Analytic Policy Function Iteration

2019 ◽  
Author(s):  
Zhao Han ◽  
Fei Tan ◽  
Jieran Wu
Keyword(s):  
Policy Function

MONETARY POLICY SWITCHING IN THE EURO AREA AND MULTIPLE STEADY STATES: AN EMPIRICAL INVESTIGATION

2016 ◽  
Vol 21 (5) ◽  
pp. 1175-1188 ◽  
Author(s):  
Gilles Dufrénot ◽  
Guillaume A. Khayat
Keyword(s):  
Steady State ◽  
Euro Area ◽  
European Central Bank ◽  
Empirical Investigation ◽  
Standard Assumption ◽  
Demand Shock ◽  
Liquidity Trap ◽  
European Central ◽  
Parameter Values ◽  
Policy Function

This paper investigates, in the case of the euro area, the standard assumption that the liquidity trap steady state, which arises from the existence of the zero lower bound on the nominal interest rate, is locally unstable. We show that the policy function of the European Central Bank (ECB) is described by a nonlinear Taylor rule. Then, using our estimations, we show that around the liquidity trap steady state the equilibrium is locally determinate for most plausible parameter values. Finally, we find that an inflation shock is more efficient than a demand shock to escape the liquidity trap steady state.

Analytic Policy Function Iteration

2021 ◽  
pp. 105395
Author(s):  
Zhao Han ◽  
Fei Tan ◽  
Jieran Wu
Keyword(s):  
Policy Function

Accuracy of policy function approximations for strongly concave recursive problems

2018 ◽  
Vol 15 (3) ◽  
pp. 249-267
Author(s):  
Wilfredo L. Maldonado ◽  
Osvaldo Candido ◽  
Luis Felipe V. N. Pereira
Keyword(s):  
Function Approximations ◽  
Policy Function

The Once But Not Twice Differentiability of the Policy Function

Econometrica ◽  
1991 ◽  
Vol 59 (5) ◽  
pp. 1383 ◽  
Author(s):  
A. Araujo
Keyword(s):  
Policy Function

Framing and Translating Expertise for Government

2019 ◽  
pp. 1131-1152
Author(s):  
Gareth E. Conway ◽  
Julie Gore
Keyword(s):  
Research Gaps ◽  
Policy Interventions ◽  
Government Work ◽  
Over Time ◽  
Policy Function

Expertise is of great value within and for government, which seeks to influence complex situations through the use of complex policy interventions. The framing of expertise in government, however, is not immune to popular narratives that we are all experts now and that all perspectives on an issue are of equal value, irrespective of who proposes them. This chapter describes the nature of government work and its challenges; the overlap between expertise, evidence, and values; how expertise has been considered over time in government, and the difficulty in identifying who the expert is. We then reconsider whether expertise is under threat, and identify research gaps that if addressed would support the further professionalization of the policy function in government.

Accuracy, Speed and Robustness of Policy Function Iteration

2012 ◽  
Author(s):  
Alexander W. Richter ◽  
Nathaniel A. Throckmorton ◽  
Todd B. Walker
Keyword(s):  
Accuracy Speed ◽  
Policy Function

Foreign policy function of Russian trade union organizations in relation to domestic political processes in the Republic of Belarus in 2020

2020 ◽  
Vol 12 (151) ◽  
pp. 426-428
Author(s):  
M.E. ARСHIBASOV ◽  
◽  
V.A. ODINTSOV ◽  
Keyword(s):  
Foreign Policy ◽  
Trade Union ◽  
Political Processes ◽  
The Republic ◽  
Policy Function

scholarly journals A divide and conquer algorithm for exploiting policy function monotonicity

10.3982/qe640 ◽  
2018 ◽  
Vol 9 (2) ◽  
pp. 521-540 ◽  
Author(s):  
Grey Gordon ◽  
Shi Qiu
Keyword(s):  
Divide And Conquer ◽  
Divide And Conquer Algorithm ◽  
Policy Function
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