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Understanding DSGE

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Title: Understanding DSGE
Description: While the theoretical development of DSGE models is not overly difficult to understand, practical application remains somewhat complex. The literature on this subject has some significant obscure points. This book can be thought of, firstly, as a tool to overcome initial hurdles with this type of modeling. Secondly, by showcasing concrete applications, it aims to persuade incipient researchers to work with this methodology. In principle, this is not a book on macroeconomics in itself, but on tools used in the construction of this sort of models. It strives to present this technique in a detailed manner, thereby providing a step by step course intended to walk readers through this otherwise daunting process. The book begins with a basic Real Business Cycle model. Subsequently various frictions are gradually incorporated into a standard DSGE model: imperfect competition; frictions in prices and in wages ; habit formation; non-Ricardian agents; adjustment cost in investment; costs of not using the maximum installed capacity; and finally, Government.
Authors: Costa, Celso J.
Resource Type: eBook.
Subjects: Stochastic models, Equilibrium (Economics)--Mathematical models
Categories: POLITICAL SCIENCE / Political Economy, BUSINESS & ECONOMICS / Economics / Macroeconomics
Database: eBook Collection (EBSCOhost)
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Header DbId: nlebk
DbLabel: eBook Collection (EBSCOhost)
An: 1362580
RelevancyScore: 1070
AccessLevel: 6
PubType: eBook
PubTypeId: ebook
PreciseRelevancyScore: 1070.4580078125
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  Data: While the theoretical development of DSGE models is not overly difficult to understand, practical application remains somewhat complex. The literature on this subject has some significant obscure points. This book can be thought of, firstly, as a tool to overcome initial hurdles with this type of modeling. Secondly, by showcasing concrete applications, it aims to persuade incipient researchers to work with this methodology. In principle, this is not a book on macroeconomics in itself, but on tools used in the construction of this sort of models. It strives to present this technique in a detailed manner, thereby providing a step by step course intended to walk readers through this otherwise daunting process. The book begins with a basic Real Business Cycle model. Subsequently various frictions are gradually incorporated into a standard DSGE model: imperfect competition; frictions in prices and in wages ; habit formation; non-Ricardian agents; adjustment cost in investment; costs of not using the maximum installed capacity; and finally, Government.
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      – Code: 339.5015118
        Scheme: ddc
        Type: prePub
    Languages:
      – Code: eng
        Text: English
    Subjects:
      – SubjectFull: Stochastic models
        Type: general
      – SubjectFull: Equilibrium (Economics)--Mathematical models
        Type: general
    Titles:
      – TitleFull: Understanding DSGE
        Type: main
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          Name:
            NameFull: Costa, Celso J.
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            NameFull: Costa, Celso J.
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          Dates:
            – D: 01
              M: 01
              Type: published
              Y: 2016
            – D: 17
              M: 04
              Type: profile
              Y: 2017
          Identifiers:
            – Type: isbn-electronic
              Value: 9781622731343
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            – TitleFull: Understanding DSGE
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