Numerical Analysis of Chinese Economy in an Small Scale RBC Model: 1996-2005
This paper uses a version of Hansen's (1985) real business cycle (RBC) model to mimic Chinese business cycle from 1996 to 2005. The comparison of simulation results and actual data implies that the model can reflect economic fluctuations. Quantitative analysis demonstrates that technology shock...
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| Published in | 2009 International Conference on Advanced Computer Control pp. 306 - 309 |
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| Main Authors | , |
| Format | Conference Proceeding |
| Language | English |
| Published |
IEEE
01.01.2009
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| Subjects | |
| Online Access | Get full text |
| ISBN | 9781424433308 076953516X 9780769535166 1424433304 |
| DOI | 10.1109/ICACC.2009.137 |
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| Abstract | This paper uses a version of Hansen's (1985) real business cycle (RBC) model to mimic Chinese business cycle from 1996 to 2005. The comparison of simulation results and actual data implies that the model can reflect economic fluctuations. Quantitative analysis demonstrates that technology shock contributes to more than 90.3% of Chinese economic fluctuations, and RBC model is an ideal framework for Chinese economy policy analysis. The paper also suggests to incorporate a wider set of state variable, such as monetary, fiscal, and oil price shocks to improve the performance of the model. |
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| AbstractList | This paper uses a version of Hansen's (1985) real business cycle (RBC) model to mimic Chinese business cycle from 1996 to 2005. The comparison of simulation results and actual data implies that the model can reflect economic fluctuations. Quantitative analysis demonstrates that technology shock contributes to more than 90.3% of Chinese economic fluctuations, and RBC model is an ideal framework for Chinese economy policy analysis. The paper also suggests to incorporate a wider set of state variable, such as monetary, fiscal, and oil price shocks to improve the performance of the model. |
| Author | Yang Liu Li Li |
| Author_xml | – sequence: 1 surname: Li Li fullname: Li Li organization: Dept. of Bus., Hu Bei Univ., Wuhan – sequence: 2 surname: Yang Liu fullname: Yang Liu organization: Dept. of Int. Trade, HuaZhong Normal Univ., Wuhan |
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| Snippet | This paper uses a version of Hansen's (1985) real business cycle (RBC) model to mimic Chinese business cycle from 1996 to 2005. The comparison of simulation... |
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| StartPage | 306 |
| SubjectTerms | Economic Fluctuations Educational institutions Electric shock Fluctuations International trade Labor resources Macroeconomics Microeconomics Numerical analysis Petroleum Power generation economics Real Business Cycle Model Technology Shock |
| Title | Numerical Analysis of Chinese Economy in an Small Scale RBC Model: 1996-2005 |
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