logo
CanyamAI summaries for academic research
language
MobileMobile
  • Phone FeatureWeChat Mini Program
EnglishEnglish
noticeNotice
BlogBlog
delete
arrow
Return

ACCURACY IN SIMULATIONS

delete1994-01-01
delete83
PRE
AI
D
DENHAAN, WJ *
A
Albert Marcet
DOI：10.2307/2297873delete
deleteOriginal
deleteOriginal request for help
deleteShare
deleteSave
Abstract

Abstract

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.
Keywords:
MODEL
EXPECTATIONS
UNCERTAINTY
GROWTH
AI Summary

AI Summary

Key information extracted from the uploaded paper, including a brief overview, abstract, background, key highlights, visual analysis, and future outlook.

Journal

Review of Economic Studies cover
Review of Economic Studies
IF:
6.4
Papers:
2.5K
Citations:
2.1W

Organization

No organization information available