Showing 1 - 10 of 37
This paper examines how and to what extent parameter estimates can be biased in a dynamic stochastic general equilibrium (DSGE) model that omits the zero lower bound constraint on the nominal interest rate. Our experiments show that most of the parameter estimates in a standard sticky-price DSGE...
Persistent link: https://www.econbiz.de/10010711555
We develop tests for structural breaks of factor loadings in dynamic factor models. We focus on the joint null hypothesis that all factor loadings are constant over time. Because the number of factor loading parameters goes to infinity as the sample size grows, conventional tests cannot be used....
Persistent link: https://www.econbiz.de/10010711556
This study aims to determine the nature of entrepreneur behavior, business creation, and transformation of software companies in Dalian City through case studies. Four companies that were launched in the 2000s were studied. These companies' businesses initially involved labor-intensive processes...
Persistent link: https://www.econbiz.de/10011220567
Using a closed-economy overlapping generations model with en- dogenous fertility, child quality choice and human capital accumula- tion, this paper examine the effects of public investment in education on fertility rate and per capita output growth rate under a pay-as-you- go (PAYG) social...
Persistent link: https://www.econbiz.de/10010775085
Persistent link: https://www.econbiz.de/10010875722
Persistent link: https://www.econbiz.de/10010875723
This paper develops a model of North-South trade and economic development to analyze how an increase in the growth rate of population affects the growth rate of real income per capita. We assume that the North is characterized by an increasing-returns-to-scale technology while the South is...
Persistent link: https://www.econbiz.de/10010875724
The dynamic Nelson-Siegel (DNS) model and even the Svensson generalization of the model have trouble in fitting the short maturity yields and fail to grasp the characteristics of the Japanese government bonds (JGBs) yield curve, which is flat at the short end and have multiple inflection points....
Persistent link: https://www.econbiz.de/10010741796
This paper aims to provide a wavelet analysis for spatio-temporal data which are observed on irregularly spaced stations at discrete time points, where the spatial covariances show serious non-stationarity caused by local dependency. A specific example that is used for the demonstration is US...
Persistent link: https://www.econbiz.de/10010741797
The purpose of this paper is to examine the critical arguments made by Burmeister, Samuelson, and others, with respect to Sraffa (1960). Sraffa did not address these arguments, but they are relevant from the viewpoint of modern economic theories. In his arguments about the standard commodity,...
Persistent link: https://www.econbiz.de/10010741798