SOLVING LINEAR RATIONAL EXPECTATIONS MODELS WITH PREDICTABLE STRUCTURAL CHANGES
成果类型：
Article
署名作者：
Cagliarini, Adam; Kulish, Mariano
署名单位：
Reserve Bank of Australia; University of New South Wales Sydney
刊物名称：
REVIEW OF ECONOMICS AND STATISTICS
ISSN/ISSBN：
0034-6535
DOI：
10.1162/REST_a_00240
发表日期：
2013-03
页码：
328-336
关键词：
摘要：
Standard solution methods for linear stochastic models with rational expectations presuppose a time-invariant structure. Consequently, credible announcements that entail future changes of the structure cannot be handled by standard solution methods. This paper develops the solution for linear stochastic rational expectations models in the face of a finite sequence of anticipated structural changes. These events encompass anticipated changes to the structural parameters and also anticipated additive shocks. We apply the solution to some examples of practical relevance to monetary policy.
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