Invertible and non-invertible information sets in linear rational expectations models
نویسندگان
چکیده
منابع مشابه
Invertible and non-invertible information sets in linear rational expectations models∗
Rational expectations solutions are usually derived by assuming that all state variables relevant to forward-looking behaviour are directly observable, or that they are "...an invertible function of observables" (Mehra and Prescott, 1980). Using a framework that nests linearised DSGE models, we give a number of results useful for the analysis of linear rational expectations models with restrict...
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ژورنال
عنوان ژورنال: Journal of Economic Dynamics and Control
سال: 2011
ISSN: 0165-1889
DOI: 10.1016/j.jedc.2010.11.002