Log-linear approximation versus an exact solution at the ZLB in the New Keynesian model

DOI10.1016/j.jedc.2018.09.011zbMath1425.91315OpenAlexW2546477256MaRDI QIDQ2338384

S. R. Singh, Gauti B. Eggertsson

Publication date: 21 November 2019

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: http://www.nber.org/papers/w22784.pdf

zbMATH Keywords

nonlinearitiesliquidity trapzero lower boundCalvo price setting

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

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Cites Work

• E-stability vis-a-vis determinacy results for a broad class of linear rational expectations models
• Nonlinear adventures at the zero lower bound
• The Solution of Linear Difference Models under Rational Expectations
• Fiscal Policy in an Expectations-Driven Liquidity Trap
• Macroeconomic Dynamics Near the ZLB: A Tale of Two Countries
• Lower Bounds on Approximation Errors to Numerical Solutions of Dynamic Economic Models

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