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Etalonnage et estimation d'un modèle de croissance cyclique dans le domaine des fréquences

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  • Fabrice Collard

Abstract

[fre] Cet article propose un modèle de cycle étendu à la croissance endogène, par un mécanisme d'accumulation de capital humain transitant par une activité d'amélioration de la productivité. La spécification particulière retenue permet d'obtenir une solution analytique au problème de croissance permettant de dériver les propriétés spectrales du taux de croissance du produit. Les paramètres structurels du modèle sont alors estimés dans le domaine des fréquences. Ceci permet de mettre en évidence qu'il existe une combinaison de paramètres structurels, pertinente du point de vue économique et statistiquement significative, permettant de rendre compte de la dynamique de l'économie américaine. [eng] Calibration and estimation of a cyclical growth model in the frequency domain. . . This article proposes an augmented business cycle model allowing for endogenous growth, through a human capital accumulation mechanism transiting through a productivity improving sector. The particular specification we use allows to obtain a closed-form solution. This permits to write the analytical spectrum and to study its properties. The deep parameters are then estimated using a frequency domain method. This shows that there exists a combination of parameters, relevant on an economic point of view and statistically significant, that can account for the features of the U.S. economy business cycle.

Suggested Citation

  • Fabrice Collard, 1997. "Etalonnage et estimation d'un modèle de croissance cyclique dans le domaine des fréquences," Revue Économique, Programme National Persée, vol. 48(3), pages 615-627.
  • Handle: RePEc:prs:reveco:reco_0035-2764_1997_num_48_3_409901
    Note: DOI:10.3406/reco.1997.409901
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    1. Cogley, Timothy & Nason, James M, 1995. "Output Dynamics in Real-Business-Cycle Models," American Economic Review, American Economic Association, vol. 85(3), pages 492-511, June.
    2. Eichenbaum, Martin, 1991. "Real business-cycle theory : Wisdom or whimsy?," Journal of Economic Dynamics and Control, Elsevier, vol. 15(4), pages 607-626, October.
    3. Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, vol. 50(6), pages 1345-1370, November.
    4. Christiano, Lawrence J & Eichenbaum, Martin, 1992. "Current Real-Business-Cycle Theories and Aggregate Labor-Market Fluctuations," American Economic Review, American Economic Association, vol. 82(3), pages 430-450, June.
    5. Long, John B, Jr & Plosser, Charles I, 1983. "Real Business Cycles," Journal of Political Economy, University of Chicago Press, vol. 91(1), pages 39-69, February.
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