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The macroeconomic impacts of a foot-and-mouth disease outbreak: an information paper for Department of the Prime Minister and Cabinet

Black, Melleny; Gereben, Áron; Woolford, Ian - EconWPA - 2004

This memorandum provides a scenario analysis of the likely macroeconomic impacts of a limited foot-and-mouth disease (FMD) outbreak in New Zealand. It is worth stressing at the outset that it is not a forecast, nor a ‘central’ scenario, but an exercise to gauge broad magnitudes and to trace...

Persistent link: https://www.econbiz.de/10005556174

STOCHASTIC VOLATILITY: LIKELIHOOD INFERENCE AND COMPARISON WITH ARCH MODELS

Kim, Sangjoon; Shephard, Neil; Chib, Siddhartha - EconWPA - 1996

. This approach is compared with several alternative methods using real data. The paper also develops simulation- based …

Persistent link: https://www.econbiz.de/10005556396

Inflation Targeting: to Forecast or to Simulate

Skorepa, Michal; Kotlan, Viktor - EconWPA - 2003

two basic ways of assessing future inflation: forecast and simulation. A forecast is the most likely picture of the future …. In a forecast, all agents are assumed to behave in the most likely way. A simulation, on the other hand, is the most … differentiating between a forecast and a simulation, we discuss the pros and cons of using the two ways of assessing future inflation …

Persistent link: https://www.econbiz.de/10005561292

A "One-line" Simulator for Maxima or Minima on Drifting Brownian Paths

Abrahamson, Allen - EconWPA - 2002

A simple transform of a standard uniform variate is given for simulation of the maximum attained by a Wiener process …

Persistent link: https://www.econbiz.de/10005561500

Innovazione tecnologica e offerta di skills:una simulazione

Scarlato, M.; Cenci, M. - EconWPA - 2004

In this paper a dynamic stochastic model is used to simulate the matching process between skills demand and supply in a segmented labor market of a typical developing area where labor market frictions are pervasive. We address the issue of the emergence of a “bad” outcome i.e. equilibrium...

Persistent link: https://www.econbiz.de/10005561504

Evolutionary models’ comparative analysis. Methodology proposition based on selected neo-schumpeterian models of industrial dynamics

Kwasnicki, Witold - EconWPA - 2002

A methodology of comparative analysis of evolutionary models is proposed. The main aim of this proposition is to identify to what extend different models can be called ‘evolutionary ones’. Each model is analysed by searching for answers to following questions:  Is the model dynamical one?...

Persistent link: https://www.econbiz.de/10005561798

The Promises and Perils of Agent-Based Computational Economics

Richiardi, Matteo - EconWPA - 2004

critiques against the use of simulation, which point to the following problematic areas: (i) interpretation of the simulation … dynamics, (ii) estimation of the simulation model, and (iii) generalisation of the results. I show that there exist solutions …

Persistent link: https://www.econbiz.de/10005125044

A Laboratory Experiment of Knowledge Diffusion Dynamics

Morone, Piergiuseppe; Taylor, Richard - EconWPA - 2004

This paper aims to study, by means of a laboratory experiment and a simulation model, some of the mechanisms which …

Persistent link: https://www.econbiz.de/10005125585

A Toolkit for Optimizing Functions in Economics

Goffe, William L. - EconWPA - 1997

Optimization algorithms must be among the most common numerical methods used by economists. Yet, there is surprisingly little guidance on choosing the appropriate one. This problem is most notable with regard to conventional versus global optimizers. Typically, a global optimizer is used when a...

Persistent link: https://www.econbiz.de/10005134567

Long Memory Options: LM Evidence and Simulations

Jamdee, Sutthisit; Los, Cornelis A. - EconWPA - 2005

valuation by simple simulation. Many empirical researchers have observed the non-Fickian degrees of persistence or long memory …

Persistent link: https://www.econbiz.de/10005134830