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Solving Dynamic Equilibrium Models by a Method of Undetermined Coefficients Author info | Abstract | Publisher info | Download info | Related research | Statistics Lawrence J. Christiano
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I present an undetermined coefficients method for obtaining a linear approximating to the solution of a dynamic, rational expectations model. I also show how that solution can be used to compute the model's implications for impulse response functions and for second moments.
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Technical Working Papers with number
0225.
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Date of creation: Feb 1998Date of revision:
Handle: RePEc:nbr:nberte:0225Contact details of provider: Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A. Phone: 617-868-3900 Email: Web page: http://www.nber.org More information through EDIRC
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Find related papers by JEL classification: C6 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming C63 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Computational Techniques
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Edward C. Prescott, 1986.
"Theory ahead of business cycle measurement ,"
Quarterly Review ,
Federal Reserve Bank of Minneapolis, issue Fall, pages 9-22.
[Downloadable!]
Other versions:
Edward C. Prescott, 1986.
"Theory ahead of business cycle measurement ,"
Staff Report
102, Federal Reserve Bank of Minneapolis.
[Downloadable!] Prescott, Edward C., 1986.
"Theory ahead of business-cycle measurement ,"
Carnegie-Rochester Conference Series on Public Policy ,
Elsevier, vol. 25(1), pages 11-44, January.
[Downloadable!] (restricted) Lawrence J. Christiano & Martin Eichenbaum & Charles L. Evans, 1996.
"Sticky Price and Limited Participation Models of Money: A Comparison ,"
NBER Working Papers
5804, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions:
Lawrence J. Christiano & Martin Eichenbaum & Charles L. Evans, 1996.
"Sticky price and limited participation models of money: a comparison ,"
Staff Report
227, Federal Reserve Bank of Minneapolis.
[Downloadable!] Christiano, Lawrence J. & Eichenbaum, Martin & Evans, Charles L., 1997.
"Sticky price and limited participation models of money: A comparison ,"
European Economic Review ,
Elsevier, vol. 41(6), pages 1201-1249, June.
[Downloadable!] (restricted) Judd, Kenneth L., 1992.
"Projection methods for solving aggregate growth models ,"
Journal of Economic Theory ,
Elsevier, vol. 58(2), pages 410-452, December.
[Downloadable!] (restricted)
Other versions: Uhlig, H., 1995.
"A toolkit for analyzing nonlinear dynamic stochastic models easily ,"
Discussion Paper
97, Tilburg University, Center for Economic Research.
[Downloadable!]
Other versions: Schlagenhauf, Don E. & Wrase, Jeffrey M., 1995.
"Liquidity and real activity in a simple open economy model ,"
Journal of Monetary Economics ,
Elsevier, vol. 35(3), pages 431-461, June.
[Downloadable!] (restricted)
Other versions: Burnside, Craig & Eichenbaum, Martin & Rebelo, Sergio, 1993.
"Labor Hoarding and the Business Cycle ,"
Journal of Political Economy ,
University of Chicago Press, vol. 101(2), pages 245-73, April.
[Downloadable!] (restricted)
Other versions: Lawrence J. Christiano & Jonas D.M. Fisher, 1994.
"Algorithms for solving dynamic models with occasionally binding constraints ,"
Working Paper Series, Macroeconomic Issues
94-6, Federal Reserve Bank of Chicago.
Other versions:
Lawrence J. Christiano & Jonas D. M. Fisher, 1994.
"Algorithms for solving dynamic models with occasionally binding constraints ,"
Staff Report
171, Federal Reserve Bank of Minneapolis.
[Downloadable!] Lawrence J. Christiano & Jonas D.M. Fisher, 1997.
"Algorithms for Solving Dynamic Models with Occasionally Binding Constraints ,"
NBER Technical Working Papers
0218, National Bureau of Economic Research, Inc.
Lawrence J. Christiano & Jonas D.M. Fisher, 1997.
"Algorithms for solving dynamic models with occasionally binding constraints ,"
Working Paper Series, Macroeconomic Issues
WP-97-15, Federal Reserve Bank of Chicago.
Lawrence J. Christiano & Jonas D.M. Fisher, 1997.
"Algorithms for solving dynamic models with occasionally binding constraints ,"
Working Paper
9711, Federal Reserve Bank of Cleveland.
[Downloadable!] Christiano, Lawrence J. & Fisher, Jonas D. M., 2000.
"Algorithms for solving dynamic models with occasionally binding constraints ,"
Journal of Economic Dynamics and Control ,
Elsevier, vol. 24(8), pages 1179-1232, July.
[Downloadable!] (restricted) V. V. Chari & Patrick J. Kehoe & Ellen R. McGrattan, 1996.
"Sticky Price Models of the Business Cycle: Can the Contract Multiplier Solve the Persistence Problem? ,"
NBER Working Papers
5809, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions: Jonas D.M. Fisher, 1998.
"Credit market imperfections and the heterogeneous response of firms to monetary shocks ,"
Working Paper Series, Macroeconomic Issues
96-23, Federal Reserve Bank of Chicago.
