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Blanchard and Kahn's (1980) Solution for a Linear Rational Expectations Model with One State Variable and One Jump Variable: The Correct Formula
Author(s) -
Kollmann Robert,
Zeugner Stefan
Publication year - 2018
Publication title -
the manchester school
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.361
H-Index - 42
eISSN - 1467-9957
pISSN - 1463-6786
DOI - 10.1111/manc.12180
Subject(s) - rational expectations , variable (mathematics) , jump , economics , state variable , mathematical economics , mathematics , linear model , state (computer science) , econometrics , statistics , mathematical analysis , physics , thermodynamics , algorithm , quantum mechanics
This note corrects Blanchard and Kahn's (1980) formula for the solution of a linear dynamic rational expectations model with one predetermined and one non‐predetermined endogenous variable.
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