Economic Models - Convex Optimization
Economic Models - Convex Optimization
Economic Models - Convex Optimization
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56 Dipak R. Basu and Alexis Lazaridis<br />
Table 4. Response-multiplier period 3.<br />
Endogenous Y GBS P BD CD MS IR<br />
EXR −0.02199 −0.00069 0.05269 0.00133 −0.00042 −0.00573 −0.00062<br />
G 0.03001 0.00499 0.16536 0.02924 0.05923 0.04217 0.00570<br />
TY −0.02470 −0.01149 −0.16281 0.02472 −0.07031 −0.06325 −0.02220<br />
CI 0.00215 0.04676 −0.00252 −0.00399 −0.00465 −0.00671 0.06228<br />
Table 5. Response-multiplier period 5.<br />
Endogenous Y GBS P BD CD MS IR<br />
EXR −0.02133 −0.00088 0.05190 0.00152 −0.00201 −0.00595 −0.00089<br />
G 0.02058 0.00558 0.18078 0.01160 0.50890 0.07248 0.00530<br />
TY −0.01676 −0.00410 −0.16655 0.00695 −0.55026 −0.07779 −0.01013<br />
CI 0.00268 0.04465 −0.00267 −0.00403 −0.01967 −0.00726 0.05953<br />
Table 6. Response-multiplier period 7.<br />
Endogenous Y GBS P BD CD MS IR<br />
EXR −0.02067 −0.00116 0.04987 0.00135 −0.00104 −0.00558 −0.00129<br />
G 0.00733 0.01033 0.16455 0.00048 0.57357 0.10760 0.01206<br />
TY −0.00402 −0.00345 −0.14832 −0.01434 −0.58067 −0.10904 −0.00869<br />
CI 0.00200 0.04174 −0.00236 −0.00293 −0.02186 −0.00551 0.05566<br />
Table 7.<br />
Response of output to monetary and fiscal policies.<br />
Periods 1 2 3 5 7<br />
dY/dCI −0.00226 −0.00273 −0.00215 −0.00268 −0.00200<br />
dY/dEXR −0.02254 −0.02209 −0.02188 −0.02133 −0.02067<br />
dP/dG 0.14849 0.15603 0.16536 0.18078 0.16455<br />
dY/dG 0.03572 0.03203 0.03001 0.02058 0.00733<br />
dP/dTY −0.15549 −0.15688 −0.16281 −0.16655 −0.14832<br />
dY/dTY −0.03590 −0.02691 −0.02470 −0.01676 −0.00402<br />
dGBS/dG 0.00403 0.00568 0.00499 0.00558 0.01033
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