The Fiscal Responsibility Act 1994 states that, as a principle of responsible fiscal management, a New Zealand government should ensure total Crown debt is at a prudent level by ensuring total operating expenses do not exceed total operating revenues. In this paper a structural VAR model is...

The solutions of a macroeconometricmodel with expectations of future-dated variables has to be approximated by numerical simulations. A brief review of deterministic and stochastic dynamic simulations of a backward-looking model is followed by a conceptual presentation of methods for dynamic...

The Fiscal Responsibility Act 1994 states that, as a principle of responsible fiscal management, a New Zealand government should ensure total Crown debt is at a prudent level by ensuring total operating expenses do not exceed total operating revenues. In this paper a structural VAR model is...

A Galerkin finite element approximation of Wick-stochastic water waves is developed and numerically investigated. The problems under study consist of a class of shallow water equations driven by white noise. Random effects may appear in the water free surface or in the bottom topography among...

Droughts are regional incidents that threat the environment and limit most of the socio-economic activities. Given the dry and wet state sequences for two sites, <InlineEquation ID="IEq1"> <EquationSource Format="TEX">$X_t^{\left( 1 \right)} $</EquationSource> </InlineEquation> and <InlineEquation ID="IEq2"> <EquationSource Format="TEX">$X_t^{\left( 2 \right)} $</EquationSource> </InlineEquation>, this paper presents a procedure to reduce the two sequences <InlineEquation ID="IEq3"> <EquationSource Format="TEX">$X_t^{\left(...</equationsource></inlineequation></equationsource></inlineequation></equationsource></inlineequation>