Measuring business cycles with business-cycle models
Article Abstract:
Business cycle theory is used to measure or define the business-cycle component of the macroeconomic time series. Detrending filters are parametrized to optimize the capability of a business-cycle model to match the moments of the leftover cycles. In the first of two applications to US postwar data, measurement of the cycles is done with a standard, real-business-cycle model. In the other application, measurement is performed through information on capacity utilization and unemployment rates. The properties of the GMM estimators are described using simulation methods.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
An analytical approximate solution to the problem of precautionary savings
Article Abstract:
Research was conducted to examine the problem of precautionary savings for an expected utility specification with finite horizon. A simple analytic approximation of the optical consumption path based on a Taylor expansion around the certain equivalent was derived. The approximation was found to be very accurate for realistic values of the parameters of the problem when returns are deterministic and labor income follows an arithmetic random walk.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Differential savings, factor shares, and endogenous growth cycles
Article Abstract:
The neoclassical one-sector growth model is analyzed.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Welfare-improving health expenditure subsidies. On the importance of the precautionary saving motive. Growth: with or without scale effects?
- Abstracts: Hotelling location problems with directional constraints: an application to television news scheduling. The provision of (two-way) converters in the transition process to a new incompatible technology
- Abstracts: Pricing and access under national competition policy: the case of the natural gas pipeline sector. Fiscal policy in Australia and Southeast Asia: an overview
- Abstracts: Renegotiation design with multiple regulators. Rates of information aggregation in common value auctions. Strategic trade policy design with asymmetric information and public contracts corrigendum
- Abstracts: Using genetic algorithms to find technical trading rules. Debt and the terms of employment