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Vázquez, Jesús; Padilla, Amaia Iza; Barañano, Ilaski

doi:10.1007/s101080200039

Cited by 4 publications

(3 citation statements)

References 29 publications

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“…PEA approximates the household's conditional expectations with a parametric function that includes an interaction component, which captures the concavity of the household's Euler equation. According to Barañano et al (2002), this approach reproduces the effect of the utility function's curvature more accurately than a log linear approach. We can also determine {λ N R t+1 , R N R t+1 } by solving for the household's expectations conditional on the normal growth scenario.…”

Section: C1 Solution Approachmentioning

confidence: 99%

Ambiguous Business Cycles, Recessions and Uncertainty: A Quantitative Analysis

Piccillo,

Poonpakdee

2023

SSRN Journal

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Section: C1 Solution Approachmentioning

confidence: 99%

Ambiguous Business Cycles, Recessions and Uncertainty: A Quantitative Analysis

Piccillo,

Poonpakdee

2023

SSRN Journal

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“…This function includes an interaction component, which captures the concavity of the household's Euler equation. According to Bara ñano et al (2002), this approach reproduces the effect of the utility function's curvature more accurately than a log linear approach. We can also determine {λ N R t+1 , R N R t+1 } by solving for the household's expectations conditional on the normal growth scenario.…”

Section: Good Market Clearingmentioning

confidence: 99%

“…NL EPU would be more suitable for the Dutch dataset, however it began in 2003. As the period 2003-2007 was excluded due to inconsistencies in the questionnaire, the regression with NL EPU covers only 2008-2018 whereas the regression withEU EPU covers 1997- 2002and 2008 …”

mentioning

confidence: 99%

Making sense of uncertainty in macroeconomic model

Poonpakdee

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Cyclical features of the Uzawa–Lucas endogenous growth model

Restrepo-Ochoa

Vázquez

2004

Economic Modelling

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This paper analyzes the cyclical properties of a generalized version of Uzawa-Lucas endogenous growth model. We study the dynamic features of different cyclical components of this model characterized by a variety of decomposition methods. The decomposition methods considered can be classified in two groups. On the one hand, we consider three statistical filters: the Hodrick-Prescott filter, the Baxter-King filter and GonzaloGranger decomposition. On the other hand, we use four model-based decomposition methods. The latter decomposition procedures share the property that the cyclical components obtained by these methods preserve the log-linear approximation of the Euler-equation restrictions imposed by the agent's intertemporal optimization problem. The paper shows that both model dynamics and model performance substantially vary across decomposition methods. A parallel exercise is carried out with a standard real business cycle model. The results should help researchers to better understand the performance of Uzawa-Lucas model in relation to standard business cycle models under alternative definitions of the business cycle.

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Untitled

Cited by 4 publications

References 29 publications

Ambiguous Business Cycles, Recessions and Uncertainty: A Quantitative Analysis

Ambiguous Business Cycles, Recessions and Uncertainty: A Quantitative Analysis

Making sense of uncertainty in macroeconomic model

Cyclical features of the Uzawa–Lucas endogenous growth model

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