Arbeitspapier
A Comparison of Solution Methods for Real Business Cycle Models
This paper discusses solution procedures for real business cycle (RBC) models. First, we show that the most often used solution methods, the linear-quadratic approximation, the Lagrange multiplier, and the Euler equation approach all lead to the same decision function. Second, we demonstrate that deterministic and stochastic detrending methods which are used to transform the growing model economy to a stationary one, lead to the same model solution, no matter if the technology process has a unit root or not. Third, we show that contrary to statements in the literature the numerical value of the growth rate of the model can have substantial effects on the model results.
- Sprache
-
Englisch
- Erschienen in
-
Series: Volkswirtschaftliche Diskussionsbeiträge ; No. 66-98
- Klassifikation
-
Wirtschaft
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Ehlgen, Jürgen
- Ereignis
-
Veröffentlichung
- (wer)
-
Universität Siegen, Fakultät III, Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht
- (wo)
-
Siegen
- (wann)
-
1998
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Ehlgen, Jürgen
- Universität Siegen, Fakultät III, Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht
Entstanden
- 1998
Ähnliche Objekte (12)
Computation of Business Cycle Models: A Comparison of Numerical Methods
Computation of business cycle models : a comparison of numerical methods
The Canadian business cycle: A comparison of models
Business cycle prediction using support vector methods
Business Cycle Prediction Using Support Vector Methods
A Comparison of Exchange Economies within a Monetary Business Cycle
The life cycle and the business cycle of wage risk: a cross country comparison
The life-cycle and the business-cycle of wage risk: a cross-country comparison
Business cycle theory : a survey of methods and concepts
Business cycle theory : a survey of methods and concepts
Business cycle narratives
Business Cycle Narratives
Computation of Business Cycle Models: A Comparison of Numerical Methods
Computation of business cycle models : a comparison of numerical methods
The Canadian business cycle: A comparison of models
Business cycle prediction using support vector methods
Business Cycle Prediction Using Support Vector Methods
A Comparison of Exchange Economies within a Monetary Business Cycle
The life cycle and the business cycle of wage risk: a cross country comparison
The life-cycle and the business-cycle of wage risk: a cross-country comparison
Business cycle theory : a survey of methods and concepts
Business cycle theory : a survey of methods and concepts
Business cycle narratives
Business Cycle Narratives
Computation of Business Cycle Models: A Comparison of Numerical Methods
Computation of business cycle models : a comparison of numerical methods
The Canadian business cycle: A comparison of models
Business cycle prediction using support vector methods
Business Cycle Prediction Using Support Vector Methods
A Comparison of Exchange Economies within a Monetary Business Cycle
The life cycle and the business cycle of wage risk: a cross country comparison
The life-cycle and the business-cycle of wage risk: a cross-country comparison
Business cycle theory : a survey of methods and concepts
Business cycle theory : a survey of methods and concepts
Business cycle narratives