首页> 外文学位 >A COMPARATIVE STUDY OF THE EMPIRICAL IMPACT OF THE JOINT ESTIMATION APPROACH AND THE ALTERNATIVE SELECTION APPROACH FOR APPLICATION TO ECONOMETRIC MODELS WITH A PURE AUTOCORRELATION STRUCTURE: THE CASE OF THE GENERAL FECHNER-THURSTONE DIRECT UTILITY FUNCTION (MICROECONOMICS, ECONOMETRICS, MARGINAL UTILITY, COST LIVING INDEX, ECONOMIC POLICY).

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A COMPARATIVE STUDY OF THE EMPIRICAL IMPACT OF THE JOINT ESTIMATION APPROACH AND THE ALTERNATIVE SELECTION APPROACH FOR APPLICATION TO ECONOMETRIC MODELS WITH A PURE AUTOCORRELATION STRUCTURE: THE CASE OF THE GENERAL FECHNER-THURSTONE DIRECT UTILITY FUNCTION (MICROECONOMICS, ECONOMETRICS, MARGINAL UTILITY, COST LIVING INDEX, ECONOMIC POLICY).

机译：具有纯自相关结构的经济模型的联合估计方法和替代选择方法的实证影响的比较研究：通用费舍尔－瑟尔斯顿直接实用性函数（微观经济学，经济学，经济学，经济学，经济学，经济学，经济学，经济学和经济学），经济政策）。

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This dissertation is an empirical, comparative study of the impact of two different approaches, the joint estimation approach and the alternative selection approach, in dealing with econometric models of a typical autocorrelation structure in the context of the consumer variable preference theory under the General Fechner-Thurstone direct utility function. For both the first- and second-order processes, several widely-applied joint estimation methods have been chosen for study and comparison with the alternative selection method on the basis of two empirical models. The different approaches are evaluated from both a statistical and economic viewpoint for five commodity groups.;It is found that the specified maintained hypotheses from the two approaches can be significantly different. Further, it is concluded that the alternative selection approach is more favorable than the usual joint estimation approach in terms of the Durbin-Watson statistic, the adjusted multiple correlation coefficient, and the condition index. Noticeably different results are observed in the test of homogeneity properties of marginal rates of substitution and elasticity estimates based on the two approaches.

机译：这篇论文是对两种不同的方法（联合估计方法和替代选择方法）在消费者变量偏好理论下的一般自相关结构计量经济学模型的处理中的影响进行的经验比较研究。 Thurstone直接效用函数。对于一阶和二阶过程，已经基于两种经验模型选择了几种广泛应用的联合估计方法进行研究和与替代选择方法进行比较。从统计和经济角度对五个商品类别评估了不同的方法。发现，这两种方法所指定的维持假设可能存在显着差异。此外，可以得出结论，就Durbin-Watson统计量，调整后的多重相关系数和条件指数而言，替代选择方法比常规联合估计方法更有利。在基于两种方法的边际替代率和弹性估计的均一性测试中，观察到明显不同的结果。

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作者
LIEU, PANG-TIEN.;
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作者单位

Texas A&M University.;

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授予单位 Texas A&M University.;
学科 Economics General.
学位 Ph.D.
年度 1985
页码 197 p.
总页数 197
原文格式 PDF
正文语种 eng
中图分类
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1. We analyze, in this paper, a DSGE New Keynesian model with indi- visible labor where firms may belong to two different final goods producing sectors one where wages and employment are determined in competitive labor markets and the orther where wages and employment are the result of a contractual process between unions and firms. Bargaining between firms and monopoly unions implies real wage rigidity in the model and, in turn, an endogenous trade-off between output stabilization and infla- tion stabilization. We show that the negative effect of a productivity shock on inflation and the positive effect of a cost-push shock is crucially determined by the proportion of firms that belong to the competitive sec- tor. The larger is this number, the smaller are these effects. We derive a welfare based objective function as a second order Taylor approxima- tion of the expected utility of the economy's representative agent and we analyze optimal monetary policy. We show that the larger is the num- ber of firms that belong to the competitive sector, the smaller should be the response of the nominal interest rate to exogenous productivity and cost-push shocks. If we consider, however, an instrument rule where the interest rate must react to inflationary expectations, the rule is not af- fected by the structure of the labor market. The results of the model are consistent with a well known empirical regularity in macroeconomics, i.e. that employment volatility is larger than real wage volatility. [O] . Lorenza Rossi, Fabrizio Mattesini 100

机译：在本文中，我们分析了DsGE新凯恩斯主义模型，该模型具有明显的劳动力，其中企业可能属于两个不同的最终产品生产部门，其中工资和就业是在竞争性劳动力市场中确定的，而工资和就业是由工资和就业导致的。工会和公司之间的合同过程。企业和垄断联盟之间的讨价还价意味着模型中的实际工资刚性，反过来，产出稳定和通货膨胀稳定之间的内生权衡。我们表明，生产率冲击对通货膨胀的负面影响以及成本推动冲击的积极影响，主要取决于属于竞争部门的企业比例。这个数字越大，这些效果越小。我们得出一个基于福利的目标函数作为经济代理人的预期效用的二阶泰勒近似，我们分析最优货币政策。我们表明，属于竞争性行业的企业数量越大，名义利率对外生生产率和成本推动冲击的反应就越小。但是，如果我们考虑利率必须对通胀预期作出反应的工具规则，则该规则不受劳动力市场结构的影响。该模型的结果与宏观经济学中众所周知的经验规律一致，即就业波动率大于实际工资波动率。

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