Showing 1 - 2 of 2
I consider a method using loop variables that can limit the size of the of a rational-expectations model and hopefully speed up the process of solving it. We can generally write such a model using a "Blanchard-Kahn" specification f_t(y_t, y_{t-1}, y_{t+1}, x_t) = 0 , where y is endogenous, x is...
Persistent link: https://www.econbiz.de/10005537733
In this paper we evaluate available packages designed for macroeconomic modelling. First we stress the qualities needed for building, maintaining and using an operational model, used professionally for forecasting purposes. We shall first address the global features of the process, then its...
Persistent link: https://www.econbiz.de/10005345494