How to Get the Blanchard-Kahn Form from a General Linear Rational Expectations Model

Boucekkine, Raouf;Le Van, Cuong;Schubert, Katheline
(1996) , 14 pages

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Authors
  • Boucekkine, RaoufUniversidad Carlos III de Madrid
    Author
  • Le Van, CuongCNRS-CEPREMAP
    Author
  • Schubert, KathelineUniversité de Paris I
    Author
Abstract
In this paper we prove that every linear model with rational expectations can be transformed by means of an one-to-one mapping into another model which has one of the following properties: i) it is degenerated, ii) it is backward, iii) it has a Blanchard-Kahn form. In addition to some simple illustrations, we provide two applications on two nonlinear forward-looking economic models in order to show how to use our theoretical analysis for local stability assessement.
Affiliations
  • Universidad Carlos III de MadridDepartamento de economía
  • CNRS-CEPREMAP
  • Université de Paris I

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Boucekkine, R., Le Van, C., & Schubert, K. (1996). How to Get the Blanchard-Kahn Form from a General Linear Rational Expectations Model (Computing in economics and finance 1996-35). https://hdl.handle.net/2078.5/155489