{"id":39996,"date":"2021-01-14T19:25:49","date_gmt":"2021-01-15T00:25:49","guid":{"rendered":"https:\/\/carleton.ca\/economics\/?p=39996"},"modified":"2025-06-11T09:08:57","modified_gmt":"2025-06-11T13:08:57","slug":"professor-dana-galizias-paper-accepted-in-quantitative-economics","status":"publish","type":"post","link":"https:\/\/carleton.ca\/economics\/2021\/professor-dana-galizias-paper-accepted-in-quantitative-economics\/","title":{"rendered":"Professor Dana Galizia\u2019s paper accepted in Quantitative Economics!"},"content":{"rendered":"\n<section class=\"w-screen px-6 cu-section cu-section--white ml-offset-center md:px-8 lg:px-14\">\n    <div class=\"space-y-6 cu-max-w-child-5xl  md:space-y-10 cu-prose-first-last\">\n\n            <div class=\"cu-textmedia flex flex-col lg:flex-row mx-auto gap-6 md:gap-10 my-6 md:my-12 first:mt-0 max-w-5xl\">\n        <div class=\"justify-start cu-textmedia-content cu-prose-first-last\" style=\"flex: 0 0 100%;\">\n            <header class=\"font-light prose-xl cu-pageheader md:prose-2xl cu-component-updated cu-prose-first-last\">\n                                    <h1 class=\"cu-prose-first-last font-semibold !mt-2 mb-4 md:mb-6 relative after:absolute after:h-px after:bottom-0 after:bg-cu-red after:left-px text-3xl md:text-4xl lg:text-5xl lg:leading-[3.5rem] pb-5 after:w-10 text-cu-black-700 not-prose\">\n                        Professor Dana Galizia\u2019s paper accepted in Quantitative Economics!\n                    <\/h1>\n                \n                                \n                            <\/header>\n\n                    <\/div>\n\n            <\/div>\n\n    <\/div>\n<\/section>\n\n<p>Congratulations to<a href=\"https:\/\/carleton.ca\/economics\/people\/galizia-dana\/\"> Professor Dana Galizia<\/a>! His paper titled &#8220;Saddle Cycles: Solving Rational Expectations Models Featuring Limit Cycles (or Chaos) Using Perturbation Methods\u201d has been accepted for publication in <i>Quantitative Economics<\/i> \u2013&nbsp; a leading peer-reviewed economics journal aimed at empirical research that is rigorously informed by econometrics and\/or economic theory.<\/p>\n\n\n\n<p><strong>Abstract<\/strong><\/p>\n\n\n\n<p>Unlike linear ones, non-linear business cycle models can generate sustained fluctuations even in the absence of shocks (e.g., via limit cycles\/chaos). A popular approach to solving non-linear models is perturbation methods. I show that, as typically implemented, these methods are incapable of finding solutions featuring limit cycles or chaos. Fundamentally, solutions are only required not to explode, while standard perturbation algorithms seek solutions that meet the stronger requirement of convergence to the steady state. I propose a modification to standard algorithms that does not impose this overly strong requirement.<\/p>\n\n\n\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Congratulations to Professor Dana Galizia! His paper titled &#8220;Saddle Cycles: Solving Rational Expectations Models Featuring Limit Cycles (or Chaos) Using Perturbation Methods\u201d has been accepted for publication in Quantitative Economics \u2013&nbsp; a leading peer-reviewed economics journal aimed at empirical research that is rigorously informed by econometrics and\/or economic theory. Abstract Unlike linear ones, non-linear business [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":35089,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-39996","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":{"cu_post_thumbnail":""},"_links":{"self":[{"href":"https:\/\/carleton.ca\/economics\/wp-json\/wp\/v2\/posts\/39996","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/carleton.ca\/economics\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carleton.ca\/economics\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carleton.ca\/economics\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/carleton.ca\/economics\/wp-json\/wp\/v2\/comments?post=39996"}],"version-history":[{"count":1,"href":"https:\/\/carleton.ca\/economics\/wp-json\/wp\/v2\/posts\/39996\/revisions"}],"predecessor-version":[{"id":39997,"href":"https:\/\/carleton.ca\/economics\/wp-json\/wp\/v2\/posts\/39996\/revisions\/39997"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/carleton.ca\/economics\/wp-json\/wp\/v2\/media\/35089"}],"wp:attachment":[{"href":"https:\/\/carleton.ca\/economics\/wp-json\/wp\/v2\/media?parent=39996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carleton.ca\/economics\/wp-json\/wp\/v2\/categories?post=39996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carleton.ca\/economics\/wp-json\/wp\/v2\/tags?post=39996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}