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Teaching Macroeconomics with GAMS

  • Mercado, P Ruben
  • Kendrick, David A
  • Amman, Hans

Our general goal in this paper is to show how to implement in GAMS standard deterministic nonlinear macro models, and stochastic linear macro models with rational expectations. We will also present basic concepts on solution methods and policy analysis for these kinds of models. As a practical illustration, we will use some well known teaching and experimental models in the macroeconomic literature. Citation Copyright 1998 by Kluwer Academic Publishers.

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File URL: http://journals.kluweronline.com/issn/0927-7099/contents
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Article provided by Society for Computational Economics in its journal Computational Economics.

Volume (Year): 12 (1998)
Issue (Month): 2 (October)
Pages: 125-49

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Handle: RePEc:kap:compec:v:12:y:1998:i:2:p:125-49
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  1. John B. Taylor, 1984. "International Coordination in the Design of Macroeconomic Policy Rules," NBER Working Papers 1506, National Bureau of Economic Research, Inc.
  2. Hans M. Amman & David A. Kendrick, 1996. "The DUALI/DUALPC Software for Optimal Control Models: Introduction," CARE Working Papers 9602, The University of Texas at Austin, Center for Applied Research in Economics.
  3. Nicholas Carlozzi & John B. Taylor, 1983. "International Capital Mobility and the Coordination of Monetary Rules," NBER Working Papers 1242, National Bureau of Economic Research, Inc.
  4. repec:sae:niesru:v:145:y::i:1:p:43-63 is not listed on IDEAS
  5. P. Ruben Mercado & David A. Kendrick, 1997. "HTGAMS: Hall and Taylor's Model in GAMS," CARE Working Papers 9704, The University of Texas at Austin, Center for Applied Research in Economics.
  6. Wallis, Kenneth F, 1980. "Econometric Implications of the Rational Expectations Hypothesis," Econometrica, Econometric Society, vol. 48(1), pages 49-73, January.
  7. Blanchard, Olivier Jean & Kahn, Charles M, 1980. "The Solution of Linear Difference Models under Rational Expectations," Econometrica, Econometric Society, vol. 48(5), pages 1305-11, July.
  8. Taylor, John B, 1979. "Estimation and Control of a Macroeconomic Model with Rational Expectations," Econometrica, Econometric Society, vol. 47(5), pages 1267-86, September.
  9. Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-91, June.
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