缅北强奸

础耻迟丑辞谤:听Malkhozov,听Aytek

笔耻产濒颈肠补迟颈辞苍:听Journal of Economic Dynamics and Control, Forthcoming

Abstract:

I describe a tractable way to study macroeconomic quantities and asset prices in a large class of dynamic stochastic general equilibrium models. The proposed approximate solution is analytical, log-linear, and adjusted for risk. Therefore, it is well suited to investigate economic mechanisms, describe the time series properties or estimate the model, and deal with stochastic volatility. I explain the pitfalls encountered by previous attempts to use simple approximation techniques, in particular with models featuring recursive preferences. Finally, I show the theoretical relationship between my solution and higher-order perturbation methods.