Lecture

Small Open Economy Modeling

In course

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Description

This lecture covers the modeling of a small open economy where the representative agent maximizes lifetime utility subject to budget constraints and stochastic productivity shocks. Topics include Lagrangian formulation, first-order conditions, borrowing constraints, steady-state analysis, and impulse response plotting. The lecture also explores the effects of relaxing borrowing constraints on capital stock, output, debt, and consumption. MATLAB is used to code the model and analyze the responses to productivity shocks.

Instructor

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Official source

https://mediaspace.epfl.ch/media/0_m3lprp8v

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Computer engineering

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Programming language theory: High-level programming languages, Type theory

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Finance: Investment management

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