Dear all,
which alghoritm is used to compute optimal simple rules in Dynare?
Is that of Dennis, R. (2004): Solving for optimal simplerule s in rational expectations models???
Thank you.
Jan
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Optimal simple rule - which algorithm?
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Optimal simple rule - which algorithm?
by flumas22 » Wed Nov 19, 2014 6:35 am
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Re: Optimal simple rule - which algorithm?
by jpfeifer » Sat Dec 06, 2014 10:49 am
Not exactly. The algorithm is documented in detail in the manual. It differs from the ones in Dennis (2004) as the objective function is different. Dennis uses a discounted sum of squares while Dynare does use the unconditional expectations.
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