Solving Nonlinear Rational Expectations Models: A Stochastic Equilibrium Model of Interest Rates
非线性理性预期模型的求解:利率的随机均衡模型
The authors introduce, in this paper, a method for solving nonlinear quadratic Pareto problems. The method provides the analyst with a set of time series realizations for the variables in the economy. By obtaining a large number of these realizations, they can approximate the empirical distributions of a variety of statistics, which will give a detailed description of the model's properties. In particular, those statistics can be compared with the similar ones obtained from…