《高级宏观学教学资料》ch5_notes.pdfVIP

. Supplementary Notes on Chapter 5 of D. Romer’s Advanced Macroeconomics Textbook (4th Edition) . Changsheng Xu Ming Yi School of Economics, Huazhong University of Science and Technology This version: May 5, 2015 Xu Yi (HUST) Advanced Macroeconomics Supplementary Notes 1 / 12 Section 5.3 Interpreting ρA and ρG Interpreting ρA and ρG (5.9) A?t = ρAA?t?1 + εA,t, ?1 ρA 1 (5.11) G?t = ρGG?t?1 + εG,t, ?1 ρG 1 Merits of Stationary processes? E?ects of a sudden shock keep