Computing Second-Order-Accurate Solutions for Rational Expectation Models Using Linear Solution Methods

This paper shows how to compute a second-order-accurate solution of a non-linear rational expectation model using algorithms developed for the solution of linear rational expectation models. The result is a state-space representation for the realized values of the variables of the model. This state-space representation can easily be used to compute impulse responses as well as conditional and unconditional forecasts

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Year of publication:	[2021]
Authors:	Lombardo, Giovanni ; Sutherland, Alan
Publisher:	[S.l.] : SSRN
Subject:	Rationale Erwartung \| Rational expectations \| Zustandsraummodell \| State space model

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