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A simple but powerful simulated certainty equivalent approximation method for dynamic stochastic problems
Cai, Yongyang; Kenneth, L. Judd, - In: Quantitative economics : QE ; journal of the … 14 (2023) 2, pp. 651-687
We introduce a novel simulated certainty equivalent approximation (SCEQ) method for solving dynamic stochastic problems. Our examples show that SCEQ can quickly solve high-dimensional finite- or infinite-horizon, stationary or non- stationary dynamic stochastic problems with hundreds of state...
Persistent link: https://www.econbiz.de/10014308586
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Genetic algorithm learning in a New Keynesian macroeconomic setup
Hommes, Cars H.; Makarewicz, Tomasz; Massaro, Domenico; … - In: Journal of evolutionary economics : JEE 27 (2017) 5, pp. 1133-1155
Persistent link: https://www.econbiz.de/10011895220
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Will the Fed ever learn?
Kasa, Kenneth - In: Journal of macroeconomics 21 (1999) 2, pp. 279-292
Persistent link: https://www.econbiz.de/10001369045
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Existence and uniqueness of solutions to dynamic models with occasionally binding constraints.
Holden, Tom D. - 2016 - This version: 30 July 2016
nominal interest rates, even when agents believe that the central bank will eventually attain its long-run, positive inflation … target. This illustrates that a credible long-run inflation target does not render the Taylor principle sufficient for …
Persistent link: https://www.econbiz.de/10011518459
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Existence and uniqueness of solutions to dynamic models with occasionally binding constraints.
Holden, Tom D. - 2016 - This version: 28 March 2016
nominal interest rates, even when agents believe that the central bank will eventually attain its long-run, positive inflation … target. This illustrates that a credible long-run inflation target does not render the Taylor principle sufficient for …
Persistent link: https://www.econbiz.de/10011452241
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Optimal policy with occasionally binding constraints : piecewise linear solution methods
Harrison, Richard; Waldron, Matt - 2021
Persistent link: https://www.econbiz.de/10012693963
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Existence and uniqueness of solutions to dynamic models with occasionally binding constraints.
Holden, Tom D. - 2017 - This version: 23 August 2017
eventually attain its long-run, positive inflation target. This illustrates that a credible long-run inflation target does not … level targeting does restore determinacy providing agents believe that inflation will eventually be positive. …
Persistent link: https://www.econbiz.de/10011717372
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Solving linear rational expectations models with predictable structural changes
Cagliarini, Adam; Kulish, Mariano - In: The review of economics and statistics 95 (2013) 1, pp. 328-336
Persistent link: https://www.econbiz.de/10009732081
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Solving linear rational expectations models with predictable structural changes
Cagliarini, Adam; Kulish, Mariano - 2008
Persistent link: https://www.econbiz.de/10003798283
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An Analytical Solution for the Interest Rate Reaction Function in a New-Keynesian Economy Using the Undetermined Coefficients Method
Arend, Mario - 2009
Central Bank optimization problem in a new-keynesian economy. The advantage of using this method is that it provides a theory …
Persistent link: https://www.econbiz.de/10013155121