Higher order approximations of stochastic rational expectations models
We describe algorithm to find higher order approximations of stochastic rational expectations models near the deterministic steady state. Using matrix representation of function derivatives instead of tensor representation we obtain simple expressions of matrix equations determining higher order terms.
|Date of creation:||Jul 2007|
|Date of revision:|
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- Kowal, Pawel, 2006. "A note on differentiating matrices," MPRA Paper 1239, University Library of Munich, Germany.
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