Parametric Path Method: An alternative to Fair-Taylor and L-B-J for solving perfect foresight models

Kenneth Judd

No 112, Computing in Economics and Finance 2001 from Society for Computational Economics

Abstract: The parametric path method applies projection methods to compute the equilibrium path of economic variables in infinite-horizon dynamic models. We exploit the special structure of economic time paths common in such models. This structure drastically reduces dimensionality and reduces computing time. We apply the parametric method to a simple example which illustrates how one applies the ideas to produce an efficient implementation.

Keywords: dynamic models; projection methods (search for similar items in EconPapers)
JEL-codes: C63 (search for similar items in EconPapers)
Date: 2001-04-01
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Journal Article: The parametric path method: an alternative to Fair-Taylor and L-B-J for solving perfect foresight models (2002)
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