Solving Monetary (MIU) models with Linearized Euler Equations: Method of Undetermined Coefficients
International Journal of Research(2017)
摘要
This paper attempts to solve a benchmark money in utility model by first order Taylor approximation to the policy function. After a brief summary of recent development in first order Taylor approximation in solving dynamic stochastic general equilibrium models, we choose Sidrauski’s Money in utility model as a standard model and follow the approach proposed by Uhlig [1] to solve for the recursive law of motion at first order.
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关键词
dsge model,calibration,monetary models
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