Numerical Methods in Economics

€ 100,49
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November 1998



To harness the full power of computer technology, economists need to usea broad range of mathematical techniques. In this book, Kenneth Judd presentstechniques from the numerical analysis and applied mathematics literatures and showshow to use them in economic analyses.The book is divided into five parts. Part Iprovides a general introduction. Part II presents basics from numerical analysis onR DEGREESn, including linear equations, iterative methods, optimization, nonlinearequations, approximation methods, numerical integration and differentiation, andMonte Carlo methods. Part III covers methods for dynamic problems, including finitedifference methods, projection methods, and numerical dynamic programming. Part IVcovers perturbation and asymptotic solution methods. Finally, Part V coversapplications to dynamic equilibrium analysis, including solution methods for perfectforesight models and rational expectation models. A web site contains supplementarymaterial including programs and answers to exercises.


Part 1 Introduction: introduction; elementary concepts in numerical analysis. Part 2 Basics from numerical analysis on Rn: linear equations and iterative methods; optimization; nonlinear equations; approximation methods; numerical integration and differentiation; Monte Carlo and simulation methods; quasi-Monte Carlo methods. Part 3 Numerical methods for functional problems: finite-difference methods; projection methods for functional equations; numerical dynamic programming. Part 4 Perturbation methods: regular perturbation of simple systems; regular perturbations in multidimensional systems; advanced asymptotic methods. Part 5 Applications to dynamic equilibrium analysis; solution methods for perfect foresight models; solving rational expectations models.


"Judd's book is a masterpiece which will help transform the way economictheory is done. It harnesses the computer revolution in the service ofeconomic theory by collecting together a whole array of numerical methodsto simulate and quantify models that used to be purely algebraic andqualitative." Avinash K. Dixit , Sherrerd University Professor of Economics, Princeton University
EAN: 9780262100717
ISBN: 0262100711
Untertitel: Sprache: Englisch.
Verlag: MIT University Press Group Ltd
Erscheinungsdatum: November 1998
Format: gebunden
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