Endogenous Persistence in an estimated DSGE Model Under Imperfect Information
Levine, P., Pearlman, J., Perendia, G., Yang, B
June 2012
The Economic Journal, 122: 1287-1312
Dynamic Stochastic General Equilibrium (DSGE)
Two New Keynesian models: within the conventional rational expectations framework but relaxes the extreme perfect information assumption for the private sector; the second behavioral model encompasses the first and allows a proportion of agents to form expectations in an adaptive fashion
(not finished)
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