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Solving the multi-country Real Business Cycle model using a perturbation method
- Authors
- Kollmann, Robert; Kim, Jinill; Kim, Sunghyun H.
- Issue Date
- 2월-2011
- Publisher
- ELSEVIER SCIENCE BV
- Keywords
- First- and second-order perturbation method; Real Business Cycle model
- Citation
- JOURNAL OF ECONOMIC DYNAMICS & CONTROL, v.35, no.2, pp.203 - 206
- Indexed
- SSCI
SCOPUS
- Journal Title
- JOURNAL OF ECONOMIC DYNAMICS & CONTROL
- Volume
- 35
- Number
- 2
- Start Page
- 203
- End Page
- 206
- ISSN
- 0165-1889
- Abstract
- This paper solves the multi-country RBC model described in den Haan et al. (this issue) and Juillard and Villemot (this issue), using a perturbation method. We explain how to apply first- and second-order versions of the gensys2.m algorithm to this model. The perturbation method is computationally cheap and can easily be applied to large models with possibly hundreds of state variables. (C) 2010 Elsevier B.V. All rights reserved.
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