[Downloadable!]
Other versions: V. V. Chari & Lawrence J. Christiano & Martin Eichenbaum, 1995.
"Inside Money, Outside Money and Short Term Interest Rates ,"
NBER Working Papers
5269, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions:
V.V. Chari & Lawrence J. Christiano & Martin Eichenbaum, 1995.
"Inside money, outside money and short term interest rates ,"
Working Paper Series, Macroeconomic Issues
95-13, Federal Reserve Bank of Chicago.
V. V. Chari & Lawrence J. Christiano & Martin Eichenbaum, 1994.
"Inside money, outside money and short-term interest rates ,"
Proceedings ,
Federal Reserve Bank of Cleveland, pages 1354-1401.
Chari, V V & Christiano, Lawrence J & Eichenbaum, Martin, 1995.
"Inside Money, Outside Money, and Short-Term Interest Rates ,"
Journal of Money, Credit and Banking ,
Blackwell Publishing, vol. 27(4), pages 1354-86, November.
[Downloadable!] (restricted) Lawrence J. Christiano & Martin Eichenbaum & Charles L. Evans, 1998.
"Modeling Money ,"
NBER Working Papers
6371, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions: Lawrence J. Christiano & Martin Eichenbaum, 1992.
"Liquidity effects and the monetary transmission mechanism ,"
Staff Report
150, Federal Reserve Bank of Minneapolis.
[Downloadable!]
Other versions:
Lawrence J. Christiano & Martin Eichenbaum, 1992.
"Liquidity Effects and the Monetary Transmission Mechanism ,"
NBER Working Papers
3974, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Christiano, Lawrence J & Eichenbaum, Martin, 1992.
"Liquidity Effects and the Monetary Transmission Mechanism ,"
American Economic Review ,
American Economic Association, vol. 82(2), pages 346-53, May.
Lawrence J. Christiano & Martin Eichenbaum, 1989.
"Unit Roots in Real GNP: Do We Know, and Do We Care? ,"
NBER Working Papers
3130, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions:
Lawrence J. Christiano & Martin Eichenbaum, 1989.
"Unit roots in real GNP: do we know, and do we care? ,"
Discussion Paper / Institute for Empirical Macroeconomics
18, Federal Reserve Bank of Minneapolis.
[Downloadable!] Lawrence J. Christiano & Martin Eichenbaum, 1990.
"Unit roots in real GNP: do we know, and do we care? ,"
Working Paper Series, Macroeconomic Issues
90-2, Federal Reserve Bank of Chicago.
Christiano, Lawrence J. & Eichenbaum, Martin, 1990.
"Unit roots in real GNP: Do we know, and do we care? ,"
Carnegie-Rochester Conference Series on Public Policy ,
Elsevier, vol. 32(1), pages 7-61, January.
[Downloadable!] (restricted) Christiano, Lawrence J & Eichenbaum, Martin, 1995.
"Liquidity Effects, Monetary Policy, and the Business Cycle ,"
Journal of Money, Credit and Banking ,
Blackwell Publishing, vol. 27(4), pages 1113-36, November.
[Downloadable!] (restricted)
Other versions:
Martin Eichenbaum & Lawrence J. Christiano, 1992.
"Liquidity Effects, Monetary Policy, and the Business Cycle ,"
NBER Working Papers
4129, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Lawrence J. Christiano & Martin Eichenbaum, 1992.
"Liquidity effects, monetary policy, and the business cycle ,"
Discussion Paper / Institute for Empirical Macroeconomics
70, Federal Reserve Bank of Minneapolis.
[Downloadable!] Lawrence J. Christiano & Martin Eichenbaum, 1992.
"Liquidity effects, monetary policy and the business cycle ,"
Working Paper Series, Macroeconomic Issues
92-15, Federal Reserve Bank of Chicago.
Merz, Monika, 1999.
"Heterogeneous job-matches and the cyclical behavior of labor turnover ,"
Journal of Monetary Economics ,
Elsevier, vol. 43(1), pages 91-124, February.
[Downloadable!] (restricted)
Burnside, Craig & Eichenbaum, Martin, 1996.
"Factor-Hoarding and the Propagation of Business-Cycle Shocks ,"
American Economic Review ,
American Economic Association, vol. 86(5), pages 1154-74, December.
[Downloadable!] (restricted)
Other versions: Fisher, Jonas D. M., 1997.
"Relative prices, complementarities and comovement among components of aggregate expenditures ,"
Journal of Monetary Economics ,
Elsevier, vol. 39(3), pages 449-474, August.
[Downloadable!] (restricted)
Blanchard, Olivier Jean & Kahn, Charles M, 1980.
"The Solution of Linear Difference Models under Rational Expectations ,"
Econometrica ,
Econometric Society, vol. 48(5), pages 1305-11, July.
[Downloadable!] (restricted)
Jeffrey R. Campbell, 1997.
"Entry, Exit, Embodied Technology, and Business Cycles ,"
NBER Working Papers
5955, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
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