Dynamic Macroeconomics
1. Purpose
1.1. Expectations
2. A Quick Tutorial in Python Tools
2.1. Getting started
2.2. Data Types
2.3. Python Lists, Indexing and Slicing
2.4. Python dictionaries
2.5. NumPy and SciPy libraries
2.6. Plotting with MATPLOTLIB
2.7. Useful Python and Numpy functions
2.8. Conditionals
2.9. Loops
2.10. Statistics
2.11. More Python resources for the economist
3. A Brief History
4. Economies as Dynamical Systems
4.1. Reduced-form representation
4.2. Recursive maps by example
4.3. Linear stochastic difference equation systems
4.4. Markov Chains
4.5. Postscript
5. Solow-Swan: Before and After
5.1. Empirical Regularities
5.2. Population Growth
5.3. Decentralized Economy
5.4. Exogenous Growth
5.5. Golden Rule
6. Optimal Growth and General Equilibrium
6.1. Digging deeper
6.2. Ramsey-Cass-Koopman’s Economy
6.3. Solving The RCK Economy
6.4. Competitive Equilibrium
6.5. Recursive Competitive Equilibrium
7. Dynamic Programming
7.1. Infinite Horizon Program
7.2. Example
7.3. Stochastic Dynamic Programs
8. Individual Risk, Insurance and Complete Markets
8.1. Reading List
8.2. Introduction
8.3. Timing and market structure
8.4. Notion of an equilibrium
8.5. Preferences and endowments
8.6. Social planner’s problem
8.7. Arrow-Debreu competitive equilibrium
8.8. Sequential markets and Arrow securities
8.9. Recursive competititive equilibria
8.10. Asset pricing with Markovian economies
8.11. Incomplete markets and asset pricing
9. Real Business Cycle
9.1. Reading List
9.2. Part I
9.3. Introduction
9.4. Endogenous aggregate state variables
9.5. Pareto optimality in the stochastic growth model
9.6. Competitive equilibrium in the stochastic growth model
9.7. A recursive stochastic growth model
9.8. Part II
9.9. An example recursive economy
9.10. Appendix A
9.11. Linear Stochastic Difference Equations
9.12. Setup
9.13. Moments of the LSDE
9.14. Impulse response functions
9.15. Forecasting
9.16. Real Business Cycle References
10. Keynesian Business Cycles and Inflation
10.1. Introduction
10.2. A simple version of the NK model
10.3. Departure from fundamental welfare theorems
10.4. Specifying the interest rate process
10.5. Numerical solution and policy simulation
10.6. Effect of inflation on relative price dispersion across industries
10.7. Keynesian Business Cycles and Inflation References
11. Search Matching
11.1. Introduction
11.2. The McCall one-sided search model
11.3. A simple two-sided search model
11.4. Appendix A
11.5. Well-defined probability measures
11.6. Search Matching References
Dynamic Macroeconomics
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