Solving Dynamic Equilibrium Models by a Method of Undetermined Coefficients

Authors:
Lawrence J. Christiano
Affiliations:
Northwestern University, Federal Reserve Bank of Chicago, and NBER
Venue:
Computational Economics
Year:
2002

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Abstract

I present an undetermined coefficients method for obtaining a linearapproximating to the solution of a class of dynamic, rational expectationsmodels. I also show how that solution can be used to compute a model'simplications for impulse response functions and for second moments.