Showing 1 - 10 of 10,488
Persistent link: https://www.econbiz.de/10003971783
Persistent link: https://www.econbiz.de/10001595025
This paper compares different solution methods for computing the equilibrium of dynamic stochastic general equilibrium (DSGE) models with recursive preferences such as those in Epstein and Zin (1989 and 1991) and stochastic volatility. Models with these two features have recently become popular,...
Persistent link: https://www.econbiz.de/10013111574
Persistent link: https://www.econbiz.de/10012589550
This paper develops a new theoretical framework, introducing into the traditional real business cycle model a second sector, which we interpret as representing the underground economy. We find that a model with an underground sector is quite successful in matching the stylized facts of the...
Persistent link: https://www.econbiz.de/10014124269
factor productivity shocks and where investment behaviour at the single plant level follows an (S,s) policy. We assume that … in the case of investment (disinvestment) there are positive (negative) localised spill-over effects because of factor …" state where there exists a positive, highly volatile aggregate investment rate which depends on the size of the …
Persistent link: https://www.econbiz.de/10014124413
Persistent link: https://www.econbiz.de/10011396918
Persistent link: https://www.econbiz.de/10010532729
Persistent link: https://www.econbiz.de/10011345229
Persistent link: https://www.econbiz.de/10010339102