Solving the dynamics of a representative agent macro-economic model

Ric D. Herbert and Peter J. Stemp

Mathematics and Computers in Simulation (MATCOM), 2002, vol. 59, issue 1, 95-104

Abstract: This paper describes two alternative approaches (modified reverse shooting and forward shooting) for solving the time-path of a representative agent model following an exogenous shock. In particular, reverse shooting is demonstrably better for solving part of the model but must be modified before it can be used to solve the full model with the least computational effort. On the other hand, an unmodified form of forward shooting can be used to solve both part and full model.

Keywords: Macro-economic dynamics; Shooting methods; Numerical techniques (search for similar items in EconPapers)
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:eee:matcom:v:59:y:2002:i:1:p:95-104

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