Simulating a Simple Real Business Cycle Model Using Excel

Toru Hokari (), Masaki Iimura, Seiji Murakoshi and Yoshiko Onuma
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Toru Hokari: University of Tsukuba
Masaki Iimura: University of Tsukuba
Seiji Murakoshi: University of Tsukuba
Yoshiko Onuma: University of Tsukuba

Computers in Higher Education Economics Review, 2007, vol. 19, issue 1, 16-20

Abstract: Simulating the real business cycle models is a popular topic in first-year graduate courses on macroeconomics. Usually, Maple and Matlab are used for this purpose, mainly because they can be used both for solving and for simulating the models. Strulik (2004) demonstrates that Excel can be used both for solving and for simulating a standard RBC model. In this paper, we propose a more elementary approach that might be suitable for undergraduate courses. We illustrate (i) how to solve a simple RBC model by hand and (ii) how to use Excel to simulate the solution.

Date: 2007
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