Review of Solution and Estimation Methods for Nonlinear Dynamic Stochastic General Equilibrium Models with the Zero Lower Bound

Yasuo Hirose, Takeki Sunakawa

研究成果: Article査読

抄録

We review solution and estimation methods for nonlinear dynamic stochastic general equilibrium models and their application, with a special focus on the zero lower bound on the nominal interest rate. In a fully nonlinear setting, both the solution and estimation methods involve iterative procedures, and their computational expense grows rapidly with an increase in the dimensionality of state variables and parameters. We describe how the procedures deal with the dimensionality problem.

本文言語English
ページ(範囲)51-104
ページ数54
ジャーナルJapanese Economic Review
70
1
DOI
出版ステータスPublished - 2019 3

ASJC Scopus subject areas

  • Economics and Econometrics

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