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2020 | OriginalPaper | Buchkapitel

3. Traditional Dynamic Macroeconomic Models

verfasst von : Daniel Lukui Jia

Erschienen in: Dynamic Macroeconomic Models in Emerging Market Economies

Verlag: Springer Singapore

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Abstract

In this chapter, we derive the traditional dynamic model (RBC/DSGE model) from its origin—the Solow model. This chapter consists of two frameworks: the Solow model and the stochastic (RBC) models. Moreover, early attempts to introduce money into the RBC/DSGE models are demonstrated in the third section of this chapter.

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Fußnoten
1
The full definition and deduction of the Bellman function is provided in the work of Bellman [7].
 
2
The details of Envelop Theorem are provided in the work conducted by Benveniste and Scheinkman [8].
 
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2.
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Zurück zum Zitat Bellman, R. (1956). Dynamic programming and Lagrange multipliers. Proceedings of the National Academy of Sciences of the United States of America, 42(10), 767–769.CrossRef Bellman, R. (1956). Dynamic programming and Lagrange multipliers. Proceedings of the National Academy of Sciences of the United States of America, 42(10), 767–769.CrossRef
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Metadaten
Titel
Traditional Dynamic Macroeconomic Models
verfasst von
Daniel Lukui Jia
Copyright-Jahr
2020
Verlag
Springer Singapore
DOI
https://doi.org/10.1007/978-981-15-4588-7_3

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