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It seems that you're in Germany. We have a dedicated site for Germany. This is a book on deterministic and stochastic Growth Theory and the computational methods needed to produce numerical solutions. Exogenous and endogenous growth models are thoroughly reviewed. Special attention is paid to the use of these models for fiscal and monetary policy analysis. Modern Business Cycle Theory, the New Keynesian Macroeconomics, the class of Dynamic Stochastic General Equilibrium models, can be all considered as special cases of models of economic growth, and they can be analyzed by the theoretical and numerical procedures provided in the textbook.
Analytical discussions are presented in full detail. The book is self contained and it is designed so that the student advances in the theoretical and the computational issues in parallel. EXCEL and Matlab files are provided on an accompanying website see Preface to the Second Edition to illustrate theoretical results as well as to simulate the effects of economic policy interventions. The structure of these program files is described in "Numerical exercise"-type of sections, where the output of these programs is also interpreted.
The second edition corrects a few typographical errors and improves some notation. He holds a Ph. Her Ph. He obtained his Ph. Only valid for books with an ebook version.
Buy eBook. Buy Hardcover. FAQ Policy. About this Textbook This is a book on deterministic and stochastic Growth Theory and the computational methods needed to produce numerical solutions. Show all.
Table of contents 10 chapters Table of contents 10 chapters Introduction Pages Novales, Alfonso et al. Mathematical Appendix Pages Novales, Alfonso et al. Show next xx. Recommended for you. PAGE 1.
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Econometria (English, Spanish, Paperback, 2nd)
Items in RUA are protected by copyright, with all rights reserved, unless otherwise indicated. Statistics Statistics. We start by showing that the variance risk premium responds to changes in higher order moments of the distribution of market returns. But the uncertainty that determines the variance risk premium — the fear by investors to deviations from normality in returns — is also strongly related to a variety of macroeconomic and financial risks associated with default, employment growth, consumption growth, stock market and market illiquidity risks. We conclude that the variance risk premium reflects the market willingness to pay for hedging against these financial and macroeconomic sources of risk. An out-of-sample asset allocation exercise shows that the inclusion of the variance swap reduces the modified value-at-risk with respect to a portfolio holding exclusively the equity market portfolio.