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Solving Non-Linear Models with Saddle-Path Instabilities

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  • Peter Stemp
  • Ric Herbert

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  • Peter Stemp & Ric Herbert, 2006. "Solving Non-Linear Models with Saddle-Path Instabilities," Computational Economics, Springer;Society for Computational Economics, vol. 28(2), pages 211-231, September.
    • Handle: RePEc:kap:compec:v:28:y:2006:i:2:p:211-231
    DOI: 10.1007/s10614-006-9042-6
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    1. Stephen J. Turnovsky, 1997. "International Macroeconomic Dynamics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262201119, December.
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    4. Blanchard, Olivier Jean & Kahn, Charles M, 1980. "The Solution of Linear Difference Models under Rational Expectations," Econometrica, Econometric Society, vol. 48(5), pages 1305-1311, July.
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    6. Azariadis, Costas & Bullard, James & Ohanian, Lee, 2004. "Trend-reverting fluctuations in the life-cycle model," Journal of Economic Theory, Elsevier, vol. 119(2), pages 334-356, December.
    7. Peter Kunkel & Oskar von dem Hagen, 2000. "Numerical Solution of Infinite-Horizon Optimal-Control Problems," Computational Economics, Springer;Society for Computational Economics, vol. 16(3), pages 189-205, December.
    8. Sims, Christopher A, 2002. "Solving Linear Rational Expectations Models," Computational Economics, Springer;Society for Computational Economics, vol. 20(1-2), pages 1-20, October.
    9. J. P. Gould, 1968. "Adjustment Costs in the Theory of Investment of the Firm," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 35(1), pages 47-55.
    10. Kenneth L. Judd, 1998. "Numerical Methods in Economics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262100711, December.
    11. Mahbub Morshed, A. K. M. & Turnovsky, Stephen J., 2004. "Sectoral adjustment costs and real exchange rate dynamics in a two-sector dependent economy," Journal of International Economics, Elsevier, vol. 63(1), pages 147-177, May.
    12. Menahem E. Yaari, 1965. "Uncertain Lifetime, Life Insurance, and the Theory of the Consumer," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 32(2), pages 137-150.
    13. Matsuyama, Kiminori, 1987. "Current account dynamics in a finite horizon model," Journal of International Economics, Elsevier, vol. 23(3-4), pages 299-313, November.
    14. Hayashi, Fumio, 1982. "Tobin's Marginal q and Average q: A Neoclassical Interpretation," Econometrica, Econometric Society, vol. 50(1), pages 213-224, January.
    15. Peter J. Stemp, 2005. "Finding an Example of an Optimising Agent with Cyclical Behaviour," Computing in Economics and Finance 2005 4, Society for Computational Economics.
    16. Robert E. Lucas & Jr., 1967. "Adjustment Costs and the Theory of Supply," Journal of Political Economy, University of Chicago Press, vol. 75, pages 321-321.
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    Cited by:

    1. Stemp, Peter J. & Herbert, Ric D., 2008. "Comparing different approaches for solving optimizing models with significant nonlinearities," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 78(2), pages 357-366.
    2. Dietrich, Andreas & Krüger, Jens, 2010. "Numerical Explorations of the Ngai-Pissarides Model of Growth and Structural Change," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 46865, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    3. Herbert, Ric D. & Stemp, Peter J., 2011. "Solving macroeconomic models with “off-the-shelf” software: An example of potential pitfalls," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 81(7), pages 1375-1384.
    4. Herbert, Ric D. & Stemp, Peter J., 2009. "Solving a non-linear model: The importance of model specification for deriving a suitable solution," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 79(9), pages 2847-2855.

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