Computational Macroeconomics for the Open Economy

G. C. Lim, Paul D. Mcnelis

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English

MIT Press
06 August 2024

Economics; Macroeconomics

How to use nonlinear dynamic models in policy analysis.

How to use nonlinear dynamic models in policy analysis.

Policymakers need quantitative as well as qualitative answers to pressing policy questions. Because of advances in computational methods, quantitative estimates are now derived from coherent nonlinear dynamic macroeconomic models embodying measures of risk and calibrated to capture specific characteristics of real-world situations. This text shows how such models can be made accessible and operational for confronting policy issues. The book starts with a simple setting based on market-clearing price flexibility. It gradually incorporates departures from the simple competitive framework in the form of price and wage stickiness, taxes, rigidities in investment, financial frictions, and habit persistence in consumption. Most chapters end with computational exercises; the Matlab code for the base model can be found in the appendix. As the models evolve, readers are encouraged to modify the codes from the first simple model to more complex extensions. Computational Macroeconomics for the Open Economy can be used by graduate students in economics and finance as well as policy-oriented researchers.

By: G. C. Lim, Paul D. Mcnelis
Imprint: MIT Press
Country of Publication: United States
Dimensions: Height: 229mm, Width: 152mm,
Weight: 369g
ISBN: 9780262552837
ISBN 10: 0262552833
Pages: 256
Publication Date: 06 August 2024
Audience: General/trade , ELT Advanced
Format: Paperback
Publisher's Status: Active

G. C. Lim is Professorial Research Fellow at the Melbourne Institute of Applied Economic and Social Research, University of Melbourne. She is the coauthor of Dynamic Economic Models in Discrete Time- Theory and Empirical Applications and An Introduction to Dynamic Economic Models (both with Brian Ferguson). Paul D. McNelis is Robert Bendheim Chair of Economic and Financial Policy at Fordham University Graduate School of Business Administration. He is the author of Neural Networks in Finance- Gaining Predictive Edge in the Market.

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Computational Macroeconomics for the Open Economy

G. C. Lim, Paul D. Mcnelis

$100

Paperback

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