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Solving for the Global Nonlinear Saddlepath: Reverse Shooting vs. Approximation Methods

Author

Listed:
  • Manoj Atolia

    (Department of Economics, Florida State University)

  • Edward F. Buffie

    (Department of Economics, Indiana University)

Abstract

We 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 problems 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.

Suggested Citation

  • Manoj Atolia & Edward F. Buffie, 2004. "Solving for the Global Nonlinear Saddlepath: Reverse Shooting vs. Approximation Methods," Working Papers wp2004_08_01, Department of Economics, Florida State University.
    • Handle: RePEc:fsu:wpaper:wp2004_08_01
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    File URL: https://coss.fsu.edu/econpapers/wpaper/wp2004_08_01.pdf
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    Cited by:

    1. Manoj Atolia, 2003. "Productivity-Enhancing Reforms, Private Capital Inflows, and Real Interest Rates in Africa," Working Papers wp2003_10_02, Department of Economics, Florida State University, revised Dec 2008.

    More about this item

    Keywords

    Reverse Shooting; global saddle path; distance mapping.;
    All these keywords.

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • E00 - Macroeconomics and Monetary Economics - - General - - - General

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