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On the backward-forward procedure

Gouriéroux, Christian; Laffont, Jean-Jacques; Montfort, A. (1980), On the backward-forward procedure, Economics Letters, 5, 3, p. 215-217. http://dx.doi.org/10.1016/0165-1765(80)90033-6

Type
Article accepté pour publication ou publié
Date
1980
Journal name
Economics Letters
Volume
5
Number
3
Publisher
Elsevier
Pages
215-217
Publication identifier
Metadata
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Author(s)
Gouriéroux, Christian
Laffont, Jean-Jacques
Montfort, A.
Abstract (EN)
It is shown that backward-forward procedure which selects solutions in dynamic models with rational expectations may fail to give a solution when the lags are of order two.
Subjects / Keywords
Inflation; Dynamic Analysis; forward–backward algorithm
JEL
C61 - Optimization Techniques; Programming Models; Dynamic Analysis
E31 - Price Level; Inflation; Deflation