Teaching Macroeconomics with GAMS

Authors:
P. Ruben Mercado;David A. Kendrick;Hans Amman
Affiliations:
Department of Economics, University of Texas, Austin, Texas, USA E-mail: pmercado@eco.utexas.edu;Department of Economics, University of Texas, Austin, Texas, USA E-mail: pmercado@eco.utexas.edu;University of Amsterdam, The Netherlands
Venue:
Computational Economics
Year:
1998

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Abstract

Our general goal in this paper is to show how toimplement in GAMS standard deterministic nonlinearmacro models, and stochastic linear macro models withrational expectations. We will also present basicconcepts on solution methods and policy analysis forthese kinds of models. As a practical illustration, wewill use some well known teaching and experimentalmodels in the macroeconomic literature.