Solution of RE models with anticipated shocks and optimal policy

by Hans-Werner Wohltmann and Roland Winkler

The purpose of this paper is to solve linear dynamic rational expectations models with anticipated shocks by using the generalized Schur decomposition method. We also determine the optimal unrestricted and restricted policy responses to temporary as well as permanent shocks which both are anticipated by the public. In particular, our method is useful for the analysis of optimal monetary policy in New Keynesian dynamic general equilibrium models.

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Year of publication:	20 Dec. 2007
Other Persons:	Wohltmann, Hans-Werner (contributor) ; Winkler, Roland (contributor)
Publisher:	Kiel : Univ., Dep. of Economics
Subject:	Neoklassische Synthese \| Neoclassical synthesis \| Dynamisches Gleichgewicht \| Dynamic equilibrium \| Allgemeines Gleichgewicht \| General equilibrium \| Schock \| Shock \| Rationale Erwartung \| Rational expectations \| Dekompositionsverfahren \| Decomposition method \| Geldpolitik \| Monetary policy \| Theorie \| Theory

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Extent:	Online-Ressource, 24 S., Text
Series:	Economics working paper. - Kiel : Univ., Dep. of Economics, ISSN 2193-2476, ZDB-ID 2111620-9. - Vol. 2007,32
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Systemvoraussetzungen: Acrobat Reader
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10003609039