The Z-Transform Method for Multidimensional Dynamic Economic Systems

Xiaoyong Cui, Liutang Gong, Zhao Xiaojun () and Heng-Fu Zou ()
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Xiaoyong Cui: Guanghua School of Management, Peking University

No 532, CEMA Working Papers from China Economics and Management Academy, Central University of Finance and Economics

Abstract: This paper uses the Z-transform to develop a method for solving the linearized multidimensional discrete-time systems, which can be used to discuss the e¡èects of policies on economy (including the welfare gains and initial e¡èects on economy) raised by multi-sector perfect-foresight-discrete-time models. Our method is not restricted on the dimension of the dynamic system, and it cannot only analyze the effect of permanent policy change on the economy, but also it can be used to analyze the e¡èect of temporal policy change on the economy. As an application example, we analyze the effects of fiscal policy on the initial economy and social welfare in the discrete-time Uzawa-Lucas model.

Keywords: Z-transform; Steady-state comparisons; Multi-sector model (search for similar items in EconPapers)
JEL-codes: C63 E1 H2 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2012
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Related works:
Journal Article: The Z -transform method for multidimensional dynamic economic systems (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:cuf:wpaper:532

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