Finn E Kydland
Biographic Data
| ID | 1454982 |
|---|---|
| NAME | Finn E Kydland |
| GIVEN NAMES | Finn E |
| FAMILY NAME | Kydland |
| SIGNATURE | KYDLAND F E |
| AFFILIATIONS | Professor of Economics, Carnegie-Mellon University, Pittsburgh, Pennsylvania; Research Associate, Federal Reserve Bank of Cleveland, Cleveland, Ohio. |
| VERIFIED | No |
| TOTAL WORKS | 8 |
| TOTAL CITATIONS | 675 |
| AUTHOR COUNT | 8 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1977 |
| LATEST PUBLICATION YEAR | 2001 |
| H-INDEX | 5 |
Home Production Meets Time to Build
An innovation in this paper is to introduce a time-to-build technology for the production of market capital into a model with home production. Our main finding is that the two anomalies that have plagued all household production modelsthe positive correlation between business and household investment, and household investment's leading business investment over the business cycleare resolved when time to build is added
The Computational Experiment: An Econometric Tool
An economic experiment places people in an environment desired by the experimenter, who then records the time paths of their economic behavior. Performing experiments using actual people at the level of national economies is obviously impractical but constructing a model economy and computing the economic behavior of the model's people is. Such experiments are termed 'computational' because economic behavior of the model's people is computed. Thi…
Frontiers of Business Cycle Research
List of IllustrationsList of TablesPrefaceContributors1Economic Growth and Business Cycles12Recursive Methods for Computing Equilibria of Business Cycle Models393Computing Equilibria of Nonoptimal Economies654Models with Heterogeneous Agents985Business Cycles and Aggregate Labor Market Fluctuations1266Household Production in Real Business Cycle Theory1577Money and the Business Cycle1758Non-Walrasian Economies2179Dynamic General Equilibrium Models…
The Gold Standard As a Rule: An Essay in Exploration
International Real Business Cycles
The authors ask whether a two-country business cycle model can account simultaneously for domestic and international aspects of business cycles. With this question in mind, the authors document a number of discrepancies between theory and data. The most striking discrepancy concerns the correlations of consumption and output across countries. In this data, outputs are generally more highly correlated across countries than consumptions. In the mod…
Implications of dynamic optimal taxation for the evolution of tax structures: A comment
Time to Build and Aggregate Fluctuations
The equilibrium growth model is modified and used to explain the cyclical variances of a set of economic time series, the covariances between real output and the other series, and the autocovariance of output. The model is fitted to quarterly data for the post-war U.S. economy. Crucial features of the model are the assumption that more than one time period is required for the construction of new productive capital, and the non-time-separable util…
Rules Rather than Discretion: The Inconsistency of Optimal Plans
Even if there is an agreed-upon, fixed social objective function and policymakers know the timing and magnitude of the effects of their actions, discretionary policy, namely, the selection of that decision which is best, given the current situation and a correct evaluation of the end-of-period position, does not result in the social objective function being maximized. The reason for this apparent paradox is that economic planning is not a game ag…
Rules Rather than Discretion: The Inconsistency of Optimal Plans
Even if there is an agreed-upon, fixed social objective function and policymakers know the timing and magnitude of the effects of their actions, discretionary policy, namely, the selection of that decision which is best, given the current situation and a correct evaluation of the end-of-period position, does not result in the social objective function being maximized. The reason for this apparent paradox is that economic planning is not a game ag…
The Gold Standard As a Rule: An Essay in Exploration
International Real Business Cycles
The authors ask whether a two-country business cycle model can account simultaneously for domestic and international aspects of business cycles. With this question in mind, the authors document a number of discrepancies between theory and data. The most striking discrepancy concerns the correlations of consumption and output across countries. In this data, outputs are generally more highly correlated across countries than consumptions. In the mod…
The Computational Experiment: An Econometric Tool
An economic experiment places people in an environment desired by the experimenter, who then records the time paths of their economic behavior. Performing experiments using actual people at the level of national economies is obviously impractical but constructing a model economy and computing the economic behavior of the model's people is. Such experiments are termed 'computational' because economic behavior of the model's people is computed. Thi…
Home Production Meets Time to Build
An innovation in this paper is to introduce a time-to-build technology for the production of market capital into a model with home production. Our main finding is that the two anomalies that have plagued all household production modelsthe positive correlation between business and household investment, and household investment's leading business investment over the business cycleare resolved when time to build is added
Rules Rather than Discretion: The Inconsistency of Optimal Plans
Even if there is an agreed-upon, fixed social objective function and policymakers know the timing and magnitude of the effects of their actions, discretionary policy, namely, the selection of that decision which is best, given the current situation and a correct evaluation of the end-of-period position, does not result in the social objective function being maximized. The reason for this apparent paradox is that economic planning is not a game ag…
Time to Build and Aggregate Fluctuations
The equilibrium growth model is modified and used to explain the cyclical variances of a set of economic time series, the covariances between real output and the other series, and the autocovariance of output. The model is fitted to quarterly data for the post-war U.S. economy. Crucial features of the model are the assumption that more than one time period is required for the construction of new productive capital, and the non-time-separable util…
Implications of dynamic optimal taxation for the evolution of tax structures: A comment
International Real Business Cycles
The authors ask whether a two-country business cycle model can account simultaneously for domestic and international aspects of business cycles. With this question in mind, the authors document a number of discrepancies between theory and data. The most striking discrepancy concerns the correlations of consumption and output across countries. In this data, outputs are generally more highly correlated across countries than consumptions. In the mod…
Frontiers of Business Cycle Research
List of IllustrationsList of TablesPrefaceContributors1Economic Growth and Business Cycles12Recursive Methods for Computing Equilibria of Business Cycle Models393Computing Equilibria of Nonoptimal Economies654Models with Heterogeneous Agents985Business Cycles and Aggregate Labor Market Fluctuations1266Household Production in Real Business Cycle Theory1577Money and the Business Cycle1758Non-Walrasian Economies2179Dynamic General Equilibrium Models…
The Gold Standard As a Rule: An Essay in Exploration
The Computational Experiment: An Econometric Tool
An economic experiment places people in an environment desired by the experimenter, who then records the time paths of their economic behavior. Performing experiments using actual people at the level of national economies is obviously impractical but constructing a model economy and computing the economic behavior of the model's people is. Such experiments are termed 'computational' because economic behavior of the model's people is computed. Thi…
Home Production Meets Time to Build
An innovation in this paper is to introduce a time-to-build technology for the production of market capital into a model with home production. Our main finding is that the two anomalies that have plagued all household production modelsthe positive correlation between business and household investment, and household investment's leading business investment over the business cycleare resolved when time to build is added
Economics (8 works) · Macroeconomics (6 works) · Monetary Policy and Economic Impact (6 works) · Economic theories and models (5 works) · Economic Theory and Policy (4 works) · Microeconomics (4 works) · Business cycle (3 works) · Computer Science (3 works) · Econometrics (3 works) · Management (3 works)