Local and Nonlocal Comparative Static Analysis of Economic Systems
The complete system of ordinary differential equations developed by Kalaba and Tesfatsion (1981) for tracking solution branches of parameterized nonlinear systems is tested using several illustrative examples. One example is the standard Ramsey optimal growth model, for which analytical solutions can be obtained. For this example, the complete system is used to generate solutions c(rho) and k(rho) for the steady-state per-capita levels for consumption and capital as the time preference parameter rho varies from 0 to 0.50. Accuracy to four decimal places is obtained. This represents a stringent test of the method, since the derivative of k(rho) near rho=0 is on the order of -10^2 whereas the derivative of k(rho) near rho=0.50 is on the order of -10^0. Annotated pointers to related work can be accessed here: http://www2.econ.iastate.edu/tesfatsi/nasahome.htm
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||01 Jan 1981|
|Date of revision:|
|Publication status:||Published in Applied Mathematics and Computation 1981, vol. 9, pp. 227-234|
|Contact details of provider:|| Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070|
Phone: +1 515.294.6741
Fax: +1 515.294.0221
Web page: http://www.econ.iastate.edu
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:isu:genres:11220. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Curtis Balmer)
If references are entirely missing, you can add them using this form.