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ACCURACY IN SIMULATIONS

delete1994-01-01
delete83
PRE
AI
D
DENHAAN, WJ *
A
Albert Marcet
DOI:10.2307/2297873delete
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摘要

摘要

En 中文
Since the actual solution to intertemporal rational expectations models is usually not known, it is useful to have criteria for judging the accuracy of a given numerical solution. In this paper we propose a test for accuracy that is easy to implement and can be applied to a wide class of models without knowledge of the exact solution. We discuss the power of the test by simulating several models with the linear-quadratic approximation and with the method of parameterized expectations. We conclude that the test is powerful.
Keyword:
MODEL
EXPECTATIONS
UNCERTAINTY
GROWTH
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期刊

Review of Economic Studies 封面图
Review of Economic Studies
IF:
6.4
论文数:
2.5K
被引数:
2.1W

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