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Non-Linearities and Dynamics in a Neoclassical Model of Investment

Author

Listed:
  • Herbert, R.D.
  • Stemp, P.J.

Abstract

In 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).

Suggested Citation

  • Herbert, R.D. & Stemp, P.J., 1998. "Non-Linearities and Dynamics in a Neoclassical Model of Investment," Department of Economics - Working Papers Series 671, The University of Melbourne.
  • Handle: RePEc:mlb:wpaper:671
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    More about this item

    Keywords

    ECONOMICS ; MACROECONOMICS ; LINEAR MODELS;

    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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