Chadha, Jagjit S; Janssen, Norbert; Nolan, Charles - In: Manchester School 69 (2001) Supplement, pp. 57-80
Following Hall (1997) it is increasingly common to incorporate preference, as well as productivity, perturbations in calibrated general equilibrium models. We assess the performance of a small open economy stochastic growth model (based on the Blanchard-Yaari framework) under alternative driving...