### More modifications for 2019

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