Precision performances of terminal conditions for short time horizons forward-looking systems

Raouf Boucekkine (), Michel Juillard and Pierre Malgrange

UC3M Working papers. Economics from Universidad Carlos III de Madrid. Departamento de Economía

Abstract: In this paper, we investigate both theoretically and empirically the numerical bias due to the truncation of structurally infinite time forward-Iooking models, by the means of various terminal conditions. We shed light on the difficulties of numerical control using the latter instrurnents, and recornrnend a prior investigation of the individual dynamics generated by each variable of the models under consideration.

Keywords: Expectations; Large; scale; models; Solution; time; horizons; Terminal; conditions (search for similar items in EconPapers)
Date: 1995-05
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Precision Performances of Terminal Conditions for Short Time Horizons Forward-Looking Systems (1997)
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Persistent link: https://EconPapers.repec.org/RePEc:cte:werepe:3909

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