dc.contributor.author | Restrepo Ochoa, Sergio I. | |
dc.contributor.author | Vázquez Pérez, Jesús | |
dc.date.accessioned | 2012-02-06T18:05:39Z | |
dc.date.available | 2012-02-06T18:05:39Z | |
dc.date.issued | 2002-07 | |
dc.identifier.issn | 1988-088X | |
dc.identifier.uri | http://hdl.handle.net/10810/6767 | |
dc.description.abstract | 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 Gonzalo-Granger 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. | es |
dc.description.sponsorship | Financial support from Ministerio de Ciencia y Tecnología, Gobierno Vasco and Universidad del País Vasco (Spain) through projects BEC2000-1393, PI-1999-131 and 9/UPV00035.321-13511/2001, respectively, is gratefully
acknowledged. | es |
dc.language.iso | eng | es |
dc.publisher | University of the Basque Country, Department of Foundations of Economic Analysis II | es |
dc.relation | info:eu-repo/grantAgreement/MCYT/BEC2000-1393 | |
dc.relation | info:eu-repo/grantAgreement/MCYT/PI-1999-131 | |
dc.relation.ispartofseries | DFAEII 2002.30 | |
dc.rights | info:eu-repo/semantics/openAccess | es |
dc.rights.uri | http://creativecommons.org/licenses/by-nc-sa/3.0/ | * |
dc.subject | endogenous growth | es |
dc.subject | decomposition methods | es |
dc.subject | cyclical features | es |
dc.title | Cyclical Features of Uzawa-Lucas Endogenous Growth Model | es |
dc.type | info:eu-repo/semantics/workingPaper | es |
dc.rights.holder | Attribution-NonCommercial-ShareAlike 3.0 Unported | * |
dc.identifier.repec | RePEc:ehu:dfaeii:200230 | es |
dc.departamentoes | Fundamentos del análisis económico II | es_ES |
dc.departamentoeu | Ekonomia analisiaren oinarriak II | es_ES |
dc.subject.categoria | ECONOMICS, ECONOMETRICS AND FINANCE | |