RBCs and DSGEs: The Computational Approach to Business Cycle Theory and Evidence

Ozer Karagedikli, Troy Matheson, Christie Smith, Shaun Vahey

    Research output: Contribution to journalArticle

    Abstract

    Real business cycle (RBC) and dynamic stochastic general equilibrium (DSGE) methods have become essential components of the macroeconomist's toolkit. This literature review stresses recently developed techniques for computation and inference, providing a supplement to the Romer textbook, which stresses theoretical issues. Many computational aspects are illustrated with reference to the simple divisible labor RBC model. Code and US data to replicate the computations are provided on the internet, together with a number of appendices providing background details.
    Original languageEnglish
    Pages (from-to)113-136
    JournalJournal of Economic Surveys
    Volume24
    Issue number1
    DOIs
    Publication statusPublished - 2010

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