Recursiveness assumption
WebHowever these recursiveness assumptions are controversial and alternative approaches exists. Though there are some advantages of abandoning recursiveness assumption but there is also a huge cost in terms of broad economic relationships which needs to be identified. The rest of the paper is organized as follows: first we present some discussion … WebJun 13, 2006 · Any such new principle would have to be of a very complicated, not general recursive, sort and should raise concerns about its effective applicability. In sum, the assumption that f is effectively calculable, but not recursive, would force its computability in a theory that is no longer recursively presentable.
Recursiveness assumption
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WebPapers that have adopted the recursiveness assumption include Sims , Bernanke and Blinder (1992, Christiano et al. , Christiano, Eichenbaum, and Evans , Altig et al. , and Christiano et al. . 15. The learning mechanism I use is the same as the mapping from perceived to actual laws of motion studied in, for example, Evans and McGough ( 2015 ). WebDec 17, 2009 · The recursiveness assumption requires that the following two steps be performed in order to estimate the dynamic responses of a variable to a monetary policy shock. The first step entails the estimation of the policy shocks from the (fitted) residuals from a regression of the monetary policy tool, the federal funds rate (ffr), on a set of ...
WebThe concept of recursiveness is central to the processual perspective (Weick 1969; Clark 1985a) and it is necessary to examine the notion of process more closely to ascertain its … Webthe fact that the recursiveness assumption is still the most widely adopted one in the applied macroeconomic arena [for two reference papers, see Christiano et al. (1999, 2005)]. Our results read as follows. First, we provide formal evidence of instability in the US post-WWII macroeconomic impulse responses to a monetary policy shock in 1984Q1.
WebThe conditions for block - recursiveness ' are the concern of this paper. Block-recursiveness of the Household Production Model Under Risk (Raul V. Fabella) The effects of a monetary policy shock: a recursiveness assumption In this section we discuss one widely used strategy for estimating the effects of a monetary policy shock. WebFeb 10, 2024 · Recursive perspectivism builds on the assumption that societal practices and societal value networks ultimately derive their strength and structure from the recursive meshing of actor-specific improvement perspectives and the intentional logics following from these. ... but from the recursiveness of improvement perspectives in relation to the ...
WebJun 1, 2024 · However, the assumption is not too restrictive as intermediate data revisions are not as substantial as the revisions for the latest estimates. 45 Given the recursiveness assumption, standard OLS procedures can consistently estimate the …
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