Discrete Time Dynamic Economic Models: Theory and Empirical Applications

✍ Scribed by Brian Ferguson, Guay Lim

• Publisher: Routledge
• Year: 2003
• Tongue: English
• Leaves: 174
• Edition: 1
• Category: Library

✦ Synopsis

Economic behavior is inherently dynamic. While things change continuously over time, much of economic analysis is based on discrete time, such as a month, quarter or a year reflecting the periodic nature of data-collecting and decision-making.

This book introduces and develops the techniques of discrete time modelling starting with first order difference equation models and building up to systems of difference equations, along the way covering such topics as:

* Non-linear difference equation modles * Random walks and chaotic processes * Optimisation in discrete time models

This well-written and easy to follow book will be primarily of interest to upper level students carrying out economic modelling. The nature of the book--bridging a gap between economics and econometric literature--will mean that is also of interest to all academics with an interest in econometrics and mathematical economics.

✦ Table of Contents

Book Cover......Page 1
Title......Page 4
Copyright......Page 5
Contents......Page 6
1 Introduction......Page 8
2 First-order difference equations......Page 12
3 Second-order difference equations......Page 38
4 Higher-order and systems of difference equations......Page 60
5 Intertemporal optimization......Page 83
6 Nonlinear difference equations......Page 114
7 Empirical analysis of economic dynamics......Page 131
Notes......Page 162
Bibliography......Page 167
Index......Page 172