Hi,
I am doing optimal policy exercise in a New Keynesian model. I would like to impose zlb on nominal interest rate while optimising the other policy instruments (for example, asset purchases, and the other instruments follow optimal rule). I was wondering if there are procedures that combine ZLB with second order approximation to evaluate welfare. If so is there a matlab or dynare available?
Thank you!
Best wishes,
Xiaoshan
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ZLB + Second order approximation
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ZLB + Second order approximation
by xiaoshan » Mon Dec 05, 2016 3:02 pm
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Re: ZLB + Second order approximation
by jpfeifer » Mon Dec 05, 2016 7:09 pm
No, there is no generic routine available for this that I would be aware of.
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