Solving the multi-country real business cycle model using a perturbation method

DOI10.1016/J.JEDC.2010.09.012MaRDI QIDQ622253zbMATH OpenOpenAlexFDO

Authors Robert Kollmann, Jinill Kim, Sunghyun Henry Kim

Publication date 31 January 2011

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jedc.2010.09.012

zbMATH Keywords

first- and second-order perturbation methodreal business cycle model

Mathematics Subject Classification ID

Dynamic stochastic general equilibrium theory (91B51) Heterogeneous agent models (91B69) Computational methods for problems pertaining to game theory, economics, and finance (91-08)

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Cites work

• scientific article; zbMATH DE number 1241609 (Why is no real title available?)
• scientific article; zbMATH DE number 1873658 (Why is no real title available?)
• Calculating and using second-order accurate solutions of discrete time dynamic equilibrium models
• Comparison of solutions to the multi-country real business cycle model
• Computational suite of models with heterogeneous agents II: multi-country real business cycle models
• Computing second-order-accurate solutions for rational expectation models using linear solution methods
• Functional equivalence between intertemporal and multisectoral investment adjustment costs
• Multi-country real business cycle models: accuracy tests and test bench
• Solving dynamic general equilibrium models using a second-order approximation to the policy function
• Solving linear rational expectations models
• Solving the incomplete market model with aggregate uncertainty using a perturbation method
• WELFARE-MAXIMIZING OPERATIONAL MONETARY AND TAX POLICY RULES

Cited in

(11)

• Multi-step perturbation solution of nonlinear differentiable equations applied to an econometric analysis of productivity
• Solvability of perturbation solutions in DSGE models
• Computational suite of models with heterogeneous agents II: multi-country real business cycle models
• Comparison of solutions to the multi-country real business cycle model
• Multi-country real business cycle models: accuracy tests and test bench
• Solving the multi-country real business cycle model using ergodic set methods
• Solving the multi-country real business cycle model using a Smolyak-collocation method
• Solving the multi-country real business cycle model using a monomial rule Galerkin method
• Envelope condition method with an application to default risk models
• On the possible occurrence of duck solutions in domestic and two-region business cycle models
• Solving the Diamond-Mortensen-Pissarides model: a hybrid perturbation approach

Describes a project that uses

Uses Software

• Gensys
• Dynare
• CompEcon

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