times. The extended path algorithm is a commonly used and fairly general method for solving dynamic nonlinear models with … rational expectations. This algorithm can be used for a wide range of cases, including for models with occasionally binding … computational improvements to the algorithm that speed up the calculations via vectorisations of the Jacobian matrix and residual …

rationality. Economic agents form their expectations using heuristics - they choose between a few simple rules based on their past …

individuals use simple rules of thumb (heuristics) to forecast the future inflation and output gap. We compare this model with the …

individuals use simple rules of thumb (heuristics) to forecast the future inflation and output gap. We compare this model with the …