Solving dynamic general equilibrium models using a second-order approximation to the policy function

Article Abstract:

A second-order approximation to the solution of general class of discrete-time rational expectations model is derived. A set of MATLAB programs that implement the proposed second-order approximation method is also presented.

Forecasts, trends, outlooks, Economic Programs, Administration of Economic Programs, Analysis, Forecasts and trends, Economic policy, Market trend/market analysis

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Dynamic learning in a two-person experimental game

Article Abstract:

A model of learning about rival's behavior shows that its predictio ns support the Bayesian learning model. Decision-making exhibits a Nash equilibrium after sufficient choices.

Research and Development in the Physical, Engineering, and Life Sciences, Statistics, Usage, Bayesian statistical decision theory, Bayesian analysis, Learning, Economic forecasting, Game theory, Statistics (Mathematics), Teaching models

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Welfare costs of inflation in a dynamic economy with search unemployment

Article Abstract:

A US monetary general equilibrium model is developed and examined.

Management dynamics, Unemployment, Inflation Accounting, Methods, Management, Influence, Monetary policy, Company business management

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