Solving linear rational expectations models in the presence of structural change: Some extensions
本文扩展了线性理性预期模型在结构变化下的求解方法，处理了政策改革不完全可信、延迟公告和终端解不确定等情形，并用新凯恩斯模型等例子说明。
Standard solution methods for linear rational expectations models assume a time-invariant structure. Recent work has gone beyond this by formulating solution methods for linear rational expectations models subject to structural changes, such as parameter shifts and policy reforms, that are announced in advance. This paper contributes to this literature by presenting solutions for some cases – imperfectly credible policy reforms; delayed announcement to some fraction of agents; and indeterminacy of the terminal solution (multiple equilibria) – that received little attention so far. These solutions are illustrated using several applications, including a New Keynesian model in which the Taylor principle is not satisfied by the terminal structure.