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General Equilibrium Macroeconomic Models and Superior Information



We present and assess a procedure to evaluate dynamic, stochastic, general equilibrium macroeconomic models when agents in the economy use an information set superior to that used by researchers. Cette étude présente et documente une procédure d'évaluation de modèles macroéconomiques stochastiques d'équilibre général dynamique où les agents économiques possèdent un ensemble d'information supérieur à celui utilisé par les chercheurs.

Suggested Citation

  • Martin Boileau & Michel Normandin, 2000. "General Equilibrium Macroeconomic Models and Superior Information," Cahiers de recherche CREFE / CREFE Working Papers 114, CREFE, Université du Québec à Montréal.
  • Handle: RePEc:cre:crefwp:114

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    References listed on IDEAS

    1. John Campbell & Angus Deaton, 1989. "Why is Consumption So Smooth?," Review of Economic Studies, Oxford University Press, vol. 56(3), pages 357-373.
    2. King, Robert G. & Plosser, Charles I. & Rebelo, Sergio T., 1988. "Production, growth and business cycles : I. The basic neoclassical model," Journal of Monetary Economics, Elsevier, vol. 21(2-3), pages 195-232.
    3. Campbell, John Y & Shiller, Robert J, 1987. "Cointegration and Tests of Present Value Models," Journal of Political Economy, University of Chicago Press, vol. 95(5), pages 1062-1088, October.
    4. Lucas, Robert E, Jr, 1978. "Asset Prices in an Exchange Economy," Econometrica, Econometric Society, vol. 46(6), pages 1429-1445, November.
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    Real business cycles;

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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