The Solution of Linear Difference Models under Rational Expectations
From MaRDI portal
Publication:3880539
DOI10.2307/1912186zbMath0438.90022OpenAlexW2014077903MaRDI QIDQ3880539
Charles M. Kahn, Olivier Blanchard
Publication date: 1980
Published in: Econometrica (Search for Journal in Brave)
Full work available at URL: https://doi.org/10.2307/1912186
rational expectationsexplicit solutionexistence conditionsdynamic behavioruniqueness conditionslinear difference models
Lua error in Module:PublicationMSCList at line 37: attempt to index local 'msc_result' (a nil value).
Related Items (only showing first 100 items - show all)
Kalman filter approach to solution of rational expectations models ⋮ Determinacy in linear rational expectations models ⋮ Solving linear rational expectations models in the presence of structural change: some extensions ⋮ Learning in two-dimensional beauty contest games: theory and experimental evidence ⋮ Incomplete asset markets and the cross-country consumption correlation puzzle ⋮ STATIC AND DYNAMIC EFFECTS OF CENTRAL BANK TRANSPARENCY ⋮ A SOLUTION METHOD FOR LINEAR RATIONAL EXPECTATION MODELS UNDER IMPERFECT INFORMATION ⋮ Checking for saddlepoint stability: An easy test ⋮ A distributed block approach to solving near-block-diagonal systems with an application to a large macroeconometric model ⋮ Fifth-order perturbation solution to DSGE models ⋮ Solving endogenous regime switching models ⋮ Optimal monetary policy under learning and structural uncertainty in a New Keynesian model with a cost channel and inflation inertia ⋮ Exploiting MIT shocks in heterogeneous-agent economies: the impulse response as a numerical derivative ⋮ Financial factors and monetary policy: determinacy and learnability of equilibrium ⋮ Solving generalized multivariate linear rational expectations models ⋮ Animal spirits and credit cycles ⋮ Identification of DSGE models -- the effect of higher-order approximation and pruning ⋮ Solving and estimating indeterminate DSGE models ⋮ Unnamed Item ⋮ Labor and investment frictions in a real business cycle model ⋮ Learnability and equilibrium selection under indeterminacy ⋮ Multiple steady states and indeterminacy in the Uzawa-Lucas model with educational externalities ⋮ DSGE Models with Student-tErrors ⋮ System reduction of dynamic stochastic general equilibrium models solved by \texttt{gensys} ⋮ Effects of weak identification on the MD estimator in dynamic stochastic general equilibrium models ⋮ Solving and simulating unbalanced growth models using linearization about the current state ⋮ Expectations, learning and empirical macroeconomic models ⋮ Stackelberg solution for a two-agent rational expectations model ⋮ The solution of time-varying linear rational expectations models and the role of terminal conditions ⋮ Capital income taxation, equilibrium determinacy, and the Taylor principle ⋮ Open loop time consistency for linear rational expectations models ⋮ On the relationship between determinate and MSV solutions in linear RE models ⋮ Determinacy, learnability, and discretionary policy ⋮ A sunspot paradox ⋮ Financial frictions and the fiscal theory of price level determination ⋮ Time to implement and aggregate fluctuations ⋮ Sunspot equilibria in a monetary real business cycle ⋮ Bounded rationality and heterogeneous expectations: Euler versus anticipated-utility approach ⋮ Endogenous technical change, employment and distribution in the Goodwin model of the growth cycle ⋮ A nonlinear stochastic growth model on discrete time domains ⋮ Interaction of fiscal and monetary policy in a monetary union under the zero lower bound constraint ⋮ Prospect theory and market quality ⋮ Economic dynamics of epidemiological bifurcations ⋮ SIZE, OPENNESS, AND MACROECONOMIC INTERDEPENDENCE ⋮ Does a unique solution exist for a nonlinear rational expectation equation with