部门冲击和整体冲击的经济影响分析——基于改进的中国7部门DSGE模型的数值模拟

Chinese Journal of Management Science ›› 2013, Vol. 21 ›› Issue (5): 15-22.

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The Effects of Sectoral Shocks and Aggregate Shocks——Based on the Simulation of an Improved 7-sector DSGE Model

WANG Jia^1,2, WANG Wen-zhou³, ZHANG Jin-shui¹

1. School of Economics and Management, Tsinghua University, Beijing 100084, China;
2. Institue of Economics Chinese Acodemy of Social Sciences, Beijing 100836, China;
3. School of Economics and Business Administration, Beijing Normal University, Beijing 100875, China

Received:2011-04-21 Revised:2013-05-07 Online:2013-10-30 Published:2013-10-15

Abstract

Abstract: In this paper,an improved 7-sector DSGE model is established in which the unsubstitutability of construction's capital and manufacturing's capital, the incomplete substitutability of labor inputs and sectoral shock are introduced. With impulse response analysis, the transmission mechanisms of sectoral shocks are analysed in detail. It is concluded that aggregate shock is mainly account for the comovement in business cycles. Further,as a result,it is indicated that using one-sector model to simulate aggregate output is a feasible simplification.

Key words: sectoral shock, aggregate shock, DSGE model

CLC Number:

F062.9

WANG Jia, WANG Wen-zhou, ZHANG Jin-shui. The Effects of Sectoral Shocks and Aggregate Shocks——Based on the Simulation of an Improved 7-sector DSGE Model[J]. Chinese Journal of Management Science, 2013, 21(5): 15-22.

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The Effects of Sectoral Shocks and Aggregate Shocks——Based on the Simulation of an Improved 7-sector DSGE Model

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