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Bonn Graduate School of Economics (BGSE), Universität Bonn >
Bonn Econ Discussion Papers, Bonn Graduate School of Economics (BGSE), Universität Bonn >
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http://hdl.handle.net/10419/22873
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| Title: | | Gains from second-order approximations  |
| Authors: | | Paustian, Matthias |
| Issue Date: | | 2003 |
| Series/Report no.: | | Bonn econ discussion papers 2003,25 |
| Abstract: | | The benefit from using second-order approximations to stochastic dynamic rational expectations models is explained. By example of the neoclassical growth model, this note assesses the accuracy of the obtained approximation. The implications for optimal policy are discussed. |
| Subjects: | | Second-order approximation accuracy optimal policy |
| JEL: | | C63 E0 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Bonn Econ Discussion Papers, Bonn Graduate School of Economics (BGSE), Universität Bonn
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