Commit 70ceff56 authored by Sébastien Villemot's avatar Sébastien Villemot

More modifications for 2019

parent c7160a40
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......@@ -259,11 +259,11 @@ f(\bar y, \bar y, \bar y, \bar u) = 0
\end{frame}
\begin{frame}{Approximating infinite horizon problems}
\begin{frame}{Approximating infinite-horizon problems}
\begin{itemize}
\item The above technique numerically computes trajectories for given shocks over a
\emph{finite} number of periods
\item Suppose you are rather interested in solving an \emph{infinite} horizon
\item Suppose you are rather interested in solving an \emph{infinite}-horizon
problem
\item One option consists in computing the recursive policy function (as with
perturbation methods), but this is challenging
......@@ -275,13 +275,13 @@ f(\bar y, \bar y, \bar y, \bar u) = 0
projection method would still be needed
\item in any case, Dynare does not do that
\end{itemize}
\item An easier solution, in the case of a return to equilibrium, is to
approximate it by a finite horizon problem
\item An easier way, in the case of a return to equilibrium, is to
approximate the solution by a finite-horizon problem
\begin{itemize}
\item consists in computing the trajectory with $y_{T+1}=\bar y$ and $T$
large enough
\item drawback compared to the policy function approach: the
solution is specific to a given sequence of shock, and not generic
solution is specific to a given sequence of shocks, and not generic
\end{itemize}
\end{itemize}
\end{frame}
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......@@ -10,7 +10,7 @@
\title{Zero lower bound in a New Keynesian model}
\author{Sébastien Villemot}
\date{June 12, 2018}
\date{June 4, 2019}
\maketitle
\begin{enumerate}
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