Algorithms for solving dynamic models with occasionally binding constraints

Lawrence Christiano and Jonas Fisher

No WP-97-15, Working Paper Series, Macroeconomic Issues from Federal Reserve Bank of Chicago

Abstract: We describe and compare several algorithms for approximating the solution to a model in which inequality constraints occasionally bind. Their performance is evaluated and compared using various parameterizations of the one sector growth model with irreversible investment. We develop parameterized expectation algorithms which, on the basis of speed, accuracy and convenience of implementation, appear to dominate the other algorithms.

Keywords: Econometric; models (search for similar items in EconPapers)
Date: 1997
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Related works:
Journal Article: Algorithms for solving dynamic models with occasionally binding constraints (2000)
Working Paper: Algorithms for solving dynamic models with occasionally binding constraints (1997)
Working Paper: Algorithms for Solving Dynamic Models with Occasionally Binding Constraints (1997)
Working Paper: Algorithms for solving dynamic models with occasionally binding constraints (1994)
Working Paper: Algorithms for solving dynamic models with occasionally binding constraints (1994)
Working Paper: Algorithms for Solving Dynamic Models with Occasionally Binding Constraints (1994)
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