Non-Linearities and Dynamics in a Neoclassical Model of Investment
AbstractIn this paper, we investigate the magnitude of errors that come about as a consequence of using a linear approximation to a well-known optimising model. We do this by taking a calibrated version of the neoclassical adjustment-cost model of investment due to Hayashi (1982).
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Bibliographic InfoPaper provided by The University of Melbourne in its series Department of Economics - Working Papers Series with number 671.
Length: 7 pages
Date of creation: 1998
Date of revision:
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Postal: Department of Economics, The University of Melbourne, 5th Floor, Economics and Commerce Building, Victoria, 3010, Australia
Phone: +61 3 8344 5289
Fax: +61 3 8344 6899
Web page: http://www.economics.unimelb.edu.au
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ECONOMICS ; MACROECONOMICS ; LINEAR MODELS;
Find related papers by JEL classification:
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
- E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
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