zero lower bound? ⋮ Global identification of linearized DSGE models ⋮ Market selection with an endogenous state ⋮ Multiple solutions in systems of functional differential equations ⋮ Monetary policy switching and indeterminacy ⋮ Stationary bubble equilibria in rational expectation models ⋮ Confounding dynamics ⋮ Solution of finite-horizon multivariate linear rational expectations models and sparse linear systems ⋮ Solution and control of linear rational expectations models with structural effects from future instruments ⋮ THE LINEAR SYSTEMS APPROACH TO LINEAR RATIONAL EXPECTATIONS MODELS ⋮ How equilibrium prices reveal information in a time series model with disparately informed, competitive traders ⋮ Monetary policy in open economies: practical perspectives for pragmatic central bankers ⋮ Determinacy and classification of Markov-switching rational expectations models ⋮ A characterization of Markov equilibrium in stochastic overlapping generations models ⋮ E-stability vis-à-vis determinacy in regime-switching models ⋮ Solving DSGE models with a nonlinear moving average ⋮ Trend growth and learning about monetary policy rules ⋮ Quantitative easing and the loan to collateral value ratio ⋮ Solvability of perturbation solutions in DSGE models ⋮ Testing DSGE models by indirect inference: a survey of recent findings ⋮ Assessing two common approaches for solving models with saddle-path instabilities ⋮ Rational expectations equilibria of economies with local interactions ⋮ A New Keynesian model with heterogeneous expectations ⋮ Bubble-free policy feedback rules ⋮ Stability of equilibrium asset pricing models: a necessary and sufficient condition ⋮ COMPUTATION OF BUSINESS CYCLE MODELS: A COMPARISON OF NUMERICAL METHODS ⋮ Determinacy analysis in high order dynamic systems: the case of nominal rigidities and limited asset market participation ⋮ DOES NEAR‐RATIONALITY MATTER IN FIRST‐ORDER APPROXIMATE SOLUTIONS? A PERTURBATION APPROACH ⋮ The long-run Taylor principle revisited ⋮ Dichotomy between macroprudential policy and monetary policy on credit and inflation ⋮ Cagan type rational expectation model on complex discrete time domains ⋮ Imperfect mobility of labor across sectors and fiscal transmission ⋮ Stable near-rational sunspot equilibria ⋮ MODELING THE EVOLUTION OF EXPECTATIONS AND UNCERTAINTY IN GENERAL EQUILIBRIUM ⋮ Monetary policy strategies for the European Central Bank ⋮ THE FISCAL THEORY OF THE PRICE LEVEL PUZZLE: A NON-RICARDIAN VIEW ⋮ Determinate perfect foresight forecasting in overlapping generations models ⋮ LEARNING THE INFLATION TARGET ⋮ Spatial externality and indeterminacy ⋮ LEARNING, COMMITMENT, AND MONETARY POLICY ⋮ Extensions of linearization to large econometric models with rational expectations ⋮ Some thoughts on rational expectations models, and alternate formulations ⋮ Global dynamics in a search and matching model of the labor market ⋮ Using the generalized Schur form to solve a multivariate linear rational expectations model ⋮ MONETARY POLICY AND SUNSPOT FLUCTUATIONS IN THE UNITED STATES AND THE EURO AREA ⋮ THE Z-TRANSFORM AND COMPARATIVE DYNAMICS IN DISCRETE-TIME MODELS ⋮ Unnamed Item ⋮ VAR INTERPRETATIONS OF HAAVELMO’S MARKET MODEL OF CAPITAL AND INVESTMENT ⋮ Quasi‐Bayesian Estimation of Time‐Varying Volatility in DSGE Models ⋮ Stochastic policy design in a learning environment with rational expectations. ⋮ Log-linear approximation versus an exact solution at the ZLB in the New Keynesian model ⋮ Time-varying rational expectations models ⋮ Capital regulation and banking bubbles ⋮ The Non-Robustness of Saddle-Point Dynamics: A Methodological Perspective ⋮ The RPEs of RBCs and other DSGEs ⋮ Saddlepath learning, MSV learning and consistency of subjective expectations
This page was built for publication: The Solution of Linear Difference Models under Rational Expectations