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RBCs and DSGEs : the computational approach to business cycle theory and evidence
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Karagedikli, Özer, Matheson, Troy D., Smith, Christie and Vahey, Shaun P. (2010) RBCs and DSGEs : the computational approach to business cycle theory and evidence. Journal of Economic Surveys, Volume 24 (Number 1). pp. 113-136. doi:10.1111/j.1467-6419.2009.00589.x ISSN 0950-0804.
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Official URL: http://dx.doi.org/10.1111/j.1467-6419.2009.00589.x
Abstract
Real business cycle (RBC) and dynamic stochastic general equilibrium (DSGE) methods have become essential components of the macroeconomist's toolkit. This literature review stresses recently developed techniques for computation and inference, providing a supplement to the Romer textbook, which stresses theoretical issues. Many computational aspects are illustrated with reference to the simple divisible labor RBC model. Code and US data to replicate the computations are provided on the internet, together with a number of appendices providing background details.
| Item Type: | Journal Article | ||||||
|---|---|---|---|---|---|---|---|
| Subjects: | H Social Sciences > HB Economic Theory | ||||||
| Divisions: | Faculty of Social Sciences > Warwick Business School > Global Energy Faculty of Social Sciences > Warwick Business School |
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| Library of Congress Subject Headings (LCSH): | Business cycles, Macroeconomics | ||||||
| Journal or Publication Title: | Journal of Economic Surveys | ||||||
| Publisher: | Wiley-Blackwell Publishing Ltd. | ||||||
| ISSN: | 0950-0804 | ||||||
| Official Date: | February 2010 | ||||||
| Dates: |
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| Volume: | Volume 24 | ||||||
| Number: | Number 1 | ||||||
| Number of Pages: | 23 | ||||||
| Page Range: | pp. 113-136 | ||||||
| DOI: | 10.1111/j.1467-6419.2009.00589.x | ||||||
| Status: | Peer Reviewed | ||||||
| Publication Status: | Published | ||||||
| Access rights to Published version: | Restricted or Subscription Access |
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