Solving the Dynamics of a Non-Linear Representative Agent Model

R.C. Herbert and P.J. Stemp

No 705, Department of Economics - Working Papers Series from The University of Melbourne

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. On the other hand, an unmodified form of forward shooting can be used to solve both part and full models.

Keywords: ECONOMIC MODELS; DYNAMIC ANALYSIS; ECONOMICS (search for similar items in EconPapers)
JEL-codes: C50 D00 E00 (search for similar items in EconPapers)
Pages: 6 pages
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:mlb:wpaper:705

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