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<p>Next Reaction Method for Solving Dynamic Macroeconomic Models: A Growth Regressions Simulation</p>

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Title Statement <p>Next Reaction Method for Solving Dynamic Macroeconomic Models: A Growth Regressions Simulation</p>
 
Added Entry - Uncontrolled Name Alaminos, David ; University of Málaga, Spain
León-Gómez, Ana ; University of Málaga, Spain
Fernández-Gámez, M A; University of Málaga, Spain
Ferreira, T Santos; Institute of Business Management, Porto, Portugal
 
Uncontrolled Index Term Growth regressions, Macroeconomic models, Monte Carlo algorithms, Next Reaction Method, Solow model
 
Summary, etc. <p>Recent studies apply the Monte Carlo method to try to solve multiple data problems for dynamic macroeconomic models such as measurement errors, residue correlation, and omitted variables. This paper evaluates the estimate of economic growth regressions from the Solow model by applying the Next Reaction Method, similar to the Monte Carlo kinetic methods. Our results indicate that with the said algorithm the estimation of these models improves since they increase the levels of precision of the existing models simulated with Monte Carlo, achieving faster the convergence of the coefficients of the variables reduces the possible measurement errors and the level of deviations. These results can be very useful in their application in dynamic macroeconomic models, which help the estimation challenges of policymakers and other related stakeholders.</p>
 
Publication, Distribution, Etc. Journal of Scientific & Industrial Research
2022-11-19 07:20:43
 
Electronic Location and Access application/pdf
http://op.niscair.res.in/index.php/JSIR/article/view/68666
 
Data Source Entry Journal of Scientific & Industrial Research; ##issue.vol## 79, ##issue.no## 4 (2020): Journal of Scientific & Industrial Research
 
Language Note en