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This paper demonstrates a failure of standard, generalized Schur (orQZ) decomposition based solutions methods for linear dynamic stochastic general equilibrium (DSGE) models when there is insufficient eigenvalue separation about the unit circle. The significance of this is demonstrated in a...
Persistent link: https://www.econbiz.de/10012483338
We present an accurate and efficient method for Bayesian forecasting of two financial risk measures, Value-at-Risk and Expected Shortfall, for a given volatility model. We obtain precise forecasts of the tail of the distribution of returns not only for the 10-days-ahead horizon required by the...
Persistent link: https://www.econbiz.de/10011979983
This paper presents and compares Newton-based methods from the applied mathematics literature for solving the matrix quadratic that underlies the recursive solution of linear DSGE models. The methods are compared using nearly 100 different models from the Macroeconomic Model Data Base (MMB) and...
Persistent link: https://www.econbiz.de/10013368452
Persistent link: https://www.econbiz.de/10014548144
This paper applies structure preserving doubling methods to solve the matrix quadratic underlying the recursive solution of linear DSGE models. We present and compare two Structure-Preserving Doubling Algorithms (SDAs) to other competing methods - the QZ method, a Newton algorithm, and an...
Persistent link: https://www.econbiz.de/10014444739
This paper presents and compares Bernoulli iterative approaches for solving linear DSGE models. The methods are compared using nearly 100 different models from the Macroeconomic Model Data Base (MMB) and different parameterizations of the monetary policy rule in the medium-scale New Keynesian...
Persistent link: https://www.econbiz.de/10014252497
I argue that a form of consciousness may be found in American economic history, one which is both mathematically demonstrable and important. In this book I present a model of economic and political growth based upon systematic addition. We begin with a philosophic model of trade (pp. 34-46);...
Persistent link: https://www.econbiz.de/10015235739
Biogas production is one of the most promising pathways toward fully utilizing green energy within a circular economy. The anaerobic digestion process is the industry standard technology for biogas production due to its lowered energy consumption and its reliance on microbiology. Even in such an...
Persistent link: https://www.econbiz.de/10015265006
The paper presents a general empirical method of distance-based multifaceted systematic identifying of the positions of countries in relation to inequalities and imbalances. In order to understand the world economic relations in their entirety, we decided to analyze twelve most populous...
Persistent link: https://www.econbiz.de/10015236186
This paper presents interesting correlations which exist between a model of long-wave economic activity and crisis in the United States – “the Political Economy wave” – and the structure of the rings of Saturn, one of the most confounding structures known to science. At the present time...
Persistent link: https://www.econbiz.de/10015242090