The full set of solutions of linear rational expectations models
刻画了线性理性预期模型的不确定性维度,并推导出全部解集,修正了Lubik和Schorfheide(2003)中部分均衡被错误归类为不确定的问题。
This article characterises the dimension of indeterminacy of linear rational expectations (LRE) models and derives their full set of solutions. It extends the analysis of indeterminate equilibria in Lubik and Schorfheide (2003) where some equilibria are incorrectly classified as indeterminate even though they entail the same observable outcome.