Solving and simulating unbalanced growth models using linearization about the current state

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• 作者：Kerk L. Phillips ^{kerk_phillips@byu.edu}
• 关键词：C63 ; C68 ; E37
• 刊名：Economics Letters
• 出版年：2017
• 出版时间：February 2017
• 年：2017
• 卷：151
• 期：Complete
• 页码：35-38
• 全文大小：423 K
• 卷排序：151

文摘

We detail a method of solving and simulating DSGE models which is more accurate than the traditional method of linearizing about the steady state. Our method takes longer, but is able to sole and simulate unbalanced growth models which cannot be solved using any other current method. While the execution time is longer it is not prohibitively so, and the results are much more accurate, at least when measured by Euler errors.