| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP5639
|
| DP5639 Decentralization and the Productive Efficiency of Government: Evidence from Swiss Cantons |
| Ben Lockwood; Iwan Barankay
|
| 发表日期 | 2006-04-28
|
| 出版年 | 2006
|
| 语种 | 英语
|
| 摘要 | We analyse some practical aspects of implementing adaptive learning in the context of forward-looking linear models. In particular, we focus on how to set initial conditions for three popular algorithms, namely recursive least squares, stochastic gradient and constant gain learning. We propose three ways of initializing, one that uses randomly generated data, a second that is ad-hoc and a third that uses an appropriate distribution. We illustrate, via standard examples, that the behaviour and evolution of macroeconomic variables not only depend on the learning algorithm, but on the initial conditions as well. Furthermore, we provide a computing toolbox for analysing the quantitative properties of dynamic stochastic macroeconomic models under adaptive learning. |
| 主题 | International Macroeconomics
|
| 关键词 | Adaptive learning
Least square estimations
Computational methods
Short-run dynamics
|
| URL | https://cepr.org/publications/dp5639
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534503
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推荐引用方式
GB/T 7714 |
Ben Lockwood,Iwan Barankay. DP5639 Decentralization and the Productive Efficiency of Government: Evidence from Swiss Cantons. 2006.
|
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