The Full Set of Solutions of Linear Rational Expectations Models

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Funovits , B 2017 , ' The Full Set of Solutions of Linear Rational Expectations Models ' , Economics Letters , vol. 161 , pp. 47-51 . https://doi.org/10.1016/j.econlet.2017.09.021

Title: The Full Set of Solutions of Linear Rational Expectations Models
Author: Funovits, Bernd
Contributor: University of Helsinki, Department of Political and Economic Studies (2010-2017)
Date: 2017-09-18
Language: eng
Number of pages: 5
Belongs to series: Economics Letters
ISSN: 0165-1765
URI: http://hdl.handle.net/10138/225312
Abstract: This article characterises the dimension of indeterminacy of linear rational expectations (LRE) models and derives their full set of solutions. It extends the analysis of indeterminate equilibria in Lubik and Schorfheide (2003) where some equilibria are incorrectly classified as indeterminate even though they entail the same observable outcome.
Subject: 511 Economics
Rational expectations
Indeterminacy
Full set of solutions
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