An alternative methodology for solving nonlinear forward-looking models
Author
Abstract
Suggested Citation
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Loufir, Rahim & Malgrange, Pierre, 1994. "Long run of macroeconometric models (the) : the case of multimod," CEPREMAP Working Papers (Couverture Orange) 9413, CEPREMAP.
- Fair, Ray C & Taylor, John B, 1983.
"Solution and Maximum Likelihood Estimation of Dynamic Nonlinear Rational Expectations Models,"
Econometrica, Econometric Society, vol. 51(4), pages 1169-1185, July.
- Ray C. Fair & John B. Taylor, 1980. "Solution and Maximum Likelihood Estimation of Dynamic Nonlinear RationalExpectations Models," NBER Technical Working Papers 0005, National Bureau of Economic Research, Inc.
- Ray C. Fair & John B. Taylor, 1980. "Solution and Maximum Likelihood Estimation of Dynamic Nonlinear Rational Expectations Models," Cowles Foundation Discussion Papers 564, Cowles Foundation for Research in Economics, Yale University.
- Blanchard, Olivier Jean & Kahn, Charles M, 1980. "The Solution of Linear Difference Models under Rational Expectations," Econometrica, Econometric Society, vol. 48(5), pages 1305-1311, July.
- repec:adr:anecst:y:1990:i:17:p:04 is not listed on IDEAS
- Gourieroux, C & Laffont, J J & Monfort, Alain, 1982. "Rational Expectations in Dynamic Linear Models: Analysis of the Solutions," Econometrica, Econometric Society, vol. 50(2), pages 409-425, March.
- Hall, S G, 1985. "On the Solution of Large Economic Models with Consistent Expectations," Bulletin of Economic Research, Wiley Blackwell, vol. 37(2), pages 157-161, May.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Juillard, Michel & Laxton, Douglas & McAdam, Peter & Pioro, Hope, 1998. "An algorithm competition: First-order iterations versus Newton-based techniques," Journal of Economic Dynamics and Control, Elsevier, vol. 22(8-9), pages 1291-1318, August.
- Yongyang Cai & Kenneth L. Judd, 2023.
"A simple but powerful simulated certainty equivalent approximation method for dynamic stochastic problems,"
Quantitative Economics, Econometric Society, vol. 14(2), pages 651-687, May.
- Yongyang Cai & Kenneth L. Judd, 2021. "A Simple but Powerful Simulated Certainty Equivalent Approximation Method for Dynamic Stochastic Problems," NBER Working Papers 28502, National Bureau of Economic Research, Inc.
- Armstrong, John & Black, Richard & Laxton, Douglas & Rose, David, 1998. "A robust method for simulating forward-looking models," Journal of Economic Dynamics and Control, Elsevier, vol. 22(4), pages 489-501, April.
- Dixon, Peter B. & Pearson, K.R. & Picton, Mark R. & Rimmer, Maureen T., 2005. "Rational expectations for large CGE models: A practical algorithm and a policy application," Economic Modelling, Elsevier, vol. 22(6), pages 1001-1019, December.
- Coenen, Gunter & Wieland, Volker, 2003.
"The zero-interest-rate bound and the role of the exchange rate for monetary policy in Japan,"
Journal of Monetary Economics, Elsevier, vol. 50(5), pages 1071-1101, July.
- Coenen, Günter & Wieland, Volker, 2003. "The Zero-Interest Rate Bound and the Role of the Exchange Rate for Monetary Policy in Japan," CEPR Discussion Papers 3895, C.E.P.R. Discussion Papers.
- Volker Wieland & Gunter Coenen, 2003. "The Zero-Interest-Rate Bound and the Role of the Exchange Rate for Monetary Policy in Japan," Computing in Economics and Finance 2003 138, Society for Computational Economics.
- Wieland, Volker & Coenen, Günter, 2003. "The zero-interest-rate bound and the role of the exchange rate for monetary policy in Japan," Working Paper Series 218, European Central Bank.
- Flint Brayton, 2011. "Two practical algorithms for solving rational expectations models," Finance and Economics Discussion Series 2011-44, Board of Governors of the Federal Reserve System (U.S.).
- Ajevskis, Viktors, 2019.
"Nonlocal Solutions To Dynamic Equilibrium Models: The Approximate Stable Manifolds Approach,"
Macroeconomic Dynamics, Cambridge University Press, vol. 23(6), pages 2544-2571, September.
- Viktors Ajevskis, 2013. "Non-Local Solutions to Dynamic Equilibrium Models: the Approximate Stable Manifolds Approach," Working Papers 2013/03, Latvijas Banka.
