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Computing Equilibria of Non-Optimal Economies
DANTHINE, Jean-Pierre; DONALDSON, John B. - Départment d'économétrie et d'économie politique … - 1993
Persistent link: https://www.econbiz.de/10005481772
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A kétszáz éves ciklus és az Egyesült Államok. A növekedési ráták alakulása
Bródy, András - In: Közgazdasági Szemle (Economic Review - monthly of the … XLIV (1997) 2, pp. 113-123
theory of this cycle and its antecedents in economic theory. The second part explains the difficulties of determining the …
Persistent link: https://www.econbiz.de/10010963249
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A comparison of numerical methods for the solution of continuous-time DSGE models
Parra-Alvarez, Juan Carlos - School of Economics and Management, University of Aarhus - 2013
This paper evaluates the accuracy of a set of techniques that approximate the solution of continuous-time DSGE models. Using the neoclassical growth model I compare linear-quadratic, perturbation and projection methods. All techniques are applied to the HJB equation and the optimality conditions...
Persistent link: https://www.econbiz.de/10010851250
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The Krusell-Smith Algorithm: Are Self-fulfilling Equilibria Likely?
Cozzi, Marco - Economics Department, Queen's University - 2014
I investigate whether the popular Krusell and Smith algorithm used to solve heterogeneous-agent economies with aggregate uncertainty and incomplete markets is likely to be subject to multiple self-fulfilling equilibria. In a benchmark economy, the parameters representing the equilibrium...
Persistent link: https://www.econbiz.de/10010885962
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R&D and aggregate fluctuations
Artuç, Erhan; Pourpourides, Panayiotis M. - In: Journal of Economic Dynamics and Control 47 (2014) C, pp. 54-71
Empirical observations raise interesting questions regarding the sources of the excessive volatility in the R&D sector as well as the nature of the relation between the sector and aggregate fluctuations. Using US data for the period 1959–2007, we identify sectoral technology and capital...
Persistent link: https://www.econbiz.de/10010939759
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Analysis of various shocks within the high-frequency versions of the baseline New-Keynesian model
Sacht, Stephen - Institut für Volkswirtschaftslehre, … - 2014
' synchronized decision making. We study the impact of various demand and supply shocks on the dynamics of the model variables. We …
Persistent link: https://www.econbiz.de/10010954813
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Cyclical Asset Returns in the Consumption and Investment Goods Sector
Heer, Burkhard; Maußner, Alfred; Süssmuth, Bernd - Verein für Socialpolitik - VfS - 2014
We document the empirical fact that asset prices in the consumption-goods and investment-goods sector behave almost identically in the US economy. In order to derive the cyclical behavior of the equity returns in these two sectors, we onsider a standard two-sector real-business cycle model with...
Persistent link: https://www.econbiz.de/10011212431
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European Union Economy System Dynamic Model Development
Skribans, Valerijs - Volkswirtschaftliche Fakultät, … - 2012
The formation of the European Union (EU) is the one of the biggest political – economic events of the last 50 years. The aim of this study is to develop EU economy functioning system dynamic model. Main research method is system dynamics. General scheme of EU economy system dynamic model is...
Persistent link: https://www.econbiz.de/10011259562
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The Welfare Cost of Business Cycles in an Economy with Nonclearing Markets
Puch, Luis A.; Portier, Franck - Society for Economic Dynamics - SED - 2004
In this paper we measure the welfare cost of fluctuations in a simple representative agent economy with nonclearing markets. The market friction we consider involves price rigidities and a voluntary exchange rationing scheme. These features are incorporated into an otherwise standard...
Persistent link: https://www.econbiz.de/10005085476
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General Equilibrium Implications of the Capital Adequacy Regulation for Banks
Aliaga-Diaz, Roger - Society for Computational Economics - SCE - 2005
until the ratio is restored to the required level. Since production firms can only imperfectly substitute bank lending with … other forms of financing, a negative macroeconomic shock affects production and investment both directly and indirectly … with the demand during recessions. This mechanism has interesting policy implications and provides grounds for a …
Persistent link: https://www.econbiz.de/10005345071