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Table Of Contents

Motivation and Data
Introduction
1.1 The Questions
Basic Business Cycle Facts
2.1 Decomposition of Growth Trend and Busi- ness Cycles
Set-Up of the Basic Model
3.1 Households
3.2 Firms
3.3 Aggregate Resource Constraint
3.4 Competitive Equilibrium
3.5 Characterization of Equilibrium
Social Planner Problem and Competitive Equilibrium
4.1 The Social Planner Problem
4.2 Characterization of Solution
4.3 The Welfare Theorems
4.4 Appendix: More Rigorous Math
Steady State Analysis
5.1 Characterization of the Steady State
5.2 Golden Rule and Modi…ed Golden Rule
Dynamic Analysis
6.1 An Example with Analytical Solution
6.2. LINEARIZATION OF THE EULER EQUATION 47
6.2 Linearization of the Euler Equation
6.2.1 Preliminaries
6.2.2 Doing the Linearization
6.3 Analysis of the Results
6.3.1 Plotting the Policy Function
6.3.2 Impulse Response Functions
6.3.3 Simulations
6.4 Summary
A Note on Economic Growth
7.1 Preliminary Assumptions and De…nitions
7.3 Analysis
7.4 The Balanced Growth Path
Calibration
8.1 Long Run Growth Rates
8.2 Capital and Labor Share
8.3 The Depreciation Rate
8.4 The Technology Constant A
8.5 Preference Parameters
8.6 Summary
Adding Labor Supply
9.1 The Modi…ed Social Planner Problem
9.2 Labor Lotteries
9.3 Analyzing the Model with Labor
9.4 A Note on Calibration
9.5 Intertemporal Substitution of Labor Sup- ply: A Simple Example
9.6 A Remark on Decentralization
Stochastic Technology Shocks: The Full RBC Model
10.1 The Basic Idea
10.3 Analysis
Evaluating the Model
Technology Shocks and Business Cycles
11.1 Impulse Response Functions
11.3 Counterfactual Experiments
Welfare and Policy Questions
The Cost of Business Cycles
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Quantitative Macroeconomics an Introduction

Quantitative Macroeconomics an Introduction

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Published by Jelena Pavlovic

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Published by: Jelena Pavlovic on Sep 18, 2011
Copyright:Attribution Non-commercial

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