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Table Of Contents

Introduction
Motivation: Solow’s growth model
2.1 The model
2.2 Applications
2.2.1 Growth
2.2.2 Business Cycles
2.2.3 Other topics
2.3 Where next?
Dynamic optimization
3.1 Sequential methods
3.1.1 A finite horizon
3.1.2 Infinite horizon
3.2 Dynamic programming
3.3 The functional Euler equation
3.4 References
4.1 Properties of the capital accumulation function
4.2 Global convergence
4.3 Dynamics: the speed of convergence
4.3.2 Solving for the speed of convergence
4.3.3 Alternative solution to the speed of convergence
5.1 Sequential competitive equilibrium
5.1.1 An endowment economy with date-0 trade
5.1.3 The neoclassical growth model with date-0 trade
5.1.4 The neoclassical growth model with sequential trade
5.2 Recursive competitive equilibrium
5.2.1 The neoclassical growth model
5.2.2 The endowment economy with one agent
5.2.3 An endowment economy with two agents
5.2.4 Neoclassical production again, with capital accumulation
Uncertainty
1. Examples of common stochastic processes in macroeconomics
6.1 Examples of common stochastic processesin macroe-
6.1.1 Markov chains
6.1.2 Linear stochastic difference equations
6.2 Maximization under uncertainty
6.2.1 Stochastic neoclassical growth model
6.3 Competitive equilibrium under uncertainty
6.3.1 The neoclassical growth model with complete markets
6.3.4 Recursive formulation
6.4 Appendix: basic concepts in stochastic processes
Aggregation
7.1 Inelastic labor supply
7.2 Valued leisure
7.2.1 Wealth effects on labor supply
7.2.2 Wealth effects on labor supply
The overlapping-generations model
8.1 Definitions and notation
8.2 An endowment economy
8.2.1 Sequential markets
8.2.2 Arrow-Debreu date-0 markets
8.2.3 Application: endowment economy with one agent per
8.3 Economies with intertemporal assets
8.3.1 Economies with fiat money
8.3.2 Economies with real assets
8.3.3 A tree economy
8.3.4 Storage economy
8.3.5 Neoclassical growth model
8.4 Dynamic efficiencyin models with multiple agents
8.5 The Second Welfare Theorem in dynastic set-
8.5.1 The second welfare theorem in a 1-agent economy
8.5.2 The second welfare theorem in a 2-agent economy
8.6 Uncertainty
8.7 Hybrids
8.7.1 The benchmark perpetual-youth model
8.7.2 Introducing a life cycle
9.1 Some motivating long-run facts in macroeconomic
9.1.1 Kaldor’s stylized facts
9.1.2 Other facts
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Krusell

Krusell

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Published by HinduBoy2

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Published by: HinduBoy2 on Jun 16, 2011
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04/21/2013

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