This paper considers alternative numerical approaches to solvingthe time-path of a nonlinear representative agent model. Copyright Kluwer Academic Publishers 2003

This paper presents an approach for assessing the time taken by the well known reverse-shooting and forward-shooting algorithms to solve large-scale macroeconomic models characterized by saddle-path instability. We focus on a range of investment models with multi-dimensional specifications of...

When working with large-scale models or numerous small models, there can be a temptation to rely on default settings in proprietary software to derive solutions to the model. In this paper we show that, for the solution of non-linear dynamic models, this approach can be inappropriate....

The property of saddle-path instability often arises in economic models derived from optimizing behavior by individual agents. In the case when underlying functional forms are nonlinear, it is likely that the stable and unstable arms defining the saddle-path dynamics will also have nonlinear...