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• W1503596489 abstract "This paper presents a fast, simple and intuitive algorithm for simulation of linear dynamic stochastic general equilibrium models with inequality constraints. The algorithm handles both the computation of impulse responses, and stochastic simulation, and can deal with arbitrarily many bounded variables. To illustrate the usefulness and efficiency of this algorithm we provide two applications according to the zero lower bound (ZLB) on nominal interest rates. Our solution principle is much faster than comparable methods. We therefore expect this algorithm to be very helpful also for estimation procedures, and for a wide range of applications apart from monetary policy analysis." @default.
• W1503596489 created "2016-06-24" @default.
• W1503596489 creator A5048324575 @default.
• W1503596489 creator A5068859459 @default.
• W1503596489 date "2012-07-01" @default.
• W1503596489 modified "2023-10-02" @default.
• W1503596489 title "Efficient Simulation of DSGE Models with Inequality Constraints" @default.
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