Solving Large Scale Rational Expectations Models
Jess Gaspar and
Kenneth Judd
No 207, NBER Technical Working Papers from National Bureau of Economic Research, Inc
Abstract:
We explore alternative approaches to numerical solutions of large rational expectations models. We discuss and compare several current alternatives, focussing on the tradeoffs in accuracy, space, and speed. The models range from representative agent models with many goods and capital stocks, to models of heterogeneous agents with complete or incomplete asset markets. The methods discussed include perturbation and projection methods. We show that these methods are capable of analyzing moderately large models even when we use only elementary, general purpose numerical methods.
JEL-codes: C68 (search for similar items in EconPapers)
Date: 1997-02
Note: PE
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Citations: View citations in EconPapers (82)
Published as Gaspar, Jess and Kenneth L. Judd. "Solving Large-Scale Rational-Expectations Models," Macroeconomic Dynamics, 1997, v1(1,Jan), 45-75.
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Journal Article: SOLVING LARGE-SCALE RATIONAL-EXPECTATIONS MODELS (1997) 
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