#3074. Optimal policy design in nonlinear DSGE models: An n-order accurate approximation

November 2026publication date
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Journal’s subject area:
Finance;
Economics and Econometrics;
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Abstract:
The article analyzes the n-order approximation of the optimal policy for a wide class of nonlinear DSGE models. The results show how the curvature of preferences and constraints can affect the optimal policy, resulting in a solution with n-order precision rather than only first-order precision.
Keywords:
(n, n+1) approximation; Linear–Quadratic approximation; Nonlinear dynamics; Optimal monetary policy; Optimal Ramsey policy

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