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Analysis of Zhejiang Business Fluctuations with Dynamic Stochastic General Equilibrium Model

Conference paper

Abstract

Zhejiang has experienced high economic growth as well as wild business cycle fluctuations since reforming and opening. According to the stylized facts, this paper estimates the dynamic stochastic general equilibrium model to summarize the Zhejiang business fluctuations. And we can draw the main conclusions from the quantitative analysis: technology advances and labor changes are the main drivers of Zhejiang business fluctuations, while government consumption and net exports had only ignorable impacts.

Keywords

RBC model Volatility HP filter Macroeconomic variable Cyclical fluctuation 

Notes

Acknowledgements

This paper is supported by the foundation of Zhejiang Gongshang University and Humanities and Social Sciences Youth Fund of Ministry of Education (10YJC790091).

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Copyright information

© Springer Science+Business Media New York 2014

Authors and Affiliations

  1. 1.College of EconomicsZhejiang UniversityHang ZhouChina
  2. 2.Institute of Quantitative EconomicsZhejiang Gongshang UniversityHang ZhouChina

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