Umfang:
Online-Ressource (42 p)
Ausgabe:
Online-Ausg.
ISBN:
145520949X
,
9781455209491
Serie:
IMF Working Papers Working Paper No. 10/249
Inhalt:
We develop a tractable way to solve for equilibrium quantities and asset prices in a class of real business cycle models featuring Epstein-Zin preferences and affine dynamics for productivity growth and volatility. The method relies on log-linearization and exploits the log-normality of all the quantities. It is an easy substitute for more involved numerical techniques, such as higher order perturbation methods, and allows for easy implementation and analytical results. We show explicitly the link with perturbation techniques and find that the quantitative difference between the two is insignificant for several models of interest
Weitere Ausg.:
Erscheint auch als Druck-Ausgabe Shamloo, Maral Asset Prices in Affine Real Business Cycle Models Washington, D.C. : International Monetary Fund, 2010 ISBN 9781455209491
Sprache:
Englisch
DOI:
10.5089/9781455209491.001
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