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Numerical solution of continuous-time DSGE models under poisson uncertainty

Posch, Olaf; Trimborn, Timo - 2010

We propose a simple and powerful method for determining the transition process in continuous-time DSGE models under Poisson uncertainty numerically. The idea is to transform the system of stochastic differential equations into a system of functional differential equations of the retarded type....

Persistent link: https://www.econbiz.de/10010270397

Identification problems in ESTAR models and a new model

Donauer, Stefanie; Heinen, Florian; Sibbertsen, Philipp - 2010

In ESTAR models it is usually difficult to determine parameter estimates, as it can be observed in the literature. We show that the phenomena of getting strongly biased estimators is a consequence of the so-called identification problem, the problem of properly distinguishing the transition...

Persistent link: https://www.econbiz.de/10010270399

Evaluating a class of nonlinear time series models

Heinen, Florian - 2010

We consider a recently proposed class of nonlinear time series models and focus mainly on misspecification testing for models of such type. Following the modeling cycle for nonlinear time series models of specification, estimation and evaluation we first treat how to choose an adequate...

Persistent link: https://www.econbiz.de/10010270400

Status preferences and optimal corrective taxes: A note

Beckmann, Klaus; Gattke, Susan - 2008

We take issue with the argument expounded, among others, by Layard (2006, Economic Journal) that status-seeking preferences justify heavier taxation of income because this serves to internalise the negative externality that the pursuit of status imposes on others. In a model where status depends...

Persistent link: https://www.econbiz.de/10010270403

Budget deficit, size of the public sector and majority voting

Siebel, Jens - 2005

In this paper Tabellini's and Alesina's (1990) median voter model for the explanation of budget deficits is modified by endogenizing the private sector. Debt finance is supplemented by taxing a private consumption which serves as an additional source of revenue for funding the public sector. The...

Persistent link: https://www.econbiz.de/10010270404

Maximal Arbitrage

Schürger, Klaus - 2002

Let S=(S_t), t=0,1,...,T (T being finite), be an adapted R^d-valued process. Each component process of S might be interpreted as the price process of a certain security. A trading strategy H=(H_t), t= 1,...,T, is a predictable R^d-valued process. A strategy H is called extreme if it represents a...

Persistent link: https://www.econbiz.de/10010270405

A neo-darwinian foundation of evolutionary economics: With an application to the theory of the firm

Rahmeyer, Fritz - 2010

theory of innovation and later - based on Penrose - to resource-based theories of the firm. In this the dynamic process of … theory of the firm. …

Persistent link: https://www.econbiz.de/10010270409

Modelling the folk theorem of spatial economics: A heterogeneous regional growth model

Klarl, Torben - 2009

. Knowledge spillovers, which are non constant over space, should influence the evolution of the region specific productivity. The … distribution of per capita productivity are closely linked. Thus, the aim of this paper is, to introduce a spatial regional growth … model, which links first time knowledge spillover, agglomeration, distribution of per capita productivity and the grasp of …

Persistent link: https://www.econbiz.de/10010270410

Firm heterogeneity, credit constraints, and endogenous growth

Klarl, Torben; Maußner, Alfred - 2010

firm heterogeneity. It allows for an explicit solution for transitional growth and balanced growth path productivity as …

Persistent link: https://www.econbiz.de/10010270411

A Neo-Schumpeterian approach towards public sector economics

Hanusch, Horst; Pyka, Andreas; Wackermann, Florian - 2009

Innovation is the major driver of economic growth and development. To analyze innovation processes the restriction of a framework suited to the analysis of innovation towards the industrial sphere of an economy is not sufficient because of the important co-evolutionary dimensions of innovation....

Persistent link: https://www.econbiz.de/10010270414