Computational Macroeconomics for the Open Economy
"Dynamic equilibrium models are at the center of modern research in open macroeconomics. However, graduate students and policy researchers often find it difficult to get started in this literature. Lim and McNelis' book fills this gap by providing an excellent introduction to the construction and solution of dynamic equilibrium models for small open economics. The authors carefully analyze a prototype economy, which they enrich in each chapter with new aspects, thus allowing the reader to learn the field naturally as the book progresses. Extensive documentation of the code used in the computations and numerous exercises complement the main discussion. Systematic yet concise, this monograph will become a popular reference for both students and researchers in the field."--Jesús Fernández-Villaverde, Department of Economics University ofPennsylvania(Jesus Fernandez-Villaverde)"Lim and McNelis provide a manual that allows the diligent reader interested in open economy macroeconomics to move quickly to the frontier of research. This is not a book to gather dust on the bookshelf. It is a book to be first pored over carefully and then put to use."-- Timothy J. Kehoe, Department of Economics, University of Minnesota(Tim Kehoe)"Dynamic equilibrium models are at the center of modern research in open macroeconomics. However, graduate students and policy researchers often find it difficult to get started in this literature. Lim and McNelis' book fills this gap by providing an excellent introduction to the construction and solution of dynamic equilibrium models for small open economics. The authors carefully analyze a prototype economy, which they enrich in each chapter with new aspects, thus allowing the reader to learn the field naturally as the book progresses. Extensive documentation of the code used in the computations and numerous exercises complement the main discussion. Systematic yet concise, this monograph will become a popular reference for both students and researchers in the field." --Jesús Fernández-Villaverde, Department of Economics University of Pennsylvania"Lim and McNelis provide a manual that allows the diligent reader interested in open economy macroeconomics to move quickly to the frontier of research. This is not a book to gather dust on the bookshelf. It is a book to be first pored over carefully and then put to use." --Timothy J. Kehoe, Department of Economics, University of Minnesota