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1、RobertE.LucasJr.JournalofEconomicTheory144(2009)22352246www.elsevier.com/locate/jetIntroductiontodynamicgeneralequilibriumLeeE.Ohaniana,EdwardC.Prescottb,c,NancyL.Stokeyd,∗aDepartmentofEconomics,U.C.L.A.,8391BuncheHall,LosAngeles,CA90095-1477,USAbDepartmentofEcon
2、omics,ArizonaStateUniversity,Tempe,AZ85287,USAcResearchDepartment,FederalReserveBankofMinneapolis,Minneapolis,MN55401,USAdDepartmentofEconomics,UniversityofChicago,1126E.59thStreet,Chicago,IL60637,USAReceived17July2009;accepted5August2009Availableonline10Septembe
3、r2009AbstractThisintroducesthesymposiumondynamicgeneralequilibrium.©2009ElsevierInc.Allrightsreserved.JELclassification:E10;E20;E30Keywords:Macroeconomics;DynamicgeneralequilibriumThewayaggregateeconomicsisdonehaschangeddramaticallyoverthelastfourdecades:arevoluti
4、onhasoccurred.Themethodsofmicroeconomics,generalequilibriumtheory,controltheory,dynamicprogramming,statisticaldecisiontheory,andgametheoryhavebeenadoptedbymacroeconomistsandadaptedtoaddressquestionsthatinvolvemarketinteractionsamongratio-nal,forward-lookingagents
5、,indynamicsettingsthatexperiencestochasticshocks.Nolongerdomacroeconomistssimplypositaggregatelaborsupplyasafunctionofthecontemporaneouswageandletitgoatthat.Dynamicgeneralequilibriummodelsthatcanbeconstructedwiththenewmethodshavebeenusedtoaddressbothtraditionalma
6、croeconomicquestionsandawidearrayofnewproblems.Everyaspectofaggregativemodelinghasbeenaffectedbythisrevolution:investmenttheory,modelsoflaborsupplyandlabormarketfrictions,businesscycletheory,thewayriskandexpec-tationsaremodeled,modelsofassetprices,monetarytheory,
7、modelsoffiscalpolicy,modelsof*Correspondingauthor.Fax:+17737028490.E-mailaddresses:ohanian@econ.ucla.edu(L.E.Ohanian),edward.prescott@asu.edu(E.C.Prescott),nstokey@uchicago.edu(N.L.Stokey).0022-0531/$seefrontmatter©2009ElsevierInc.Allrightsreserved.doi:10.1016/j.j
8、et.2009.09.001L.E.Ohanianetal./JournalofEconomicTheory144(2009)2235–22462237longrungrowth,andmanyothers.Noareaofeconomicshasbeenuntouched.Indeed,thenewmethodsh
