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Computational Macroeconomics II (formerly Endogenous Growth Theory)


Lecturer: Prof. Dr. Maußner
Date: see timetable
Building/Room: see timetable


Abstract:

This course introduces into the field of endogenous growth theory that studies the determinants of the growth rate of output in the framework of dynamic general equilibrium models. We will deal with simple AK-models, the Lucas-Uzawa model of human capital accumulation as well as with models of expanding product variety and models of improving product quality. Knowledge of the methods and models presented in the course Advanced Macroeconomics is assumed.


Content:

  1. Principles
    1. Stylized Facts on Growth Processes
    2. Neo-Classical Growth Models
  2. Technological Progress in One-Sector Models
    1. Marginal Productivity of Capital in the Solow Model
    2. The AK Technology
    3. Dynamic Properties of AK Models
  3. Human Capital Accumulation
    1. Two-Sector Growth Models
    2. The Lucas-Uzawa Model
  4. Divison of Work and Quality Progress
    1. Three-Sector Growth Models
    2. Growing Variety of Products
    3. Quality Progress and Discrete Growth
    4. Quality Progress and Continous Growth


Literature:

Acemoglu, Daron, Introduction to Modern Economic Growth, Princeton University Press: Princeton and Oxford, 2009

Aghion, Philippe und Peter Howitt, Endogenous Growth Theory, MIT Press: Cambridge, MA und London 1998

Barro, Robert J., Sala-i-Martin, Xavier, Economic Growth, McGraw-Hill: New York, Second Edition, 2004

Galí, Jordi, Monetary Policy, Inflation, and the Business Cycle, Princeton University Press: Princeton 2008

Heer, Burkhard und Alfred Maußner, Dynamic General Equilibrium Modeling, 2nd edition, Springer: Berlin 2009

McCandless, George, The ABCs of RBCs, Harvard University Press: Cambridge, MA 2008


More information:

Recommended semester: Master
Field of study: Master iVWL: Major, Minor; Master iBWL: Major, Minor; Diplom iVWL: Cluster
Duration: 4 SWS
Type: V - Vorlesung
Semester: SS 2017