### More modifications for 2019

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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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