Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/22873
Authors: 
Paustian, Matthias
Year of Publication: 
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

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