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Computation of Business-Cycle Models with the Generalized Schur Method
Heer, Burkhard; Maussner, Alfred - CESifo - 2009
We describe an algorithm that is able to compute the solution of a singular linear difference system under rational … expectations. The algorithm uses the Generalized Schur Factorization and is illustrated by a simple example. …
Persistent link: https://www.econbiz.de/10008572539
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Computation of business-cycle models with the Generalized Schur Method
Heer, Burkhard; Maußner, Alfred - 2009
We describe an algorithm that is able to compute the solution of a singular linear difference system under rational … expectations. The algorithm uses the Generalized Schur Factorization and is illustrated by a simple example. -- stochastic dynamic … general equilibrium ; linear solution methods ; algorithm ; Generalized Schur factorization ; business cycles …
Persistent link: https://www.econbiz.de/10003922867
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Computation of Business-Cycle Models with the Generalized Schur Method
Heer, Burkhard - 2009
We describe an algorithm that is able to compute the solution of a singular linear difference system under rational … expectations. The algorithm uses the Generalized Schur Factorization and is illustrated by a simple example …
Persistent link: https://www.econbiz.de/10013153227
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Approximation Errors of Perturbation Methods in Solving a Class of Dynamic Stochastic General Equilibrium Models
Liu, Xuan - 2013
We establish the standard procedures in solving a class of dynamic stochastic general equilibrium models with a second-order approximation to the policy function. The innovation is that the means of exogenous shocks vary with the variances. The numerical results show that second-order...
Persistent link: https://www.econbiz.de/10013091188
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Computation of business cycle models : a comparison of numerical methods
Heer, Burkhard; Maußner, Alfred - 2004
We compare the numerical methods that are most widely applied in the computation of the standard business cycle model with flexible labor. The numerical techniques imply economically insignificant differences with regard to business cycle summary statistics except for the volatility of...
Persistent link: https://www.econbiz.de/10010275772
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Computation of business cycle models : a comparison of numerical methods
Heer, Burkhard; Maußner, Alfred - 2004
We compare the numerical methods that are most widely applied in the computation of the standard business cycle model with flexible labor. The numerical techniques imply economically insignificant differences with regard to business cycle summary statistics except for the volatility of...
Persistent link: https://www.econbiz.de/10011449266
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A Comparison of Numerical Methods for the Solution of Continuous-Time DSGE Models
Parra-Alvarez, Juan Carlos - 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/10013072550
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Heterogeneity in macroeconomics and the minimal econometricinterpretation for model comparison
Cozzi, Marco - 2014
This paper formally compares the fit of various versions of the incomplete markets model with aggregate uncertainty, relying on a simple Bayesian empirical framework. The models differ in the degree of households' heterogeneity, with a focus on the role of preferences. For every specification,...
Persistent link: https://www.econbiz.de/10010434845
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Computation of Business Cycle Models. A Comparison of Numerical Methods
Heer, Burkhard; Maussner, Alfred - 2021
We compare the numerical methods that are most widely applied in the computation of the standard business cycle model with flexible labor. The numerical techniques imply economically insignificant differences with regard to business cycle summary statistics except for the volatility of...
Persistent link: https://www.econbiz.de/10013319228
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Comparing solution methods for DSGE models with labor market search
Lan, Hong - 2014 - This Version: September 11, 2014
I compare the performance of solution methods in solving a standard real business cycle model with labor market search frictions. Under the conventional calibration, the model is solved by the projection method using the Chebyshev polynomials as its basis, and the perturbation methods up to...
Persistent link: https://www.econbiz.de/10010405123