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An Introduction To Iterative Methods For Solving Simultaneous Equation Models: Illustrations From Economics

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  • Todd, Richard
  • Roe, Terry L.

Abstract

This paper focuses on the application of computer-based, iterative methods for deriving analytical solutions to economic models expressed as systems of simultaneous linear and/or nonlinear equations. Practical suggestions for using four specific methods are emphasized. Analogies form economics are used to explain practical and theoretical points.

Suggested Citation

  • Todd, Richard & Roe, Terry L., 1978. "An Introduction To Iterative Methods For Solving Simultaneous Equation Models: Illustrations From Economics," Staff Papers 13915, University of Minnesota, Department of Applied Economics.
    • Handle: RePEc:ags:umaesp:13915
    DOI: 10.22004/ag.econ.13915
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    File URL: https://ageconsearch.umn.edu/record/13915/files/p78-11.pdf
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    References listed on IDEAS

    as
    1. Hurwicz, Leonid, 1973. "The Design of Mechanisms for Resource Allocation," American Economic Review, American Economic Association, vol. 63(2), pages 1-30, May.
    2. Mordecai Ezekiel, 1938. "The Cobweb Theorem," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 52(2), pages 255-280.
    3. David M. Gay, 1976. "On Modifying Singular Values to Solve Possible Singular Systems of Non-Linear Equations," NBER Working Papers 0125, National Bureau of Economic Research, Inc.
    4. John H. Duloy & Roger D. Norton, 1975. "Prices and Incomes in Linear Programming Models," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 57(4), pages 591-600.
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    Cited by:

    1. Westcott, Paul C. & Hull, David B., 1985. "A Quarterly Forecasting Model for U.S. Agriculture," Technical Bulletins 156815, United States Department of Agriculture, Economic Research Service.

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