(in Excel)
The Dynamic IS-LM model
- The Dynamic IS-LM model (pdf)
- The Dynamic IS-LM model (Excel)
- References: Hicks, J. R. (1937). Mr. Keynes and the ‘Classics’: A suggested interpretation. Econometrica, 5(2): 147–159. Meade, J. E. (1937). A simplified model of Mr. Keynes’ system. Review of Economic Studies, 4(2): 98–107. Phillips, A. W. (1958). The relation between unemployment and the rate of change of money wage rates in the United Kingdom 1861–1957. Economica, 25(100): 289-299.
The Dornbusch exchange rate overshooting model
- Dornbusch’s model (pdf)
- Dornbusch’s model (Excel)
- Reference: Dornbusch, R. (1976). Expectations and exchange rate dynamics. Journal of Political Economy, 84(6): 1161-1176.
The basic household maximization problem
- Basic household maximization problem (pdf)
- Basic household maximization problem (Excel)
- Reference: von Neumann, J. and Morgenstern, O. (1944). Theory of Games and Economic Behavior. Princeton University Press.
The household maximization problem with labor supply
- Household maximization problem with labor supply (pdf)
- Household maximization problem with labor supply (Excel)
- Reference: von Neumann, J. and Morgenstern, O. (1944). Theory of Games and Economic Behavior. Princeton University Press.
The Tobin Q model
- The Tobin Q model (pdf)
- The Tobin Q model (Excel)
- References: Tobin, J. (1969). A general equilibrium approach to monetary theory. Jornal of Money, Credit and Banking, 1(1): 15-29. Hayashi, F. (1982). Tobin’s marginal q and average q: A neoclassical interpretation. Econometrica, 50(1): 213-224.
The Real Business Cycle model
- The Real Business Cycle (RBC) model (pdf)
- The Real Business Cycle (RBC) model. Method 1 (Excel)
- The Real Business Cycle (RBC) model. Method 2 (Excel)
- Reference: Kydland F.E. and Prescott E.C. (1982). Time to build and aggregate fluctuations. Econometrica, 50(6): 1345-1370.
Investment-Specific Technological Change
- The ISTC model (pdf)
- The ISTC model (Excel)
- Reference: Greenwood, J., Hercowitz, Z. and Krusell, P. (2000). The role of investment-specific technological change in the business cycle. European Economic Review, 44(1): 91-115.
The Solow growth model
- The Solow growth model (pdf)
- The Solow growth model (Excel)
- References: Solow, R.M. (1956). A contribution to the theory of economic growth. Quarterly Journal of Economics, 70(1): 65-94. Swan, T.W. (1956): Economic growth and capital accumulation. Economic Record, 32(2): 334-361.
The Ramsey optimal growth model
- The Ramsey optimal growth model (pdf)
- The Ramsey optimal growth model (Excel)
- Reference: Ramsey, F.P. (1928). A mathematical theory of saving. Economic Journal, 38(152): 543-559.