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Creator: Bental, Benjamin Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 103 Keyword: Overlapping generations, Schauder's theorem, Fixed point theorem, and Equilibrium Subject (JEL): D58 - Computable and Other Applied General Equilibrium Models and C68 - Computable General Equilibrium Models -
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Creator: Saracoglu, Rusdu Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 070 Keyword: Rational expectations theory Subject (JEL): D59 - General Equilibrium and Disequilibrium: Other -
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Creator: Anderson, Paul A. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 061 Abstract: This paper puts forward a method for simulating an existing macroeconometric model while maintaining the additional assumption that individuals form their expectations rationally. This simulation technique is a first response to Lucas' criticism that standard econometric policy evaluation allows policy rules to change but doesn't allow expectations rules to change as economic theory predicts they will. The technique is applied to a version of the St. Louis Federal Reserve Model with interesting results. The rational expectations version of the St. Louis Model exhibits the same neutrality with respect to certain policy rules as small, analytic rational expectations models considered by Lucas, Sargent, and Wallace.
Keyword: Forecasting, Rational expectations theory, and Simulation Subject (JEL): C53 - Forecasting Models; Simulation Methods -
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Creator: Sargent, Thomas J. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 066 Keyword: Random variables, Business cycles, and Difference equations Subject (JEL): E37 - Prices, Business Fluctuations, and Cycles: Forecasting and Simulation: Models and Applications -
Creator: Sargent, Thomas J. and Sims, Christopher A. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 055 Description: Paper prepared for seminar on New Methods in Business Cycle Research, Federal Reserve Bank of Minneapolis, November 13-14, 1975.
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