Publication: Precision performances of terminal conditions for short time horizons forward-looking systems
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1995-05
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Abstract
In this paper, we investigate both theoretically and empirically the numerical bias due to the truncation of structurally infinite time forward-Iooking models, by the means of various terminal conditions. We shed light on the difficulties of numerical control using the latter instrurnents, and recornrnend a prior investigation of the individual dynamics generated by each variable of the models under consideration.
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Expectations, Large scale models, Solution time horizons, Terminal conditions