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A Simple RBC Model with Money and Income Taxes

Economic Analysis Review

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Title A Simple RBC Model with Money and Income Taxes
A Simple RBC Model with Money and Income Taxes
 
Creator Johnson, Christian
 
Description The empirical Real Business Cycle models started with the pioneer work of Kydland and Prescott (1982). Since then, many work has been done using their approach. This paper is based in this standard real business cycle model to simulate an economy which include stochastic monetary growth (monetary policy) and income taxes (fiscal policy). The results of the simulations are compared with the actual data using the classical metric of standard errors and correlations and. also, with a VAR estimation. The impulse responses of the model with both policies are compared with the corresponding for the data.
The empirical Real Business Cycle models started with the pioneer work of Kydland and Prescott (1982). Since then, many work has been done using their approach. This paper is based in this standard real business cycle model to simulate an economy which include stochastic monetary growth (monetary policy) and income taxes (fiscal policy). The results of the simulations are compared with the actual data using the classical metric of standard errors and correlations and. also, with a VAR estimation. The impulse responses of the model with both policies are compared with the corresponding for the data.
 
Publisher Universidad Alberto Hurtado - Facultad de Economía y Negocios
 
Contributor —
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Date 2010-03-09
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
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Format application/pdf
 
Identifier http://www.rae-ear.org/index.php/rae/article/view/197
 
Source Revista de Análisis Económico - Economic Analysis Review; Vol 9, No 2 (1994); 39-68
Revista de Análisis Económico – Economic Analysis Review; Vol 9, No 2 (1994); 39-68
0718-8870
0716-5927
 
Language eng
 
Relation http://www.rae-ear.org/index.php/rae/article/view/197/359