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Introduction to Dynamic Macroeconomic General Equilibrium Models

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  • José Luis Torres Chacon

Abstract

This book offers an introductory step-by-step course in Dynamic Stochastic General Equilibrium modelling. Modern macroeconomic analysis is increasingly concerned with the construction, calibration and/or estimation and simulation of Dynamic General Equilibrium (DGE) models. The book is intended for graduate students as an introductory course to DGE modelling and for those economists who would like a hands-on approach to learning the basics of modern dynamic macroeconomic modelling. The book starts with the simplest canonical neoclassical DGE model and then gradually extends the basic framework incorporating a variety of additional features, such as consumption habit formation, investment adjustment cost, investment-specific technological change, taxes, public capital, household production, non-ricardian agents, monopolistic competition, etc. The book includes Dynare codes for the models developed that can be downloaded from the book’s homepage.

Suggested Citation

  • José Luis Torres Chacon, 2014. "Introduction to Dynamic Macroeconomic General Equilibrium Models," Vernon Press Titles in Economics, Vernon Art and Science Inc, edition 1, number 18, July.
  • Handle: RePEc:vpr:ecbook:18
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    3. Aleksandar Vasilev, 2020. "An RBC model with investment-specific technological change: lessons for Bulgaria (1999–2018)," Post-Communist Economies, Taylor & Francis Journals, vol. 32(4), pages 511-524, May.
    4. Jackson, Emerson Abraham, 2018. "On the question of the relevance of Economics as a science: Postmodern filosofia critique," MPRA Paper 86185, University Library of Munich, Germany, revised 13 Apr 2018.
    5. Vasilev, Aleksandar, 2020. "An RBC model with non-Ricardian households: Lessons for Bulgaria (1999-2018)," EconStor Open Access Articles, ZBW - Leibniz Information Centre for Economics.
    6. Celso Jose Costa Junior, 2016. "Understanding DSGE models," Vernon Press Titles in Economics, Vernon Art and Science Inc, edition 1, number 70, July.

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    8. Ramey, V.A., 2016. "Macroeconomic Shocks and Their Propagation," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 71-162, Elsevier.
    9. Fernández-de-Córdoba, Gonzalo & Torres, José L., 2012. "Fiscal harmonization in the European Union with public inputs," Economic Modelling, Elsevier, vol. 29(5), pages 2024-2034.
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