RDP 2008-10: Solving Linear Rational Expectations Models with Predictable Structural Changes
Equation (15)
(
Λ
11
Λ
12
−
Φ
Λ
22
)
(
w
1
,
t
w
2
,
t
)
=
(
Ω
11
Ω
12
−
Φ
Ω
22
)
(
w
1
,
t
−
1
w
2
,
t
−
1
)
+
(
Q
1
−
Φ
Q
2
)
C
+
(
Q
1
−
Φ
Q
2
)
Ψ
ε
t
+
(
Q
1
Π
−
Φ
Q
2
Π
)
η
t
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