The course covers identification and estimation of stochastic dynamic programming models. Sources of error (measurement error, imperfect control, random utility) are treated. Issues of discrete versus continuous time, finite versus infinite horizon, and discrete versus continuous states and controls are considered.
Applications are drawn from a variety of fields. Macroeconomic applications: DSGE models, production function estimation, consumption, labor demand and supply, asset pricing, time to build, time inconsistency of optimal plans, money. Department of Economics and Business.
Period
13-08-2012 - 17-08-2012 (1 weeks)
Target group
Master (advanced)
Course aim
Please see website for further information.
Credits
5.0 ECTS credits
Course fee
EUR 1: Please see website for further information: http://www.au.dk/en/summeruniversity/application/tuitionfeeandparticipationfee/
Course leader
Bent Jesper Christensen, Aarhus University
Aarhus University International Centre
Address: Hoeg Guldbergs Gade 4, building 1650 Aarhus C
Postal code: 8000
City: Aarhus
Country: Denmark
Website: http://www.au.dk/summeruniversity
E-mail: SummerUniversity@adm.au.dk
Phone: +45 8942 2320
Economic Modeling and Inference
