{"product_id":"the-abcs-of-rbcs-an-introduction-to-dynamic-macroeconomic-models-9780674028142","title":"The ABCs of RBCs: An Introduction to Dynamic Macroeconomic Models","description":"\u003cp\u003eThe ABCs of RBCs is the first book to provide a basic introduction to Real Business Cycle (RBC) and New-Keynesian models. These models argue that random shocksnew inventions  droughts  and wars  in the case of pure RBC models  and monetary and fiscal policy and international investor risk aversion  in more open interpretationscan trigger booms and recessions and can account for much of observed output volatility.  George McCandless works through a sequence of these Real Business Cycle and New-Keynesian dynamic stochastic general equilibrium models in fine detail  showing how to solve them  and how to add important extensions to the basic model  such as money  price and wage rigidities  financial markets  and an open economy. The impulse response functions of each new model show how the added feature changes the dynamics.  The ABCs of RBCs is designed to teach the economic practitioner or student how to build simple RBC models. Matlab code for solving many of the models is provided  and careful readers should be able to construct  solve  and use their own models.  In the tradition of the freshwater economic schools of Chicago and Minnesota  McCandless enhances the methods and sophistication of current macroeconomic modeling.\u003c\/p\u003e","brand":"My Store","offers":[{"title":"Default Title","offer_id":45652536000565,"sku":"ByrdShop_0674028147","price":97.2,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0627\/8139\/0901\/files\/9780674028142.jpg?v=1781851909","url":"https:\/\/atxbooks.com\/products\/the-abcs-of-rbcs-an-introduction-to-dynamic-macroeconomic-models-9780674028142","provider":"ATX Books","version":"1.0","type":"link"}