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Equation Discovery for Macroeconomic Modelling

Kazakov, Dimitar - 2017

This article describes a machine learning based approach applied to acquiring empirical forecasting models. The approach makes use of the LAGRAMGE equation discovery tool to define a potentially very wide range of equations to be considered for the model. Importantly, the equations can vary in...

Persistent link: https://www.econbiz.de/10012962711

Behavioral Economics and Macroeconomic Models

Driscoll, John C. - 2014

Over the past 20 years, macroeconomists have incorporated more and more results from behavioral economics into their models. We argue that doing so has helped fixed deficiencies with standard approaches to modeling the economy -- for example, the counterfactual absence of inertia in the standard...

Persistent link: https://www.econbiz.de/10013051880

Behavioral Economics and Macroeconomic Models

Driscoll, John C. - 2014

Over the past 20 years, macroeconomists have incorporated more and more results from behavioral economics into their models. We argue that doing so has helped fixed deficiencies with standard approaches to modeling the economy — for example, the counterfactual absence of inertia in the...

Persistent link: https://www.econbiz.de/10013055697

A SIR macro model : comparing the decentralized economy and the optimal policy

Rodriguez, Alejandro - 2020

We present a Simple SIR Macro Model to study the economic impact of an epidemic in a model were agent types are unobservable. We solve for the decentralized economy equilibrium and for optimal solution (subject to the constraint that the planner cannot differentiate between agent types). We find...

Persistent link: https://www.econbiz.de/10012254257

Assessing the Impact of Basel III : Evidence from Structural Macroeconomic Models

de Bandt, Olivier; Durdu, Ceyhun Bora; Hibiki, Ichue; … - 2022

This paper reviews the different channels of transmission of prudential policy highlighted in the literature and provides a quantitative assessment of the impact of Basel III reforms using “off-the-shelf” DSGE models. It shows that the effects of regulation are positive on GDP whenever the...

Persistent link: https://www.econbiz.de/10013306411

Assessing the Impact of Basel III : Evidence from Structural Macroeconomic Models

Bandt, Olivier De; Durdu, Ceyhun Bora; Ichiue, Hibiki; … - 2022

This paper (i) reviews the different channels of transmission of prudential policy highlightedin the literature and (ii) provides a quantitative assessment of the impact of Basel III reforms using "off-the-shelf" DSGE models. It shows that the effects of regulation are positive on GDP whenever...

Persistent link: https://www.econbiz.de/10013309452

Agents as empirical macroeconomists : Thomas J. Sargents's contribution to economics

Uhlig, Harald - In: The Scandinavian journal of economics 114 (2012) 4, pp. 1055-1081

Persistent link: https://www.econbiz.de/10009744353

The behavioral economics of John Maynard Keynes

Schettkat, Ronald - 2018

After the publication of Keynes' "General Theory," economics was frequently described as schizophrenia: (neo … or reclassified in the neoclassical synthesis. Keynes' General Theory is truly general. It includes the full … recent results in behavioral economics. Keynes' macroeconomics is the result of his microeconomics. Keynes' theory is a …

Persistent link: https://www.econbiz.de/10011929683

Tests of policy ineffectiveness in macroeconometrics

Pesaran, M. Hashem; Smith, Ron - 2014

This paper proposes tests of policy ineffectiveness in the context of macroeconometric rational expectations models. It is assumed that there is a policy intervention that takes the form of changes in the parameters of a policy rule, and that there are sufficient observations before and after...

Persistent link: https://www.econbiz.de/10010375404

Tests of policy ineffectiveness in macroeconometrics

Peseran, Hashem; Smith, Ron - 2014

Persistent link: https://www.econbiz.de/10010366297

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