The Solution of Nonlinear Forward Looking Rational Expectations Models PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download The Solution of Nonlinear Forward Looking Rational Expectations Models PDF full book. Access full book title The Solution of Nonlinear Forward Looking Rational Expectations Models by Peter Jurriëns. Download full books in PDF and EPUB format.
Author: Peter Jurriëns
Publisher:
ISBN:
Category :
Languages : en
Pages : 18
Get Book Here
Book Description
Author: Peter Jurriëns
Publisher:
ISBN:
Category :
Languages : en
Pages : 18
Get Book Here
Book Description
Author: Mr.Douglas Laxton
Publisher: International Monetary Fund
ISBN: 1451947143
Category : Business & Economics
Languages : en
Pages : 30
Get Book Here
Book Description
The development and use of forward-looking macro models in policymaking institutions has proceeded at a pace much slower than predicted in the early 1980s. An important reason is that researchers have not had access to robust and efficient solution techniques for solving nonlinear forward-looking models. This paper discusses the properties of a new algorithm that is used for solving MULTIMOD, the IMF’s multicountry model of the world economy. This algorithm is considerably faster and much less prone to simulation failures than to traditional algorithms and can also be used to solve individual country models of the same size.
Author: Douglas Laxton
Publisher:
ISBN:
Category :
Languages : en
Pages : 30
Get Book Here
Book Description
The development and use of forward-looking macro models in policymaking institutions has proceeded at a pace much slower than predicted in the early 1980s. An important reason is that researchers have not had access to robust and efficient solution techniques for solving nonlinear forward-looking models. This paper discusses the properties of a new algorithm that is used for solving MULTIMOD, the IMF`s multicountry model of the world economy. This algorithm is considerably faster and much less prone to simulation failures than to traditional algorithms and can also be used to solve individual country models of the same size.
Author: Michael Mussa
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 38
Get Book Here
Book Description
Using variants of a modified version of Dornbusch's model of price level and exchange rate dynamics, it is demonstrated that satisfaction of the formal condition for existence of a unigue non-explosive solution of a linear rational expectations model with forward and backward looking dynamic processes (equality of the number of stable roots with the number of independent backward looking processes) does not guarantee the economic sensibility of this solution, even if one accepts the usual arguments for excluding "speculative babbles" from the solutions of such models. Moreover, satisfaction of the formal condition for existence of an infinity of non-explosive solutions for such rational expectations models (more stable roots than independent backward looking processes) does not assure that any of these solutions is economically sensible.
Author: L. Broze
Publisher: Routledge
ISBN: 1136457739
Category : Business & Economics
Languages : en
Pages : 134
Get Book Here
Book Description
A comprehensive exposition of rational expectations models is provided here, working up from simple univariate models to more sophisticated multivariate and non-linear models.
Author: Andrew P. Blake
Publisher:
ISBN:
Category : Computer software
Languages : en
Pages :
Get Book Here
Book Description
Author: Albert Marcet
Publisher:
ISBN:
Category : Econometric models
Languages : en
Pages : 118
Get Book Here
Book Description
Author: Charles H. Whiteman
Publisher: U of Minnesota Press
ISBN: 1452907935
Category : Business & Economics
Languages : en
Pages : 151
Get Book Here
Book Description
Author: Jeffrey C. Fuhrer
Publisher:
ISBN:
Category : Econometric models
Languages : en
Pages : 54
Get Book Here
Book Description
Author: Olivier J. Blanchard
Publisher:
ISBN:
Category : Rational expectations (Economic theory)
Languages : en
Pages : 38
Get Book Here
Book Description
Many methods have been proposed for the solution and simulation of medium or large size models under the assumption of rational expectations. The purpose of this paper is to present these methods, and to show how and where each can be applied. The methods fall into two groups. Methods in the first can be used to solve for perfect foresight paths in non-linear models. Methods in the second can be used in linear models, to solve either for paths or processes followed by endogenous variables. All the methods described here have been used in empirical applications and computer algorithms are available for most.
