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来源类型Working Paper
规范类型报告
DOI10.3386/w18323
来源IDWorking Paper 18323
A Continuity Refinement for Rational Expectations Solutions
Bennett T. McCallum
发表日期2012-08-17
出版年2012
语种英语
摘要Linear RE models typically possess a multiplicity of solutions. Consider, however, the requirement that the solution coefficients must not be infinitely discontinuous in the model's structural parameters. In particular, we require that the solutions should be continuous in the limit as those parameters, which express quantitatively the extent to which expectations affect endogenous variables, go to zero. The paper shows that under this condition there is, for a very broad class of linear RE models, only a single solution.
主题Econometrics ; Microeconomics ; Mathematical Tools
URLhttps://www.nber.org/papers/w18323
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/575996
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GB/T 7714
Bennett T. McCallum. A Continuity Refinement for Rational Expectations Solutions. 2012.
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