- Viktors Ajevskis, 2015. "Nonlocal Solutions to Dynamic Equilibrium Models: The Approximate Stable Manifolds Approach," Papers 1506.02521, arXiv.org.
- David Kendrick & Hans Amman, 2006.
"A Classification System for Economic Stochastic Control Models,"
Computational Economics, Springer;Society for Computational Economics, vol. 27(4), pages 453-481, June.
- Hans M. Amman & David A. Kendrick, 2003. "A Classification System for Economic Stochastic Control Models," Computing in Economics and Finance 2003 114, Society for Computational Economics.
- Mathilde Le Moigne & Francesco Saraceno & Sébastien Villemot, 2016.
"Probably Too Little, Certainly Too Late. An Assessment of the Juncker Investment Plan,"
PSE Working Papers
hal-03459360, HAL.
- Mathilde Le Moigne & Francesco Saraceno & Sebastien Villemot, 2016. "Probably too Little, Certainly too Late. An Assessement of the Juncker Investment Plan," Documents de Travail de l'OFCE 2016-10, Observatoire Francais des Conjonctures Economiques (OFCE).
- Mathilde Le Moigne & Francesco Saraceno & Sébastien Villemot, 2016. "Probably Too Little, Certainly Too Late. An Assessment of the Juncker Investment Plan," Working Papers hal-03459360, HAL.
- Mathilde Le Moigne & Francesco Saraceno & Sébastien Villemot, 2016. "Probably Too Little, Certainly Too Late. An Assessment of the Juncker Investment Plan," SciencePo Working papers Main hal-03459360, HAL.
- Patrick Minford & Naveen Srinivasan, 2015.
"Can the Learnability Criterion Ensure Determinacy in New Keynesian Models?,"
South Asian Journal of Macroeconomics and Public Finance, , vol. 4(1), pages 43-61, June.
- Minford, Patrick & Srinivasan, Naveen, 2012. "Can the learnability criterion ensure determinacy in New Keynesian Models?," CEPR Discussion Papers 9039, C.E.P.R. Discussion Papers.
- Patrick Minford & Naveen Srinivasan, 2014. "Can the Learnability Criterion Ensure Determinacy in New Keynesian Models?," Working Papers 2014-087, Madras School of Economics,Chennai,India.
- Minford, Patrick & Srinivasan, Naveen, 2012. "Can the learnability criterion ensure determinacy in New Keynesian Models?," Cardiff Economics Working Papers E2012/16, Cardiff University, Cardiff Business School, Economics Section.
- Coenen Günter & Orphanides Athanasios & Wieland Volker, 2004.
"Price Stability and Monetary Policy Effectiveness when Nominal Interest Rates are Bounded at Zero,"
The B.E. Journal of Macroeconomics, De Gruyter, vol. 4(1), pages 1-25, February.
- Athanasios Orphanides & Volker W. Wieland, 1998. "Price stability and monetary policy effectiveness when nominal interest rates are bounded at zero," Finance and Economics Discussion Series 1998-35, Board of Governors of the Federal Reserve System (U.S.).
- Coenen, Günter & Orphanides, Athanasios & Wieland, Volker, 2003. "Price Stability and Monetary Policy Effectiveness when Nominal Interest Rates are Bounded at Zero," CEPR Discussion Papers 3892, C.E.P.R. Discussion Papers.
- Coenen, Günter & Orphanides, Athanasios & Wieland, Volker, 2003. "Price stability and monetary policy effectiveness when nominal interest rates are bounded at zero," CFS Working Paper Series 2003/13, Center for Financial Studies (CFS).
- Orphanides, Athanasios & Wieland, Volker & Coenen, Günter, 2003. "Price stability and monetary policy effectiveness when nominal interest rates are bounded at zero," Working Paper Series 231, European Central Bank.
- Lindé, Jesper & Smets, Frank & Wouters, Rafael, 2016.
"Challenges for Central Banks´ Macro Models,"
Working Paper Series
323, Sveriges Riksbank (Central Bank of Sweden).
- Linde, Jesper & Smets, Frank & Wouters, Rafael, 2016. "Challenges for Central Banks' Macro Models," CEPR Discussion Papers 11405, C.E.P.R. Discussion Papers.
- Amman, Hans M. & Kendrick, David A., 1998.
"Computing the steady state of linear quadratic optimization models with rational expectations,"
Economics Letters, Elsevier, vol. 58(2), pages 185-191, February.
- Hans M. Amman & David A. Kendrick, 1997. "Computing the Steady State of Linear Quadratic Optimization Models with Rational Expectations," CARE Working Papers 9707, The University of Texas at Austin, Center for Applied Research in Economics.
- Fujiwara, Ippei & Hara, Naoko & Hirose, Yasuo & Teranishi, Yuki, 2005.
