A transparent approach to solving linear rational expectation models
提出一种简单迭代方法（时间迭代）求解线性理性预期模型，证明其收敛到稳定解，并给出解唯一的条件。该方法透明易实现，适用于含体制转换或偶尔约束（如零下限）的模型。
Abstract This paper proposes a simple iterative method—time iteration—to solve linear rational expectation models. I prove that this method converges to the desired stable solution, and provide the conditions under which the solution is unique. Apart from its transparency and simplicity of implementation, the method provides a straightforward approach to solving models with less standard features, such as regime‐switching frameworks in which constraints may occasionally bind—for example, the zero lower bound.