Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/56743 
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dc.contributor.authorLan, Hongen
dc.contributor.authorMeyer-Gohde, Alexanderen
dc.date.accessioned2012-02-16-
dc.date.accessioned2012-04-05T16:21:33Z-
dc.date.available2012-04-05T16:21:33Z-
dc.date.issued2012-
dc.identifier.urihttp://hdl.handle.net/10419/56743-
dc.description.abstractWe prove that standard regularity and saddle stability assumptions for linear approximations are sufficient to guarantee the existence of a unique solution for all undetermined coefficients of nonlinear perturbations of arbitrary order to discrete time DSGE models. We derive the perturbation using a matrix calculus that preserves linear algebraic structures to arbitrary orders of derivatives, enabling the direct application of theorems from matrix analysis to prove our main result. As a consequence, we provide insight into several invertibility assumptions from linear solution methods, prove that the local solution is independent of terms first order in the perturbation parameter, and relax the assumptions needed for the local existence theorem of perturbation solutions.en
dc.language.isoengen
dc.publisher|aHumboldt University of Berlin, Collaborative Research Center 649 - Economic Risk |cBerlinen
dc.relation.ispartofseries|aSFB 649 Discussion Paper |x2012-015en
dc.subject.jelC61en
dc.subject.jelC63en
dc.subject.jelE17en
dc.subject.ddc330en
dc.subject.keywordperturbationen
dc.subject.keywordmatrix calculusen
dc.subject.keywordDSGEen
dc.subject.keywordsolution methodsen
dc.subject.keywordBézout theoremen
dc.subject.keywordSylvester equationsen
dc.subject.stwDynamisches Gleichgewichten
dc.subject.stwMatrizenrechnungen
dc.subject.stwTheorieen
dc.titleExistence and uniqueness of perturbation solutions to DSGE models-
dc.typeWorking Paperen
dc.identifier.ppn68553572Xen
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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