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Cycle Models (cycle + models)

Distribution by Scientific Domains
Business, Economics, Finance and Accounting71%

Kinds of Cycle Models

  • business cycle models
    		•

    Selected Abstracts

    Inspecting The Mechanism: Closed-Form Solutions For Asset Prices In Real Business Cycle Models*

    THE ECONOMIC JOURNAL, Issue 489 2003
    Martin Lettau
    We derive closed-form solutions for asset prices in an RBC economy. The equations are based on a log-linear solution of the RBC model and allow a clearer understanding of the determination of risk premia in models with production. We demonstrate not only why the premium of equity over the risk-free rate is small but also why the premium of equity over a real long-term bond is small and often negative. In particular, risk premia for equity and long real bonds are negative when technology shocks are permanent. [source]

    On expectations-driven business cycles in economies with production externalities

    INTERNATIONAL JOURNAL OF ECONOMIC THEORY, Issue 1 2009
    Stefano Eusepi
    C62; E32 Expectations-driven business cycles are defined as positive co-movement between consumption, investment and hours that result from a change in expectations, holding constant technology, preferences and government intervention. This note explores the possibility of expectations-driven business cycles in business cycle models with external effects. It is found that in one-sector models conditions for expectations-driven business cycles and conditions for multiple equilibria are tightly connected. In two-sector models those conditions appear to be mutually exclusive. [source]

    Persistence of business cycles in multisector real business cycle models

    INTERNATIONAL JOURNAL OF ECONOMIC THEORY, Issue 3-4 2006
    Jess Benhabib
    E00; E3; O40 In this paper we explore whether the changing composition of output in response to technology shocks can play a significant role in the propagation of shocks over time. For this purpose we study two multisector real business cycle models, with two and three sectors. We find that, although the two-sector model requires a high intertemporal elasticity of substitution of consumption to match the various dynamic properties of US macroeconomic data, the three-sector model has a strong propagation mechanism under conventional parameterizations, as long as the factor intensities in the three sectors are different enough. [source]

    Partial life cycle analysis: a model for pre-breeding census data

    OIKOS, Issue 3 2001
    Madan K. Oli
    Matrix population models have become popular tools in research areas as diverse as population dynamics, life history theory, wildlife management, and conservation biology. Two classes of matrix models are commonly used for demographic analysis of age-structured populations: age-structured (Leslie) matrix models, which require age-specific demographic data, and partial life cycle models, which can be parameterized with partial demographic data. Partial life cycle models are easier to parameterize because data needed to estimate parameters for these models are collected much more easily than those needed to estimate age-specific demographic parameters. Partial life cycle models also allow evaluation of the sensitivity of population growth rate to changes in ages at first and last reproduction, which cannot be done with age-structured models. Timing of censuses relative to the birth-pulse is an important consideration in discrete-time population models but most existing partial life cycle models do not address this issue, nor do they allow fractional values of variables such as ages at first and last reproduction. Here, we fully develop a partial life cycle model appropriate for situations in which demographic data are collected immediately before the birth-pulse (pre-breeding census). Our pre-breeding census partial life cycle model can be fully parameterized with five variables (age at maturity, age at last reproduction, juvenile survival rate, adult survival rate, and fertility), and it has some important applications even when age-specific demographic data are available (e.g., perturbation analysis involving ages at first and last reproduction). We have extended the model to allow non-integer values of ages at first and last reproduction, derived formulae for sensitivity analyses, and presented methods for estimating parameters for our pre-breeding census partial life cycle model. We applied the age-structured Leslie matrix model and our pre-breeding census partial life cycle model to demographic data for several species of mammals. Our results suggest that dynamical properties of the age-structured model are generally retained in our partial life cycle model, and that our pre-breeding census partial life cycle model is an excellent proxy for the age-structured Leslie matrix model. [source]

    Geochemical Cycles of Bio-essential Elements on the Early Earth and Their Relationships to Origin of Life

    RESOURCE GEOLOGY, Issue 2 2002
    Takeshi KAKEGAWA
    Abstract: The bio-essential elements are demanded for the metabolic action of all living organisms. These elements are continuously supplied to biosphere through the elemental cycle on the surface Earth. The geochemical cycle of bio-essential elements was most likely different in the pre-biotic era (ca. 4.4 to 4.0 Ga) compared to the modern Earth. The difference was probably made by the absence of continents and biological mediation in the pre-biotic environments. Geochemical cycle models of bio-essential elements (P, B and Mo) on the pre-biotic Earth are proposed in this study, and these models are examined using available geochemical data. The input flux of phosphorous in pre-biotic oceans was probably dominated by submarine hydrothermal activities associated with carbonatized oceanic crusts. Such input flux by submarine hydrothermal activities is not known in the present-day oceans, and probably a unique flux in the pre-biotic oceans. Boron chemistry of pre-biotic oceans was also controlled by submarine hydrothermal input flux. The Mo exchange between the pre-biotic ocean and lithosphere may have restricted only at the submarine hydrothermal areas. These suggest that the submarine hydrothermal discharging areas were only locations to obtain bio-essential elements for the earliest life. This model is consistent with the previously proposed model for hydrothermal origin of life. [source]

    Exact formulas for the Hodrick-Prescott filter

    THE ECONOMETRICS JOURNAL, Issue 1 2008
    Tucker McElroy
    Summary, The Hodrick,Prescott (HP) filter is widely used in the field of economics to estimate trends and cycles from time series data. For certain applications,such as deriving implied trend and cycle models and obtaining filter weights,it is desirable to express the frequency response of the HP as the spectral density of an ARMA model; in other words, to accomplish the spectral factorization of the HP filter. This paper presents an exact approach to this problem, which makes it possible to provide exact algebraic formulas for the HP filter coefficients in terms of the HP's signal-to-noise ratio. [source]