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

抜粋

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.

元の言語English
ジャーナルJapanese Economic Review
DOI
出版物ステータスAccepted/In press - 2019 1 1

ASJC Scopus subject areas

  • Economics and Econometrics

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