Linear-quadratic approximation of optimal policy problems

DOI10.1016/j.jet.2011.10.012zbMath1258.91134OpenAlexW2097565630MaRDI QIDQ665448

Michael Woodford, Pierpaolo Benigno

Publication date: 5 March 2012

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: http://www.nber.org/papers/w12672.pdf

zbMATH Keywords

perturbation methodspolicy rulestimeless perspective

Mathematics Subject Classification ID

Dynamic stochastic general equilibrium theory (91B51)

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Uses Software

• Duali
• DualPC

Cites Work

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• Solving dynamic general equilibrium models using a second-order approximation to the policy function
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• A local analysis of N-sector capital accumulation under uncertainty
• Optimal fiscal and monetary policy under sticky prices.
• The non-optimality of proposed monetary policy rules under timeless perspective commitment
• Linear-quadratic approximation, external habit and targeting rules
• Calculating and using second-order accurate solutions of discrete time dynamic equilibrium models
• OIL SHOCKS AND OPTIMAL MONETARY POLICY
• Optimal Monetary Policy
• Stochastic Control for Small Noise Intensities
• Asymptotic methods for asset market equilibrium analysis

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