Hi,
If I set a near unity .995 subjective discount factor beta for my preference, it says blanchard kahn condition violated.
But it works with a lower beta.
How can this be? What might be a solution if I need high beta like 0.995
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How can it be blanchard kahn condition depend on parameter
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How can it be blanchard kahn condition depend on parameter
by hewei2004 » Sun Feb 12, 2012 2:11 am
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