On Some Computational Aspects of Real Business Cycle Theory
On Some Computational Aspects of Real Business Cycle Theory
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In our eReader you can find the full English version of the book. Read On Some Computational Aspects of Real Business Cycle Theory Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book On Some Computational Aspects of Real Business Cycle Theory
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895 hours: 1. 12 . 986 productivity: 2. 43 . 350 A = . 02 (other parameters unchanged) 15 (a) standard deviations (b) correlations with output output : 3. 40 ] . 00 ronsumpt 1 on : 3. 05 . 956 investment : 9. 16 . 898 capatal stork: 5. A] . 910 hours : ] . 33 . 9(>n productivity: 2. 87 . 523 These tables reveal the tendency of the standard deviation in all series to increase as the proportional deviation A increases; capital stock variation appears to increase at the greatest rate. This is not ...surprising as the quadratic approximation is effectively reducing the level of concavity in the utility function which has the consequence of making increased variation in all the series optimal. With regard to the investment function in particular, its linearity under the quadratic approximate regime contrasts with its concavity under the 'exact' formu- lation. For any given variation in output, greater variation in invest- ment will be observed under the linear decision rule.
We also note that the correlation of both consumption and hours with output declines slightly with the increased A, while wage (productivity) correlation with output increases very dramatically.
What to read after On Some Computational Aspects of Real Business Cycle Theory?
You can find similar books in the "Read Also" column, or choose other free books by Jean Pierre Danthine to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
895 hours: 1. 12 . 986 productivity: 2. 43 . 350 A = . 02 (other parameters unchanged) 15 (a) standard deviations (b) correlations with output output : 3. 40 ] . 00 ronsumpt 1 on : 3. 05 . 956 investment : 9. 16 . 898 capatal stork: 5. A] . 910 hours : ] . 33 . 9(>n productivity: 2. 87 . 523 These tables reveal the tendency of the standard deviation in all series to increase as the proportional deviation A increases; capital stock variation appears to increase at the greatest rate. This is not ...surprising as the quadratic approximation is effectively reducing the level of concavity in the utility function which has the consequence of making increased variation in all the series optimal. With regard to the investment function in particular, its linearity under the quadratic approximate regime contrasts with its concavity under the 'exact' formu- lation. For any given variation in output, greater variation in invest- ment will be observed under the linear decision rule.
We also note that the correlation of both consumption and hours with output declines slightly with the increased A, while wage (productivity) correlation with output increases very dramatically.
What to read after On Some Computational Aspects of Real Business Cycle Theory?
You can find similar books in the "Read Also" column, or choose other free books by Jean Pierre Danthine to read onlineMoreLess
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