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Article: Loglinear approximate solutions to real-business-cycle models: Some observations

TitleLoglinear approximate solutions to real-business-cycle models: Some observations
Authors
KeywordsLoglinear approximate solution
Real-business-cycle models
Issue Date2007
PublisherHeldref Publications. The Journal's web site is located at http://www.heldref.org/jecone.php
Citation
Journal Of Economic Education, 2007, v. 38 n. 2, p. 194-207 How to Cite?
AbstractFollowing the analytical approach suggested in Campbell, the authors consider a baseline real-business-cycle (RBC) model with endogenous labor supply. They observe that the coefficients in the loglinear approximation of the dynamic equations characterizing the equilibrium are related to the fundamental parameters in a relatively simple manner. These equations can be used to obtain the closed-form approximate solution with ease and to demonstrate the properties (uniqueness) of the solution with clarity. Furthermore, comparative static results can be confirmed analytically (by straightforward differentiation). Most of these conclusions can be generalized to more complicated RBC models. Copyright © 2007 Heldref Publications.
Persistent Identifierhttp://hdl.handle.net/10722/85615
ISSN
2015 Impact Factor: 0.507
2015 SCImago Journal Rankings: 1.449
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorLau, SHPen_HK
dc.contributor.authorNg, PHTen_HK
dc.date.accessioned2010-09-06T09:07:12Z-
dc.date.available2010-09-06T09:07:12Z-
dc.date.issued2007en_HK
dc.identifier.citationJournal Of Economic Education, 2007, v. 38 n. 2, p. 194-207en_HK
dc.identifier.issn0022-0485en_HK
dc.identifier.urihttp://hdl.handle.net/10722/85615-
dc.description.abstractFollowing the analytical approach suggested in Campbell, the authors consider a baseline real-business-cycle (RBC) model with endogenous labor supply. They observe that the coefficients in the loglinear approximation of the dynamic equations characterizing the equilibrium are related to the fundamental parameters in a relatively simple manner. These equations can be used to obtain the closed-form approximate solution with ease and to demonstrate the properties (uniqueness) of the solution with clarity. Furthermore, comparative static results can be confirmed analytically (by straightforward differentiation). Most of these conclusions can be generalized to more complicated RBC models. Copyright © 2007 Heldref Publications.en_HK
dc.languageengen_HK
dc.publisherHeldref Publications. The Journal's web site is located at http://www.heldref.org/jecone.phpen_HK
dc.relation.ispartofJournal of Economic Educationen_HK
dc.rightsThe Journal of Economic Education. Copyright © Heldref Publications.en_HK
dc.subjectLoglinear approximate solutionen_HK
dc.subjectReal-business-cycle modelsen_HK
dc.titleLoglinear approximate solutions to real-business-cycle models: Some observationsen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0022-0485&volume=38 &issue=No 2&spage=194&epage=207&date=2007&atitle=Loglinear+approximate+solutions+to+real-business-cycle+models:+Some+observationsen_HK
dc.identifier.emailLau, SHP: laushp@hkucc.hku.hken_HK
dc.identifier.authorityLau, SHP=rp01073en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.3200/JECE.38.2.194-207en_HK
dc.identifier.scopuseid_2-s2.0-34547341094en_HK
dc.identifier.hkuros133467en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-34547341094&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume38en_HK
dc.identifier.issue2en_HK
dc.identifier.spage194en_HK
dc.identifier.epage207en_HK
dc.identifier.isiWOS:000247326400007-
dc.publisher.placeUnited Statesen_HK
dc.identifier.scopusauthoridLau, SHP=7401596159en_HK
dc.identifier.scopusauthoridNg, PHT=17435147600en_HK

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