On Comparative-Static Analysis in Numerical Nonlinear Economic Models

Richard Arnott and John Rowse

Computational Economics, 1995, vol. 8, issue 2, 95-105

Abstract: Many economic models can be formulated as a system of nonlinear equations and solved numerically using a black-box equation solver found in software packages such as EUREKA or MATHEMATICA. Unfortunately, black-box solvers can fail for several reasons and the messages displayed upon termination may not be very informative. In this paper we discuss a Jacobian-based solution method we devised for comparative static analysis of a model of parking in order to cope with computational difficulties encountered with black-box solvers. Our method worked well and should apply to a variety of computational economic (and non-economic) models. Citation Copyright 1995 by Kluwer Academic Publishers.

Date: 1995
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