In this paper, the performance of a Ring Laser Gyro based inertial navigation is investigated. Dynamic and stochastic modeling are applied to gyro simulation and performance evaluation. In the dynamic model, some parameters such as scale factor and environmental sensitivity have been determined, whereas in the stochastic model, the other parameters such as random drift and measurement noise...

The empirical success of RBC models is often judged by their ability to explain the behavior of a multitude of real macroeconomic variables using a single exogenous shock process. This paper shows that in a model with the same basic structure as the bare bones RBC model, monetary, cost push or preference shocks are equally successful at explaining the behavior of macroeconomic variables. Thus, ...

Despite its many strengths, the SAINTS (Squared-Autoregressive-Independent-Variable Nominal Term Structure) model of Constantinides (1992) cannot be directly compared with other popular term structure models such as Vasicek (1977) and Cox, Ingersoll and Ross (1985) mainly because the stochastic discount factor of the model is exogenously spec-iied. The primary motivation of this paper is to nd ...

The study of asset price characteristics of stochastic growth models such as the riskfree interest rate, equity premium and the Sharpe-ratio has been limited by the lack of global and accurate methods to solve dynamic optimization models. In this paper a stochastic version of a dynamic programming method with adaptive grid scheme is applied to compute the asset price characteristics of a stocha...

this paper shows the role of the general dynamic model in empirical research of production technology in agriculture. the model is a first order autoregressive multivariate specification, first developed by anderson and blundell. this model is general enough to nest several simpler dynamic as well as static models within it. therefore, it provides a framework for applying classical testing ...

A conventional wisdom in economics is that a model dealing frictionless markets with a large number of agents always yields a Walrasian outcome. In this paper we assess the above argument in a dynamic framework by modeling centralized auction markets, and show that in such markets the outcomes are not necessarily Walrasian; the set of stationary equilibria in our model is a continuum which incl...

The neoclassical growth model has emphasised the importance of technology shocks, which supposedly affect macroeconomic variables’ heterogeneously in a small open economy like Sierra Leone. Using Bayesian DSGE methodology for non-linear model, we found that investment-specific technological shock partly explains business cycle fluctuations Moreover, analysis indicates on output, capital, and co...

We explore the structural drivers of bank and nonbank credit cycles using a medium-scale dynamic stochastic general equilibrium (DSGE) model with two types financial intermediation. posit economywide sectoral disturbances in both macro sectors. estimate that shocks to balance sheets entrepreneurs are important for fluctuations growth at business cycle frequency. Economywide entrepreneurial risk...

This paper presents the simplest possible general-equilibrium model of an open economy in which producer and consumer decisions are both intraand intertemporally consistent. Consumers maximize the present value of the utility of consumption; producers maximize the present value of profits. The model solves for the set of intertemporally consistent prices. The parsimonious structure of the model...