Solving dynamic general equilibrium models using a second-order approximation to the policy function

This paper derives a second-order approximation to the solution of rational expectations, dynamic, general equilibrium models. To illustrate its applicability, the method is used to solve the dynamics of a simple neoclassical model. The paper closes with a brief description of a set of MATLAB programs designed to implement the method.

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Year of publication:	2001
Authors:	Schmitt-Grohé, Stephanie ; Uribe, Martín
Publisher:	New Brunswick, NJ : Rutgers University, Department of Economics
Subject:	Allgemeines Gleichgewicht \| Dynamisches Modell \| Rationale Erwartung \| Theorie \| Perturbation Method \| Second Order Approximation \| Solving Dynamic General Equilibrium Models

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Series:	Working Paper ; 2001-06
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	338639896 [GVK] hdl:10419/79154 [Handle] RePEc:rut:rutres:200106 [RePEc]
Classification:	C63 - Computational Techniques ; E0 - Macroeconomics and Monetary Economics. General
Source:	EconStor

Persistent link: https://www.econbiz.de/10010318340