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Algorithms for solving dynamic models with occasionally binding constraints

  • Lawrence J. Christiano
  • Jonas D.M. Fisher

A description and comparison of several algorithms for approximating the solution to a model in which inequality constraints occasionally bind. Their performance is evaluated using various parameterizations of the one-sector growth model with irreversible investment.

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Paper provided by Federal Reserve Bank of Chicago in its series Working Paper Series, Macroeconomic Issues with number 94-6.

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Date of creation: 1994
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Handle: RePEc:fip:fedhma:94-6
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  41. Wilbur John Coleman II, 1988. "Money, interest, and capital in a cash-in-advance economy," International Finance Discussion Papers 323, Board of Governors of the Federal Reserve System (U.S.).
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  43. Aiyagari, S. Rao, 1994. "Frictions in asset pricing and macroeconomics," European Economic Review, Elsevier, vol. 38(3-4), pages 932-939, April.
  44. den Haan, Wouter J., 1995. "The term structure of interest rates in real and monetary economies," Journal of Economic Dynamics and Control, Elsevier, vol. 19(5-7), pages 909-940.
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  48. Brian D. Wright & Jeffrey C. Williams, 1982. "The Roles of Public and Private Storage in Managing Oil Import Disruptions," Bell Journal of Economics, The RAND Corporation, vol. 13(2), pages 341-353, Autumn.
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