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How to compute perfect foresight equilibria

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  • Keuschnigg, Christian

Abstract

The paper reviews an algorithm for the iterative solution of rational expectations models. It shows in detail how general equilibrium models with perfect foresight and intertemporally optimizing behavior must be set up to be solved numerically with the algorithm. Three examples of intertemporal equilibrium models with increasing complexity are given. An extensive sensitivity analysis with respect to changes in the control parameters tests the efficiency of the algorithm in solving the examples.

Suggested Citation

  • Keuschnigg, Christian, 1991. "How to compute perfect foresight equilibria," Discussion Papers, Series II 150, University of Konstanz, Collaborative Research Centre (SFB) 178 "Internationalization of the Economy".
  • Handle: RePEc:zbw:kondp2:150
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    File URL: https://www.econstor.eu/bitstream/10419/101656/1/737082070.pdf
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    1. Burmeister,Edwin, 1980. "Capital Theory and Dynamics," Cambridge Books, Cambridge University Press, number 9780521297035, October.
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