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Macroeconomic Analysis III Complete Study Notes
EC4302 - Macroeconomic Analysis III
16 Pages • Complete Study Notes • Year Uploaded: 2022
Complete study notes, covering topics as shown below: 1) Basic Growth Facts - Evolution of input factors - Equilibrium, steady-state, Balanced growth path, comparative statics, Golden-rule 2) Solow Growth Model - Neoclassical Production Function - Solow model: benchmark model with endogenous capital 3) Ramsey model: Solow with infinitely lived consumers determining saving rate 4) Diamond/OLG model: Discrete-time Solow with consumers living for two periods determining saving rate 5) Growth accounting: Malthusian to Solow 6 6) Endogenous Growth - Simplified model - without capital - General model - with capital - 6.3 Simplified general model - learning by doing - “Y=AK” models 7) Endogenous Growth - Romer Model - Solving the model - Empirical implications 8) Real Business Cycle - Simplified RBC - without government - General RBC - solution with log-linearization 9) Unemployment - Traditional approach - Supply and Demand of labour - Modern approach - Searching and matching of labour - Matching problem - Equilibrium (from continuous time) - Steady-state - Implications - Efficiency
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