Standard solution methods for linear rational expectations models assume a time-invariant structure. Recent work has gone beyond this by formulating solution methods for linear rational expectations models subject to structural changes, such as parameter shifts and policy reforms, that are...

This paper presents an algorithm for simulating multiple equilibria in otherwise-linearmodels with perfect foresight and occasionally-binding constraints. We extend theguess-verify approach of Guerrieri and Iacoviello (2015) to detect and simulate multipleperfect foresight equilibria, and also...