Minimal state variable solutions to Markov-switching rational expectations models
نویسندگان
چکیده
منابع مشابه
Minimal State Variable Solutions to Markov-Switching Rational Expectations Models
We develop a new method for deriving minimal state variable (MSV) equilibria of a general class of Markov switching rational expectations models and a new algorithm for computing these equilibria. We compare our approach to previously known algorithms, and we demonstrate that ours is both efficient and more reliable than previous methods in the sense that it is able to find MSV equilibria that ...
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ژورنال
عنوان ژورنال: Journal of Economic Dynamics and Control
سال: 2011
ISSN: 0165-1889
DOI: 10.1016/j.jedc.2011.08.005