The RBC Models through Statistical Inference: An Application with French Data
Abstract
The aim of this paper is to evaluate the capacity of RBC models to mimic the French business cycle. We are thus led to investigate the three following assumptions on the labour market: (1) the non-time separability of leisure, (2) the indivisibility of labour and (3) the imperfect information on labour market and time-varying effort. Using the General Method of Moments, we estimate the structural parameters and we test (1) the model's hypothesis using a set of overidentifying restrictions and (2) the model's implications, i.e. its ability to reproduce the cyclical features of the French economy. Copyright 1994 by John Wiley & Sons, Ltd.Download Info
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Bibliographic Info
Article provided by John Wiley & Sons, Ltd. in its journal Journal of Applied Econometrics.
Volume (Year): 9 (1994)
Issue (Month): S (Suppl. December)
Pages: S11-35
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Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
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"Gift exchange and the business cycle: the fair wage strikes back,"
Discussion Papers (IRES - Institut de Recherches Economiques et Sociales)
1997008, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES), revised 00 Apr 1997.
- Fabrice Collard & David de la Croix, 2000. "Gift Exchange and the Business Cycle: The Fair Wage Strikes Back," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 3(1), pages 166-193, January.
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"Labor market dynamics when effort depends on wage growth comparisons,"
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016, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization.
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- de la Croix, David & Palm, Franz & Urbain, Jean-Pierre, 1996. "Labor market dynamics when effort depends on wage growth comparisons," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 1996019, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES), revised 00 Sep 1996.
- Croix, David de la & Palm, Franz & Urbain, Jean-Pierre, 2000. "Labor market dynamics when effort depends on wage growth comparisons," Open Access publications from Maastricht University urn:nbn:nl:ui:27-5776, Maastricht University.
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0227, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales.
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- Paccagnini, Alessia, 2010. "DSGE Model Validation in a Bayesian Framework: an Assessment," MPRA Paper 24509, University Library of Munich, Germany.
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"Testing a Model of the UK by the Method of Indirect Inference,"
CEPR Discussion Papers
6849, C.E.P.R. Discussion Papers.
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- Minford, Patrick & Theodoridis, Konstantinos & Meenagh, David, 2007. "Testing a model of the UK by the method of indirect inference," Cardiff Economics Working Papers E2007/2, Cardiff University, Cardiff Business School, Economics Section, revised Apr 2008.
- Fabio Canova & Eva Ortega, 1996. "Testing calibrated general equilibrium models," Economics Working Papers 166, Department of Economics and Business, Universitat Pompeu Fabra.
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"Statistical Inference For Computable General Equilibrium Models, With Application To A Model Of The Moroccan Economy,"
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MIT Press, vol. 80(4), pages 520-534, November.
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