Computing the optimal trajectory over time of key variables is a standard exercise in decision-making and the analysis of many dynamic systems. In practice however, it is often enough to ensure that these variables evolve within certain bounds. In this paper we study the problem of setting...

We extend Krawczyk and Kim (Macroecon Dyn 13(1):46–80, <CitationRef CitationID="CR19">1999</CitationRef>) and apply a viability approach to a small-open economy where the exchange rate works as an additional monetary policy transmission channel. A continuous-time version of the model presented in Batini and Haldane (In: Monetary policy...</citationref>

Traditional means of studying environmental economics and management problems consist of optimal control and dynamic game models that are solved for optimal or equilibrium strategies. Notwithstanding the possibility of multiple equilibria, the models’ users—managers or planners—will...

Computing the solution to a stochastic optimal control problem is difficult. A method of approximating a solution to a given stochastic optimal control problem using Markov chains was developed in [1]. This paper describes a suite of MATLAB functions implementing this method of approximating a...

A powerful method for computing Nash equilibria in constrained, multi-player games is created when the relaxation algorithm and the Nikaido-Isoda function are used together in a suite of MATLAB routines. This paper updates the MATLAB suite described in \cite{Berridge97} by adapting them to...