Solving the Dynamics of a Non-Linear Representative Agent Model
AbstractThis paper describes two alternative approaches (modified reverse shooting and forward shooting) for solving the time-path of a representative agent model following an exogenous shock. In particular, reverse shooting is demonstrably better for solving part of the model but must be modified before it can be used to solve the full model. On the other hand, an unmodified form of forward shooting can be used to solve both part and full models.
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Bibliographic InfoPaper provided by The University of Melbourne in its series Department of Economics - Working Papers Series with number 705.
Length: 6 pages
Date of creation: 1999
Date of revision:
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Postal: Department of Economics, The University of Melbourne, 5th Floor, Economics and Commerce Building, Victoria, 3010, Australia
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Web page: http://www.economics.unimelb.edu.au
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ECONOMIC MODELS ; DYNAMIC ANALYSIS ; ECONOMICS;
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