A NEW APPROACH TO MODELING ENDOGENOUS GAIN LEARNING Eric Gaus, Srikanth Ramamurthy Advances in Econometrics, 2019 Marcet, and Nicolini (2003) and Milani (2014) demonstrate within the adaptive learning framework that a forecast error-based endogenous gain mechanism that switches between constant gain and decreasing gain may be more effective than the former alone in explaining time-varying parameters. In this paper, we propose an alternative endogenous gain scheme, henceforth referred to as CEG, that is based on recent coefficient estimates by the economic agents. We then show within a controlled simulation environment that CEG outperforms both constant gain learning as well as the aforementioned switching gain algorithm in terms of mean squared forecast errors (MSFE). In addition, we demonstrate within the context of a New Keynesian model that forecasts generated under CEG perform better in certain dimensions, particularly for inflation data, compared to constant gain learning. Combined with the fact that the proposed gain scheme ports easily to existing likelihood based inferential techniques used in constant gain learning, it is readily applicable to richer, more dynamic economic models.
DSGE Models with Student-t Errors Siddhartha Chib, Srikanth Ramamurthy Econometric Reviews, 2014 This paper deals with Dynamic Stochastic General Equilibrium (DSGE) models under a multivariate student-t distribution for the structural shocks. Based on the solution algorithm of Klein (2000) and the gamma-normal representation of the t-distribution, the TaRB-MH algorithm of Chib and Ramamurthy (2010 Chib , S. , Ramamurthy , S. ( 2010 ). Tailored randomized block MCMC methods with application to DSGE models . Journal of Econometrics 108 : 19 – 38 .[Crossref], [Web of Science ®] , [Google Scholar]) is used to estimate the model. A technique for estimating the marginal likelihood of the DSGE student-t model is also provided. The methodologies are illustrated first with simulated data and then with the DSGE model of Ireland (2004 Ireland , P. N. ( 2004 ). Technology shocks in the new keynesian model . Review of Economics and Statistics 86 ( 4 ): 923 – 936 .[Crossref], [Web of Science ®] , [Google Scholar]) where the results support the t-error model in relation to the Gaussian model.
Learning and loss functions: Comparing optimal and operational monetary policy rules Eric Gaus, Srikanth Ramamurthy International Journal of Mathematical Modelling and Numerical Optimisation, 2014 Modern Bayesian tools aided by MCMC techniques allow researchers to estimate models with increasingly intricate dynamics. This paper highlights the application of these tools with an empirical assessment of optimal versus operational monetary policy rules within a standard new Keynesian macroeconomic model with adaptive learning. The question of interest is which of the two policy rules – contemporaneous data or expectations of current variables – better describes the policy undertaken by the US central bank. Results for the data period 1954:III to 2007:I indicate that the data strongly favours contemporaneous expectations over real time data.
Improved performance of the positive output elementary split inductor-type boost converter using sliding mode controller plus fuzzy logic controller Wseas Transactions on Systems and Control, 2014
Investigations on PWM and PSM controlled DC/DC converter under supply voltage transients and variations International Review on Modelling and Simulations, 2012
Pulse skipping modulated DC to DC step down converter under discontinuous conduction mode World Academy of Science Engineering and Technology, 2011
Pulse skipping modulated DC to DC step Down converter under discontinuous conduction mode World Academy of Science Engineering and Technology, 2011
Pulse skipping modulated DC-DC converter modeling and simulation Journal of Electrical and Electronics Engineering, 2010
Modeling and Simulation of PSM DC-DC buck converter World Academy of Science Engineering and Technology, 2010
Modeling and simulation of PSM buck converter under DCM European Journal of Scientific Research, 2010
Modeling and simulation of PSM DC-DC buck converter World Academy of Science Engineering and Technology, 2009
Comparison of active filter performance for harmonic suppression for multiple non-linear loads Proceedings of the IEEE Power Engineering Society Transmission and Distribution Conference, 2002
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