DOI:
10.7312/columbia/9780231166287.003.0007
Subject:
Economics and Finance, Behavioural Economics

This chapter illustrates the dynamic properties of the HRL formulation by means of a detailed numerical example based on the hyperinflation observed in Zimbabwe between 2000 and 2008. It first ... More


Money

Jean-Pascal Bénassy

in Macroeconomic Theory

Published in print:
2011
Published Online:
April 2015
ISBN:
9780195387711
eISBN:
9780190261405
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780195387711.003.0011
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter explains the nature of money as a unit of account, medium of exchange, and as a store of value, and addresses the problem of introducing money using rigorous dynamic models. It begins by ... More


Monetary Policy in Europe versus the United States: What Explains the Difference?

Harald Uhlig

in International Dimensions of Monetary Policy

Published in print:
2010
Published Online:
February 2013
ISBN:
9780226278865
eISBN:
9780226278872
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226278872.003.0010
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter examines how each central bank (Federal Reserve and the European Central Bank) has performed in recent years with the aim of understanding the similarities and differences. It is ... More


Business Cycles and Stabilization Policy

Christopher Tsoukis

in Theory of Macroeconomic Policy

Published in print:
2020
Published Online:
November 2020
ISBN:
9780198825371
eISBN:
9780191912498
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198825371.003.0006
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter reviews the theory related to business cycles. After outlining early approaches (including the multiplier-accelerator interaction and Goodwin cycles), it proceeds to discuss the modern ... More


Current Account Dynamics and Monetary Policy

Andrea Ferrero, Mark Gertler, and Lars E. O. Svensson (eds)

in International Dimensions of Monetary Policy

Published in print:
2010
Published Online:
February 2013
ISBN:
9780226278865
eISBN:
9780226278872
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226278872.003.0005
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter examines the implications of current account adjustment for monetary policy. A two-country monetary dynamic stochastic general equilibrium (DSGE) model with nominal rigidities and ... More


Oil Shocks in a DSGE Model for the Korean Economy

Sungbae An and Kang Heedon

in Commodity Prices and Markets

Published in print:
2011
Published Online:
February 2013
ISBN:
9780226386898
eISBN:
9780226386904
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226386904.003.0010
Subject:
Economics and Finance, South and East Asia

This chapter describes the oil shocks using a dynamic stochastic general equilibrium (DSGE) model for the Korean economy. The Korean economy depends entirely on imports for its acquisition of crude ... More


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