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Sectorial fluctuations and economic growth impact
Valdivia, Daney - Volkswirtschaftliche Fakultät, … - 2012
impact (manufacturing, agriculture and services) on economic growth through 1970 – 2011 and three cohorts. In these sense, it … hypothesis that the manufacturing sector boosts economic growth more than the others. This sector shows high persistence during … technification that supports its low contribution to economic growth previous to 2001 – 2011. …
Persistent link: https://www.econbiz.de/10011258766
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Long-run trend, Business Cycle & Short-run shocks in real GDP
Arby, Muhammad Farooq - Volkswirtschaftliche Fakultät, … - 2001
decomposition of real GDP of Pakistan reveals that the Pakistan’s economy has a declining growth in long-run trend since early 1980s …
Persistent link: https://www.econbiz.de/10005787051
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Trend agnostic one step estimation of DSGE models
Ferroni, Filippo - Volkswirtschaftliche Fakultät, … - 2009
DSGE models are currently estimated with a two step approach: data is first filtered and then DSGE structural parameters are estimated. Two step procedures have problems, ranging from trend misspecification to wrong assumption about the correlation between trend and cycles. In this paper, I...
Persistent link: https://www.econbiz.de/10005835776
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Economic system dynamics
McCauley, Joseph L.; Küffner, Cornelia M. - Volkswirtschaftliche Fakultät, … - 2004
We provide the reader with a qualitative summary of the main ideas from econophysics and finance theory, starting with a thorough criticism of the standard ideas taught in typical economics textbooks. The emphasis is on the Galilean or physicists' approach to market synamics, as opposed to the...
Persistent link: https://www.econbiz.de/10005835847
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Comparing Models of Macroeconomic Fluctuations: How Big Are the Differences?
Ghent, Andra - Volkswirtschaftliche Fakultät, … - 2006
I generate priors for a VAR from four competing models of economic fluctuations: a standard RBC model, Fisher’s (2006) investment-specific technology shocks model, an RBC model with capital adjustment costs and habit formation, and a sticky price model with an unaccommodating monetary...
Persistent link: https://www.econbiz.de/10005836550
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Economies of scale in banking, confidence shocks, and business cycles
Dressler, Scott J. - Volkswirtschaftliche Fakultät, … - 2009
This paper quantitatively investigates equilibrium indeterminacy due to economies of scale (ES) in financial intermediation. Financial intermediation provides deposits (inside money) which can substitute with currency to purchase consumption, and depositing decisions are susceptible to...
Persistent link: https://www.econbiz.de/10005837365
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Analysis of green net national product and genuine saving in Portugal, 1991 - 2005
Mota, Rui Pedro; Domingos, Tiago; Martins, Victor - Volkswirtschaftliche Fakultät, … - 2008
The context of this paper is the measurement of welfare and weak sustainability, defined as non-declining utility, in dynamic economies, i.e., green, environmental or comprehensive accounting. We estimate the green net national product and genuine saving for Portugal 1991-2005, accounting for...
Persistent link: https://www.econbiz.de/10005837389
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On smoothing macroeconomic time series using HP and modified HP filter
Choudhary, Ali; Hanif, Nadim; Iqbal, Javed - Volkswirtschaftliche Fakultät, … - 2013
In business cycle research, smoothing data is an essential step in that it can influence the extent to which model-generated moments stand up to their empirical counterparts. To demonstrate this idea, we compare the results of McDermott’s (1997) modified HP-filter with the conventional...
Persistent link: https://www.econbiz.de/10011257993
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The failure of financial macroeconomics and what to do about it
Chatelain, Jean-Bernard; Ralf, Kirsten - Volkswirtschaftliche Fakultät, … - 2012
The bargaining power of international banks is currently still very high as compared to what it was at the time of the Bretton Woods conference. As a consequence, systemic financial crises are likely to remain recurrent phenomena with large effects on macroeconomic aggregates. Mainstream...
Persistent link: https://www.econbiz.de/10011257997
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Identification of Liechtenstein's Historic Economic Growth and Business Cycles by Econometric Extensions of Data Series
Brunhart, Andreas - Volkswirtschaftliche Fakultät, … - 2012
, Liechtenstein’s economic growth pattern is being identified, the business cycles are detected and first analytical insights are …
Persistent link: https://www.econbiz.de/10011258407