Solving for the Global Nonlinear Saddlepath: Reverse Shooting vs. Approximation Methods
The paper implements reverse shooting to solve for global nonlinear saddle path for optimal control problems with two state variables. It shows how to do reverse shooting. This will reduce entry barriers for researchers for whom this technique may be useful. For this purpose, user-friendly â€˜plug-and- playâ€™ programs are made available in public domain. These sample programs can be easily tailored to solve other problems as the search for the desired saddle path is done with very limited use of problem-specific information. The paper also compares the performance of existing approximation methods and finds their ranking in general depends on the nature of the problem, the variables that are of interest and the time horizon of interest
|Date of creation:||11 Nov 2005|
|Date of revision:|
|Contact details of provider:|| Web page: http://comp-econ.org/|
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Alfonso Novales & Emilio Dominguez & Javier J. Perez & Jesus Ruiz, 1998. "Solving Non-linear Rational Expectations Models By Eigenvalue-Eigenvector Decompositions," QM&RBC Codes 124, Quantitative Macroeconomics & Real Business Cycles.
When requesting a correction, please mention this item's handle: RePEc:sce:scecf5:336. 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: (Christopher F. Baum)
If references are entirely missing, you can add them using this form.