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Title:Gains from second-order approximations PDF Logo
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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