Reverse Shooting Made Easy: Solving for the Global Nonlinear Saddle Path
AbstractWe present the blueprints for a set of innovative reverse shooting algorithms that trap the global saddle path in systems with 2-4 state variables. The solution procedure is built around a new distance mapping and refined simplex algorithms. Since the algorithms are completely reliable and always work in the same way, we have been able to develop canned programs that solve for the global nonlinear saddle path in any model with 2-4 state variables. The programs are written in the spirit of plug and play: the user types in the equations of the model and then waits for the solution.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Department of Economics, Florida State University in its series Working Papers with number wp2009_01_01.
Date of creation: Aug 2004
Date of revision: Jan 2009
Find related papers by JEL classification:
- C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Herbert, Ric D. & Stemp, Peter J. & Griffiths, William E., 2005. "Assessing two common approaches for solving models with saddle-path instabilities," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 69(1), pages 78-89.
- Manoj Atolia & Edward Buffie, 2009.
"Smart Forward Shooting,"
Society for Computational Economics, vol. 33(1), pages 1-30, February.
- Judd, Kenneth L., 2002. "The parametric path method: an alternative to Fair-Taylor and L-B-J for solving perfect foresight models," Journal of Economic Dynamics and Control, Elsevier, vol. 26(9-10), pages 1557-1583, August.
- Mercenier, Jean & Michel, Philippe, 1994. "Discrete-Time Finite Horizon Appromixation of Infinite Horizon Optimization Problems with Steady-State Invariance," Econometrica, Econometric Society, vol. 62(3), pages 635-56, May.
- Atolia, Manoj & Buffie, Edward F., 2011. "Solving The Unit Root Problem In Models With An Exogenous World Market Interest Rate," Macroeconomic Dynamics, Cambridge University Press, vol. 15(05), pages 681-712, November.
- Ric Herbert & Peter Stemp, 2003. "Exploiting Model Structure to Solve the Dynamics of a Macro Model," Computational Economics, Society for Computational Economics, vol. 21(3), pages 203-207, June.
- Brunner, Martin & Strulik, Holger, 2002.
"Solution of perfect foresight saddlepoint problems: a simple method and applications,"
Journal of Economic Dynamics and Control,
Elsevier, vol. 26(5), pages 737-753, May.
- Martin Brunner & Holger Strulik, 2002. "Code for "Solution of Perfect Foresight Sattlepoint Problems: A Simple Method and Applications"," QM&RBC Codes 93, Quantitative Macroeconomics & Real Business Cycles.
- Manoj Atolia & Santanu Chatterjee & Stephen Turnovsky, 2009.
"Growth and Inequality: Dependence on the Time Path of Productivity Increases (and other Structural Changes),"
UWEC-2009-23, University of Washington, Department of Economics.
- 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, vol. 36(3), pages 331-348.
- Manoj Atolia & Santanu Chatterjee & Stephen J. Turnovsky, 2009. "Growth and Inequality: Dependence of the Time Path of Productivity Increases (and other Structural Changes)," Working Papers wp2009_01_02, Department of Economics, Florida State University.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dmitry Ryvkin).
If references are entirely missing, you can add them using this form.