"The Japanese Economic Model (JEM),"
Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 23(2), pages 61-142, May.
- Ippei Fujiwara & Naoko Hara & Yasuo Hirose & Yuki Teranishi, 2004. "The Japanese Economic Model: JEM," Bank of Japan Working Paper Series 04-E-3, Bank of Japan.
- Yuki Teranishi & Ippei Fujiwara & Naoko Hara, 2004. "The Japanese Economic Model: JEM," Econometric Society 2004 Far Eastern Meetings 723, Econometric Society.
- Shalva Mkhatrishvili & Douglas Laxton & Davit Tutberidze & Tamta Sopromadze & Saba Metreveli & Lasha Arevadze & Tamar Mdivnishvili & Giorgi Tsutskiridze, 2019. "Solving non-linear dynamic models (more) efficiently: application to a simple monetary policy model," NBG Working Papers 01/2019, National Bank of Georgia.
- Günter Coenen & Carlos Montes‐Galdón & Frank Smets, 2023.
"Effects of State‐Dependent Forward Guidance, Large‐Scale Asset Purchases, and Fiscal Stimulus in a Low‐Interest‐Rate Environment,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(4), pages 825-858, June.
- Günter Coenen & Carlos Montes-Galdón & Frank Smets, 2019. "Effects of State-Dependent Forward Guidance, Large-Scale Asset Purchases and Fiscal Stimulus in a Low-Interest-Rate Environment," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 19/983, Ghent University, Faculty of Economics and Business Administration.
- Smets, Frank & Coenen, Günter & Montes-Galdón, Carlos, 2021. "Effects of State-Dependent Forward Guidance, Large-Scale Asset Purchases and Fiscal Stimulus in a Low-Interest-Rate Environment," CEPR Discussion Papers 16050, C.E.P.R. Discussion Papers.
- Coenen, Günter & Montes-Galdón, Carlos & Smets, Frank, 2020. "Effects of state-dependent forward guidance, large-scale asset purchases and fiscal stimulus in a low-interest-rate environment," CFS Working Paper Series 639, Center for Financial Studies (CFS).
- Coenen, Günter & Montes-Galdón, Carlos & Smets, Frank, 2020. "Effects of state-dependent forward guidance, large-scale asset purchases and fiscal stimulus in a low-interest-rate environment," Working Paper Series 2352, European Central Bank.
- Ajevskis Viktors, 2017.
"Semi-global solutions to DSGE models: perturbation around a deterministic path,"
Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 21(2), pages 1-28, April.
- Viktors Ajevskis, 2014. "Semi-Global Solutions to DSGE Models: Perturbation around a Deterministic Path," Working Papers 2014/01, Latvijas Banka.
- Viktors Ajevskis, 2015. "Semi-Global Solutions to DSGE Models: Perturbation around a Deterministic Path," Papers 1506.02522, arXiv.org.
- Ajevskis, Viktors, 2015. "Semi-Global Solutions to DSGE Models: Perturbation around a Deterministic Path," Dynare Working Papers 44, CEPREMAP.
- Boucekkine, Raouf & Juillard, Michel & Malgrange, Pierre, 1997.
"Precision Performances of Terminal Conditions for Short Time Horizons Forward-Looking Systems,"
Computational Economics, Springer;Society for Computational Economics, vol. 10(2), pages 169-186, May.
- Boucekkine, Raouf & Juillard, Michel & Malgrange, Pierre, 1995. "Precision performances of terminal conditions for short time horizons forward-looking systems," UC3M Working papers. Economics 3909, Universidad Carlos III de Madrid. Departamento de EconomÃa.
- John B. Taylor, 2002.
"The Monetary Transmission Mechanism and the Evaluation of Monetary Policy Rules,"
Central Banking, Analysis, and Economic Policies Book Series, in: Norman Loayza & Klaus Schmidt-Hebbel & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series (ed.),Monetary Policy: Rules and Transmission Mechanisms, edition 1, volume 4, chapter 2, pages 021-046,
Central Bank of Chile.
- John B. Taylor, 2000. "The Monetary Transmission Mechanism and the Evaluation of Monetary Policy Rules," Working Papers Central Bank of Chile 87, Central Bank of Chile.
- repec:hal:spmain:info:hdl:2441/2a4lft86ed8kqpphgfkgrdfrk1 is not listed on IDEAS
- Yue Ma & Guy Meredith & Matthew S. Yiu, 2002. "A Currency Board Model of Hong Kong," Working Papers 012002, Hong Kong Institute for Monetary Research.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:dyncon:v:19:y:1995:i:4:p:711-734. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/jedc .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.