000			01654nam a22002537a 4500
003			ZW-GwMSU
005			20240509140716.0
008			240509b |||||||| |||| 00| 0 eng d
022			_a10168737
040			_aMSU _bEnglish _cMSU _erda
050	0	0	_aHB1A1 INT
100	1		_aGuler, Bulent _eauthor
245	1	0	_aEuler equation approach for emerging-market macro models
264	1		_aAbingdon: _bTaylor and Francis, _c2013
336			_2rdacontent _atext _btxt
337			_2rdamedia _aunmediated _bn
338			_2rdacarrier _avolume _bnc
440			_aInternational economic journal _vVolume 27, number 2
520	3		_aThis paper focuses on how to obtain numerical solutions to emerging-market DSGE models with occasionally binding constraints by using the Euler equation, rather than using value functions of households. The main point is that the Euler-equation approach works in a fast and simple way for a variety of recent emerging-market macro models. An important reason behind this point is that it is relatively easy to pin down the functional form of aggregate equilibrium conditions in these models. The time-iteration method is applied to Euler equations of a small open-economy with overborrowings. It is discussed how to use the Euler equation approach to recent models of sovereign debt and to show that the presence of the Laffer-curve of debt-revenues leads us to use the piecewise parameterized-expectations approach.
650			_aEuler equation appraoch _vTime-iteration method _xParameterized expectations approach
700	1		_aYun, Tack _eco-author
856			_uhttps://doi.org/10.1080/10168737.2013.796111
942			_2lcc _cJA
999			_c165404 _d165404