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...

In this paper, we consider a macroeconomic model with alternative linear and non-linear specifications. One version of the model, expressed in levels, is highly non-linear and has at least two steady-state equilibria. One of these equilibria has an economically meaningful interpretation, while...

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...

This paper presents some results from a numerical model of the wind and thermal climates, and the energy budgets, of city canyons. The model is capable of simulating spatial patterns of canyon energy budget components, subsurface and air temperature, and the components of the wind, as these are...

An individual-based model which produces nonlinear predator-prey dynamics is described. The importance of individual variation to the stability of the population dynamics predicted by the model and the advantages of the individual-based approach to modelling ecological systems is discussed. The...

Personal computers contribute significantly to the growing problem of electronic waste. Every computer, when finished with, must be stored, dumped, recycled, or somehow re-used. Most are dumped, at a huge cost to health and the environment, as their owners succumb to the desire to keep up with...

Observers and Macroeconomic Systems is concerned with the computational aspects of using a control-theoretic approach to the analysis of dynamic macroeconomic systems. The focus is on using a separate model for the development of the control policies. In particular, it uses the observer-based...