Cover image for Linear Rational Expectations Models : A User's Guide.
Linear Rational Expectations Models : A User's Guide.
Title:
Linear Rational Expectations Models : A User's Guide.
Author:
Whiteman, Charles H.
ISBN:
9780816655250
Personal Author:
Physical Description:
1 online resource (150 pages)
Contents:
Contents -- Preface -- CHAPTER I: MOVING AVERAGE REPRESENTATIONS FOR SCALAR RATIONAL EXPECTATIONS MODELS -- 1. The First Order Case -- 2. The Second Order Case -- 3. The n[sup(th)] Order Case -- 4. Bivariate Representations -- 5. Perturbed Equations -- 6. Withholding Equations -- Conclusion -- CHAPTER II: SOLUTION TECHNIQUES FOR RATIONAL EXPECTATIONS MODELS: A CRITICAL REVIEW -- 1. A Benchmark Solution Technique -- 2. Time Domain: Moving Averages -- 3. Time Domain: Autoregressions -- 4. Forward and Backward Solutions -- 5. Operator Techniques -- 6. The Saracoglu-Sargent Technique -- Conclusion -- CHAPTER III: CONFRONTING NONUNIQUENESS IN RATIONAL EXPECTATIONS MODELS -- 1. A Simple Expectational Difference Equation: Parametric Nonuniqueness -- 2. The "Leading Indicator" Problem -- 3. The Minimum Variance Condition -- 4. The Minimum State Variable Technique -- 5. A Restrictive Solution Concept -- Conclusion -- CHAPTER IV: MOVING AVERAGE REPRESENTATIONS FOR MULTIVARIATE RATIONAL EXPECTATIONS MODELS -- 1. An Existence and Uniqueness Theorem -- 2. An Extension -- Conclusion -- Appendix -- CHAPTER V: A SET OF OPTIMIZATION EXAMPLES -- 1. The Model -- 2. Perfectly Elastic Supply and Demand -- 3. Inelastic Demand -- Perfectly Elastic Supply -- 4. Feedback from Decisions to States -- Conclusion -- References -- Author Index -- A -- B -- C -- D -- E -- F -- G -- H -- J -- K -- L -- M -- N -- P -- R -- S -- T -- V -- W -- Subject Index -- A -- B -- C -- D -- E -- F -- G -- H -- I -- L -- M -- N -- O -- P -- R -- S -- T -- U -- W -- Z.
Abstract:
Linear Rational Expectations Models was first published in 1983. The assumption that agents respond rationally to changes in their economic environment introduces complicated restrictions among equations of the economic model. So far, the technical problems created by those restrictions have made building a rational expectations model of the economy an awkward and difficult task. Here Charles H. Whiteman analyzes a variety of methods that have been proposed for solving those equation systems and offers a new and simpler technique.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
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