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dc.contributor.authorRestrepo Ochoa, Sergio I.
dc.contributor.authorVázquez Pérez, Jesús ORCID
dc.date.accessioned2012-02-06T18:05:39Z
dc.date.available2012-02-06T18:05:39Z
dc.date.issued2002-07
dc.identifier.issn1988-088X
dc.identifier.urihttp://hdl.handle.net/10810/6767
dc.description.abstractThis 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.sponsorshipFinancial 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.isoenges
dc.publisherUniversity of the Basque Country, Department of Foundations of Economic Analysis IIes
dc.relationinfo:eu-repo/grantAgreement/MCYT/BEC2000-1393
dc.relationinfo:eu-repo/grantAgreement/MCYT/PI-1999-131
dc.relation.ispartofseriesDFAEII 2002.30
dc.rightsinfo:eu-repo/semantics/openAccesses
dc.rights.urihttp://creativecommons.org/licenses/by-nc-sa/3.0/*
dc.subjectendogenous growthes
dc.subjectdecomposition methodses
dc.subjectcyclical featureses
dc.titleCyclical Features of Uzawa-Lucas Endogenous Growth Modeles
dc.typeinfo:eu-repo/semantics/workingPaperes
dc.rights.holderAttribution-NonCommercial-ShareAlike 3.0 Unported*
dc.identifier.repecRePEc:ehu:dfaeii:200230es
dc.departamentoesFundamentos del análisis económico IIes_ES
dc.departamentoeuEkonomia analisiaren oinarriak IIes_ES
dc.subject.categoriaECONOMICS, ECONOMETRICS AND FINANCE


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Attribution-NonCommercial-ShareAlike 3.0 Unported
Except where otherwise noted, this item's license is described as Attribution-NonCommercial-ShareAlike 3.0 Unported