| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5326 |
| DP5326 The Knowledge Spillover Theory of Entrepreneurship | |
| David Audretsch; Pontus Braunerhjelm; Zoltán J Acs; Bo Carlsson | |
| 发表日期 | 2005-10-31 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | New-Keynesian models are characterized by the presence of expectations as explanatory variables. To use these models for policy evaluation, the econometrician must estimate the parameters of expectation terms. Standard estimation methods have several drawbacks, including possible lack of identification of the parameters, misspecification of the model due to omitted variables or parameter instability, and the common use of inefficient estimation methods. Several authors have raised concerns over the validity of commonly used instruments to achieve identification. In this paper we analyse the practical relevance of these problems and we propose remedies to weak identification based on recent developments in factor analysis for information extraction from large data sets. Using these techniques, we evaluate the robustness of recent findings on the importance of forward looking components in the equations of the New-Keynesian model. |
| 主题 | International Macroeconomics |
| 关键词 | New-keynesian phillips curve Forward-looking output equation Taylor rule Rational expectations Factor analysis Determinacy of equilibrium |
| URL | https://cepr.org/publications/dp5326 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534190 |
| 推荐引用方式 GB/T 7714 | David Audretsch,Pontus Braunerhjelm,Zoltán J Acs,et al. DP5326 The Knowledge Spillover Theory of Entrepreneurship. 2005. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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