Higher order approximations of stochastic rational expectations models

We describe algorithm to find higher order approximations of stochastic rational expectations models near the deterministic steady state. Using matrix representation of function derivatives instead of tensor representation we obtain simple expressions of matrix equations determining higher order terms.

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Year of publication:	2007-07
Authors:	Kowal, Pawel

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Type of publication:	Book / Working Paper
Language:	English
Notes:	Kowal, Pawel (2007): Higher order approximations of stochastic rational expectations models.
Classification:	C63 - Computational Techniques ; C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; E17 - Forecasting and Simulation
Source:	BASE

Persistent link: https://www.econbiz.de/10015232293