Solving the Dynamics of a Non-Linear Representative Agent Model.

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.

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Year of publication:	1999
Authors:	Herbert, R.C. ; Stemp, P.J.
Institutions:	Department of Economics, Faculty of Business and Economics
Subject:	ECONOMIC MODELS \| DYNAMIC ANALYSIS \| ECONOMICS

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Series:	Department of Economics - Working Papers Series.
Type of publication:	Book / Working Paper
Notes:	Number 705 6 pages
Classification:	C50 - Econometric Modeling. General ; E00 - Macroeconomics and Monetary Economics. General ; D00 - Microeconomics. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005750875