|
Standard Deviation | ||
|
Model |
Output Inflation Interest rate |
Investment |
|
Data |
2.06 0.48 0.92 |
8.47 |
|
NK Model |
2.87 0.38_________0.64 |
8.51 |
|
Cross-correlation with Output | ||
|
Data |
1.00 -0.02 0.14 |
0.56 |
|
NK Model |
1.00 0.38_________0.40 |
0.73 |
|
Autocorrelations (Order=1) | ||
|
Data |
0.91 0.85 0.94 |
0.95 |
|
NK Model |
0.96 0.70_________0.91 |
0.96 |
Table 4: Selected Second Moments - US Economy♦
♦ All the second moments are theoretical moments computed from the model solutions (order of
approximation = 1). The results are based on the models’ posterior distribution.
Standard Deviation
|
Model |
Output |
Inflation |
Interest rate |
Investment |
|
Data |
1.22 |
0.97 |
1.93 |
5.30 |
|
NK Model |
2.02 |
1.04 |
1.41 |
7.59 |
|
NK Model with FA |
2.42 |
1.02 |
1.76 |
8.37 |
|
2-sector NK Model |
1.59 |
0.97 |
1.84 |
7.80 |
|
Cross-correlation with Output | ||||
|
Data |
1.00 |
0.11 |
0.32 |
0.42 |
|
NK Model 1 |
1.00 |
0.27 |
0.05 |
0.50 |
|
NK Model with FA |
1.00 |
0.14 |
0.44 |
0.46 |
|
2-sector NK Model |
1.00 |
0.18 |
0.31 |
0.29 |
|
Autocorrelations (Order |
=1) | |||
|
Data |
0.44 |
0.13 |
0.83 |
0.88 |
|
NK Model |
0.74 |
0.05 |
0.71 |
0.96 |
|
NK Model with FA |
0.79 |
-0.23 |
0.82 |
0.96 |
|
2-sector NK Model |
0.70 |
-0.11 |
0.88 |
0.93 |
Table 5: Selected Second Moments - Indian Economy
44
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