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Solving Rational Expectations Models Using Excel

Holger Strulik ()

The Journal of Economic Education, 2004, vol. 35, issue 3, 269-283

Abstract: Simple problems of discrete-time optimal control can be solved using a standard spreadsheet software. The employed-solution method of backward iteration is intuitively understandable, does not require any programming skills, and is easy to implement so that it is suitable for classroom exercises with rational-expectations models. The author explains the method in general and shows how the basic models of neoclassical growth and real business cycles are solved using Microsoft Excel.

Date: 2004
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