Nonlinear Rational Expectations Modeling Group | Federal Reserve Bank of Minneapolis

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 Christiano, Terry 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.