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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 …
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The financial crisis of 2008 has caused a series of drawbacks to economies around the world. Greek economy has been hit twice at 2009, since its credibility worsened, provoking the implication of harsh fiscal measures from the 2010 Memorandum of Understanding (MoU). The effects of these measures...
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computationally efficient filtering algorithm to estimate the non-linear model. Calculations are greatly simplified by appropriate … augmentation of the transition equation and exploiting the conditionally linear and Gaussian structure. The algorithm is shown to …
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computationally efficient filtering algorithm to estimate the nonlinear model. The algorithm is shown to be accurate in approximating …
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individuals use simple rules of thumb (heuristics) to forecast the future inflation and output gap. We compare this model with the …
Persistent link: https://www.econbiz.de/10003778819
individuals use simple rules of thumb (heuristics) to forecast the future inflation and output gap. We compare this model with the …
Persistent link: https://www.econbiz.de/10013316538
rationality. Economic agents form their expectations using heuristics - they choose between a few simple rules based on their past …
Persistent link: https://www.econbiz.de/10012490227