Algorithms for Solving Dynamic Models with Occasionally Binding Constraints

Lawrence J. Christiano, Jonas D.M. Fisher

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 convenience of implementation, appear to dominate the other algorithms."

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Year of publication:	October 1997
Authors:	Christiano, Lawrence J.
Other Persons:	Fisher, Jonas D.M. (contributor)
Institutions:	National Bureau of Economic Research (contributor)
Publisher:	Cambridge, Mass : National Bureau of Economic Research
Subject:	Theorie \| Theory \| Algorithmus \| Algorithm \| Mathematische Optimierung \| Mathematical programming

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