المستودع الأكاديمي جامعة المدينة

Computation of business cycle models : a comparison of numerical methods

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dc.creator Heer, Burkhard
dc.creator Maußner, Alfred
dc.date 2004
dc.date.accessioned 2013-10-16T07:01:34Z
dc.date.available 2013-10-16T07:01:34Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/18846
dc.identifier ppn:389732796
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/18846
dc.description 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 investment. Furthermore, these results are robust with regard to the choice of the functional form of the utility function and the model?s parameterization. In conclusion, the simplest and fastest method, the log-linearization of the model around the steady state, is found to be most convenient and appropriate for the standard business cycle model.
dc.language eng
dc.relation CESifo working papers 1207
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject E32
dc.subject C68
dc.subject C63
dc.subject ddc:330
dc.subject log-linearization
dc.subject projection methods
dc.subject extended path
dc.subject value function iteration
dc.subject parameterized expectations
dc.subject genetic search
dc.subject Konjunkturtheorie
dc.subject Arbeitsmarktflexibilisierung
dc.subject Numerisches Verfahren
dc.subject Vergleich
dc.subject Theorie
dc.title Computation of business cycle models : a comparison of numerical methods
dc.type doc-type:workingPaper


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