Models and Reality: Teaching Macroeconomics in the Nineties

Authors

  • Jorge A. Quiroz ILADES-Georgetown University
  • Francisco A. Bernasconi ILADES-Georgetown University
  • Rómulo A. Chumacero ILADES-Georgetown University
  • César L. Revoredo ILADES-Georgetown University

Keywords:

macroeconomic modeling, deep parameters, stochastic dynamic models, calibration, Latin America, real business cycles

Abstract

This paper provides a basic methodological guide for formulating, solving, and calibrating simple nonlinear stochastic dynamic macro models. The paper illustrates the usefulness of the various techniques by means of different numerical exercises applied to the economies of Bolivia, Chile, and Peru.

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Published

2010-03-11

How to Cite

Quiroz, J. A., Bernasconi, F. A., Chumacero, R. A., & Revoredo, C. L. (2010). Models and Reality: Teaching Macroeconomics in the Nineties. Economic Analysis Review, 6(2), 79–103. Retrieved from https://www.rae-ear.org/index.php/rae/article/view/243

Issue

Vol. 6 No. 2 (1991)

Section

Articles