IAMA, Lecture #12 The Stochastic Growth (RBC) Model, I
Overview:
• The stochastic growth (RBC) model: Background, history and perspective
• General setup and approaches to solving household expected utility-maximization problem
• The firm’s profit maximization problem
• Technology – the sole exogenous forcing variable
• Characterizing decentralized market equilibrium as steady state
• Loglinearization
by Prof. Burda
more helpful content:
https://www.youtube.com/@macronotes36...
#macroeconomics #analysis #rbc #growth #technology #lagrange #loglinearization