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Nonlinear Rational Expectations Modeling Group

September 30-October 1, 1988
Friday, September 30
8:45 a.m. Coffee
9:30 a.m. Presentation of new results on Problem 1
  To the extent that results have been submitted enough in advance on diskette as requested, they will first be summarized by Chris Sims. Then each participant will have a chance to add to the discussion, emphasizing what is new since the last meeting. New participants who did not have a chance to describe their solution methods at the last meeting will be given time to do so here.
11:00 a.m. Break
11:15 a.m. Discussion of John Taylor’s summary paper, both its substance and its prospects (journal submission? with or without companion pieces on methods?, etc.)
12:15 p.m. Lunch
1:15 p.m. Presentation of results on problems 2 and 3
  Same format as for Problem 1. Shorter time in expectation of few actual solutions.
2:00 p.m. Break
2:15 p.m. Papers I
  Wouter den Haan, Carnegie
The Optimal Inflation Path in a Sidrauski-type Model with Uncertainty
  Discussant: Larry Christiano
  Marianne Baxter, Rochester
Approximating Suboptimal Dynamic Equilibria: An Euler Equation Approach
  Discussant: Joe Gagnon
3:45 p.m. Break
4:00 p.m. Papers II
  Wilbur Coleman II, Federal Reserve (D.C.)
Money, Interest and Capital in a Cash-in-Advance Economy
  Discussant: George Tauchen
  Robert Hussey, Duke
Solving Nonlinear Rational Expectations Models With Asymmetric Adjustment Costs
  Discussant: David Marshall, Northwestern
5:30 p.m. Adjourn
6:30 p.m. Dinner
Saturday, October 1
9:30 a.m. Papers III
  George Tauchen, Duke
“Applications and Extensions of the Quadrature Method”
  Discussant: Marianne Baxter
  Larry ChristianoTerry Fitzgerald, Federal Reserve Minneapolis
“The Precautionary Motive for Holding Inventories in a Real Business Cycle Model”
  Discussant: Robert Hussey
11:00 a.m. Coffee, open discussion of plans for additional meetings and of the state of the art, until no later than noon.