Quantitative Business Cycle Analytics

对宏观经济学来说，没有什么比试图 了解商业周期。 其中很大一部分 近年来，宏观经济研究一直致力于 探讨所有家庭和 企业理性地形成对未来的预期， 追求明确的目标，并比较这些目标 对观察到的商业周期事实的影响。 的 本项目的贡献来自于开发和研究 商业周期分析模型， 定性和定量地与观察到的事实， 商业周期。 更具体地说，该项目扩展并分析解决了 一套基于爱德华教授的商业周期模型 普雷斯科特的真实的经济周期模型。 以下元素 在这个模型中增加了：扭曲性税收，不止一个 生产部门、政府组成的变化 消费，不止一种类型的劳动，时间的不可分割性， 公用事业，价格调整缓慢。 这些元素 抓住其他国家所缺少的经济现实的重要方面 商业周期模型。

Nothing is more central to macroeconomics than the attempt to understand business cycles. A large fraction of all macroeconomic research in recent years has been devoted to exploring the implications of models in which all households and firms form expectations about the future rationally and act in the pursuit of well-defined objectives, and comparing these implications to observed facts about business cycles. The contribution of this project comes from developing and studying analytically business cycle models that are more consistent qualitatively and quantitatively with observed facts about business cycles. More specifically, the project extends and solves analytically a central set of business cycle models based on Professor Edward Prescott's Real Business Cycle Model. The following elements are added to this model: distortionary taxation, more than one production sector, changes in the composition of government spending, more than one type of labor, time-nonseparabilities in the utility, and sluggish price adjustment. These elements capture important aspects of economic reality missing in other models of business cycles.