Terminal conditions as a means of ensuring unique solutions for rational expectations models with forward expectations

Minford, Anthony Patrick Leslie ORCID: https://orcid.org/0000-0003-2499-935X, Matthews, Kent Gerard Patrick ORCID: https://orcid.org/0000-0001-6968-3098 and Marwaha, S. 1979. Terminal conditions as a means of ensuring unique solutions for rational expectations models with forward expectations. Economics Letters 4 (2) , pp. 117-120. 10.1016/0165-1765(79)90219-2

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Abstract

Terminal conditions are imposed on rational expectations models as a means of finding a unique solution among a continuum of potential solutions. It is argued that using terminal conditions is superior to invoking stability. The method can be applied to non-linear as well as linear systems.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Business (Including Economics)
Subjects:	H Social Sciences > HC Economic History and Conditions H Social Sciences > HG Finance
Publisher:	Elsevier
ISSN:	0165-1765
Last Modified:	24 Oct 2022 11:45
URI:	https://orca.cardiff.ac.uk/id/eprint/49225

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