On Linear Quadratic Approximations

We prove the generality of the methodology proposed in Benigno and Woodford (2006). We show that, even in the presence of a distorted steady state, it is always possible and relatively simple to obtain a purely quadratic approximation to the welfare measure. We also show that, in order to do so, the timeless perspective assumption is crucial.

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Year of publication:	2006-07
Authors:	Debortoli, Davide ; Nunes, Ricardo

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Type of publication:	Book / Working Paper
Language:	English
Notes:	Debortoli, Davide and Nunes, Ricardo (2006): On Linear Quadratic Approximations.
Classification:	C60 - Mathematical Methods and Programming. General ; E0 - Macroeconomics and Monetary Economics. General
Source:	BASE

Persistent link: https://www.econbiz.de/10015241616