Weighted Residuals Methods

Burkhard Heer and Alfred Maußner ()
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Alfred Maußner: University of Augsburg

Chapter Chapter 5 in Dynamic General Equilibrium Modeling, 2024, pp 231-310 from Springer

Abstract: Abstract This chapter introduces readers to global methods, which, unlike local perturbation methods, draw on information from various points in the state space of a dynamic stochastic general equilibrium (DSGE) model. The methods presented here are interchangeably referred to as weighted residuals methods and projection methods. Applications cover the deterministic growth model, the benchmark business cycle model, a model with labor market frictions, and a disaster risk model driven by shocks that trigger infrequent but severe recessions.

Date: 2024
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DOI: 10.1007/978-3-031-51681-8_5

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