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来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w18323 |
来源ID | Working 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 |
URL | https://www.nber.org/papers/w18323 |
来源智库 | National Bureau of Economic Research (United States) |
引用统计 | |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575996 |
推荐引用方式 GB/T 7714 | Bennett T. McCallum. A Continuity Refinement for Rational Expectations Solutions. 2012. |
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文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
w18323.pdf(210KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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