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020			_a9780674028142
040			_cIIT Kanpur
041			_aeng
082			_a339.015195 _bM126a
100			_aMcCandless, George
245			_aABCs of RBCs _bintroduction to dynamic macroeconomic models _cGeorge McCandless
260			_bHarvard University Press _c2008 _aCambridge, MA
300			_axiv, 421 p.
500			_aIncludes bibliographical references (p. [411]-416) and index.
520			_aThe ABCs of RBCs is the first book to provide a basic introduction to Real Business Cycle (RBC) and New-Keynesian models. These models argue that random shocks―new inventions, droughts, and wars, in the case of pure RBC models, and monetary and fiscal policy and international investor risk aversion, in more open interpretations―can trigger booms and recessions and can account for much of observed output volatility. George McCandless works through a sequence of these Real Business Cycle and New-Keynesian dynamic stochastic general equilibrium models in fine detail, showing how to solve them, and how to add important extensions to the basic model, such as money, price and wage rigidities, financial markets, and an open economy. The impulse response functions of each new model show how the added feature changes the dynamics. The ABCs of RBCs is designed to teach the economic practitioner or student how to build simple RBC models. Matlab code for solving many of the models is provided, and careful readers should be able to construct, solve, and use their own models. In the tradition of the “freshwater” economic schools of Chicago and Minnesota, McCandless enhances the methods and sophistication of current macroeconomic modeling.
650			_aMacroeconomics -- Econometric models
650			_aBusiness cycles -- Econometric models
653			_aRBC and New Keynesian models--Macroeconomics
942			_cBK
999			_c566399 _d566399