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Smart Forward Shooting

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  • Manoj Atolia

    ()

  • Edward Buffie

    ()

Abstract

In this paper we develop a set of innovative forward-shooting algorithms that solve for the global nonlinear saddle path in models with 1-3 jump variables. Exploiting the fact that the algorithms are mechanical and model-free, we have placed canned, fully-automated programs in the public domain. The programs do not require any substantive human input. The user’s only responsibility is to type in the equations of the model correctly.

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File URL: http://hdl.handle.net/10.1007/s10614-008-9146-2
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Bibliographic Info

Article provided by Society for Computational Economics in its journal Computational Economics.

Volume (Year): 33 (2009)
Issue (Month): 1 (February)
Pages: 1-30

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Handle: RePEc:kap:compec:v:33:y:2009:i:1:p:1-30

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Web page: http://www.springerlink.com/link.asp?id=100248
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Related research

Keywords: Forward shooting; Automated programs; Global saddle path; F41; C61; C63;

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References

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  1. Manoj Atolia & Edward F. Buffie, 2004. "Reverse Shooting Made Easy: Solving for the Global Nonlinear Saddle Path," Working Papers, Department of Economics, Florida State University wp2009_01_01, Department of Economics, Florida State University, revised Jan 2009.
  2. Brunner, Martin & Strulik, Holger, 2002. "Solution of perfect foresight saddlepoint problems: a simple method and applications," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 26(5), pages 737-753, May.
  3. Mercenier, Jean & Michel, Philippe, 1994. "Discrete-Time Finite Horizon Appromixation of Infinite Horizon Optimization Problems with Steady-State Invariance," Econometrica, Econometric Society, Econometric Society, vol. 62(3), pages 635-56, May.
  4. Ric Herbert & Peter Stemp, 2003. "Exploiting Model Structure to Solve the Dynamics of a Macro Model," Computational Economics, Society for Computational Economics, Society for Computational Economics, vol. 21(3), pages 203-207, June.
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Cited by:
  1. Atolia, Manoj & Chatterjee, Santanu & Turnovsky, Stephen J., 2012. "Growth and inequality: Dependence on the time path of productivity increases (and other structural changes)," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 36(3), pages 331-348.
  2. Atolia, Manoj & Chatterjee, Santanu & Turnovsky, Stephen J., 2010. "How misleading is linearization? Evaluating the dynamics of the neoclassical growth model," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 34(9), pages 1550-1571, September.
  3. Manoj Atolia & Edward F. Buffie, 2004. "Reverse Shooting Made Easy: Solving for the Global Nonlinear Saddle Path," Working Papers, Department of Economics, Florida State University wp2009_01_01, Department of Economics, Florida State University, revised Jan 2009.

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