Solutions of Linear Rational Expectations Models
提出一种全局方法，通过有限个修正过程完整描述线性理性预期模型的所有解，并给出平稳解集的自然参数化及独立参数个数，有助于研究者全面分析解的性质并选择最优解。
Linear rational expectations models generally have a large number of solutions. It is thus important to describe them exhaustively in order to study their properties and subsequently estimate which solution best fits the data. In this paper, a global approach is suggested allowing a simultaneous treatment of all possible cases. The fundamental concepts are the revision processes appearing in the procedure of updating expectations. It isfound that the set of solutions is completely described by using a limitednumber of these processes. We show how the method may be applied to determine the set of stationary solutions admitting an infinite moving-average representation. We give a natural parametrization of this set and discuss the exact number of independent parameters.