Several approaches to finding the second-order approximation to a dynamic model have been proposed recently. This paper …

This paper provides first and second-order approximation methods for the solution of non-linear dynamic stochastic …. The first-order approximation is consistent with a conditionally-linear model in which risk is still time-varying but has … second-order approximation of the solution, instead, is sufficient to get this role. Moreover, risk premia, evaluated using …

illustration, the method is used to derive a full second-order approximation for aggregate utility in a sticky price model. In an …

policies, but is shown to be quantitatively significant in a second order approximation, especially when technology movements …

This paper derives a second-order approximation to the solution of rational expectations, dynamic, general equilibrium …

a useful answer. In order to identify non-linear kinetics, a first-order approximation method is proposed for complexity …

a useful answer. In order to identify non-linear kinetics, a first-order approximation method is proposed for complexity …

a useful answer. In order to identify non-linear kinetics, a first-order approximation method is proposed for complexity …