Exploiting Model Structure to Solve the Dynamics of a Macro Model

Ric D. Herbert, Peter Stemp and Peter J. Stemp

No 266, CESifo Working Paper Series from CESifo

Abstract: This paper considers alternative approaches to solving the time-path of a representative agent model following an exogenous shock. The model has a number of important dynamic properties that are both common to a wide range of economic models and have important computational implications for solving the model. The paper compares the alternative approaches on a computational basis and shows that the best approach to solving the model is obtained by fully exploiting the model structure in a modified reverse shooting algorithm.

Keywords: Representative agent models; shooting methods; MATLAB (search for similar items in EconPapers)
Date: 2000
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Citations: View citations in EconPapers (1)

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