| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7036 |
| DP7036 A Measure for Credibility: Tracking US Monetary Developments | |
| Maria Demertzis; Nicola Viegi; Massimiliano Marcellino | |
| 发表日期 | 2008-11-10 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | This paper compares numerical solutions to the model of Krusell and Smith (1998) generated by different numerical algorithms. The algorithms have very similar implications for the correlations between different variables. Larger differences are observed for (i) the unconditional means and standard deviations of individual variables, (ii) the behavior of individual agents during particularly bad times, (iii) the volatility of the per capita capital stock, and (iv) the behavior of the higher-order moments of the cross-sectional distribution. For example, the two algorithms that differ the most from each other generate individual consumption series that have an average (maximum) difference of 1.6% (11.4%). Several outcomes of this comparison project should be useful in using these and other algorithms in future work. |
| 主题 | International Macroeconomics |
| 关键词 | Approximations Numerical solutions |
| URL | https://cepr.org/publications/dp7036 |
| 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/535873 |
| 推荐引用方式 GB/T 7714 | Maria Demertzis,Nicola Viegi,Massimiliano Marcellino. DP7036 A Measure for Credibility: Tracking US Monetary Developments. 2008. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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