Parameter Tuning for Baseline

Ichiro Takahashi
Additional contact information
Ichiro Takahashi: Chuo University

Chapter Chapter 5 in An Artificial Wicksell—Keynes Macroeconomy, 2021, pp 77-92 from Springer

Abstract: Abstract The model developed in Chaps. 2 and 3 has many parameters (33 in total). Hence, a simulation with arbitrarily chosen parameters will generate highly erratic behaviors of agents. This chapter discusses how the baseline values of the model variables and parameters, listed in Tables 5.1 and 5.2, were chosen. Section 5.1 reports some results of parameter tuning using surrogate models. Section 5.2 presents some bivariate sensitivity results on nominal wage–price rigidity, β w and β p, while fixing other parameters at their baseline values. Table 5.1 The variables of the model Symbol Description Initial valuea A $$\mathcal {A}$$ Net wealth −b A L $$\mathcal {A}^L$$ Liquid asset − B Outstanding bank bonds θ B ( L 0 ℓ + L 0 c ) c $$\theta _B(L^{\ell }_0+L^c_0)^{\mathrm {c}}$$ C Real consumption spending − Dep Depreciation cost − Div Dividend of firm 0.0 Div B Dividend of the bank − E f Firm f’s equity (capital) − E B Bank equity (capital) M G $$M_{\mathcal {G}}$$ E G $$E^{\mathcal {G}}$$ Government equity (

Date: 2021
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-6839-5_5

Ordering information: This item can be ordered from
http://www.springer.com/9789811668395

DOI: 10.1007/978-981-16-6839-5_5

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().