Wouter J. den Haan - LSE Macroeconomics Summer Courses
Macroeconomics Summer Courses - 2011 Preparation
#1 The essentials:
Solving and estimating DSGE models
- It is important that you are familiar with the basics of DSGE models. There are many ways to do this, but one reference would be dynamic optimization
- It will be very helpful if you know a bit of Matlab. Useful may be the following:
- The Dynare user guide available at dynare user guide
- The most difficult material is likely to the material on Blanchard-Kahn conditions, the Kalman Filter and Bayesian estimation. The slides are available at Blanchard-Kahn conditions
- Slides on topics related to the course and other topics can be found at teaching notes
#2 Solving DSGE Models with Heterogeneous Agents and Bounded Rationality
- Some Matlab experience (see point #2 above).
- It will be very helpful if you are familiar with the basics of Dynare and projection methods. Info can be found at slides on Dynare , official Dynare user guide, and projection methods
- Krusell, P. and T. Smith, 1998, Heterogeneity in the macroeconomy, Journal of Political Economy
- Evans, G. and S. Honkapohja, 2009, Learning and Macroeconomics, Annual Review of Economics.
- Adam, K. and A. Marcet, 2010, Internal rationality, imperfect market knowledge and asset prices, Journal of Economic Theory.
- Hommes, C.H., Bounded Rationality and Learning in Complex Markets, (2009), In: Handbook of Economic Complexity, Edited by J. Barkley Rosse, Jr., Cheltenham: Edward Elgar. Available here .
