| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6100 |
| DP6100 The Political Origin of Pension Funding | |
| Enrico Perotti; Armin Schwienbacher | |
| 发表日期 | 2007-02-14 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | Using a Bayesian likelihood approach, we estimate a dynamic stochastic general equilibrium model for the US economy using seven macro-economic time series. The model incorporates many types of real and nominal frictions and seven types of structural shocks. We show that this model is able to compete with Bayesian Vector Autoregression models in out-of-sample prediction. We investigate the relative empirical importance of the various frictions. Finally, using the estimated model we address a number of key issues in business cycle analysis: What are the sources of business cycle fluctuations? Can the model explain the cross-correlation between output and inflation? What are the effects of productivity on hours worked? What are the sources of the ?Great Moderation?? |
| 主题 | International Macroeconomics |
| 关键词 | Business cycle Dsge models monetary policy |
| URL | https://cepr.org/publications/dp6100 |
| 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/534939 |
| 推荐引用方式 GB/T 7714 | Enrico Perotti,Armin Schwienbacher. DP6100 The Political Origin of Pension Funding. 2007. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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