Solving macroeconomic models with “off-the-shelf” software: An example of potential pitfalls
Author
Abstract
Suggested Citation
DOI: 10.1016/j.matcom.2010.08.001
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Sargent, Thomas J & Wallace, Neil, 1973. "The Stability of Models of Money and Growth with Perfect Foresight," Econometrica, Econometric Society, vol. 41(6), pages 1043-1048, November.
- Blanchard, Olivier Jean & Kahn, Charles M, 1980. "The Solution of Linear Difference Models under Rational Expectations," Econometrica, Econometric Society, vol. 48(5), pages 1305-1311, July.
- Stemp, Peter J. & Herbert, Ric D., 2003. "Calculating short-run adjustments: Sensitivity to non-linearities in a representative agent framework," Journal of Economic Dynamics and Control, Elsevier, vol. 27(3), pages 357-379, January.
- Stephen J. Turnovsky, 2000. "Methods of Macroeconomic Dynamics, 2nd Edition," MIT Press Books, The MIT Press, edition 2, volume 1, number 0262201232, April.
- Peter Stemp & Ric Herbert, 2006. "Solving Non-Linear Models with Saddle-Path Instabilities," Computational Economics, Springer;Society for Computational Economics, vol. 28(2), pages 211-231, September.
- George, Donald A.R. & Oxley, Les, 2008.
"Money and inflation in a nonlinear model,"
Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 78(2), pages 257-265.
- Donald A R George & Les Oxley, 2007. "Money and inflation in a nonlinear model," Edinburgh School of Economics Discussion Paper Series 160, Edinburgh School of Economics, University of Edinburgh.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Herbert, Ric D. & Stemp, Peter J., 2009. "Solving a non-linear model: The importance of model specification for deriving a suitable solution," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 79(9), pages 2847-2855.
- Stemp, Peter J. & Herbert, Ric D., 2008. "Comparing different approaches for solving optimizing models with significant nonlinearities," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 78(2), pages 357-366.
- Lamo, Ana & Messina, Julián & Wasmer, Etienne, 2011.
"Are specific skills an obstacle to labor market adjustment?,"
Labour Economics, Elsevier, vol. 18(2), pages 240-256, April.
- Lamo, Ana & Messina, Julián & Wasmer, Etienne, 2010. "Are Specific Skills an Obstacle to Labor Market Adjustment?," IZA Discussion Papers 5250, Institute of Labor Economics (IZA).
- Ana Lamo & Julian Messina & Etienne Wasmer, 2011. "Are specific skills an obstacle to labor market adjustment?," Post-Print hal-03415491, HAL.
- Ana Lamo & Julian Messina & Etienne Wasmer, 2011. "Are specific skills an obstacle to labor market adjustment?," SciencePo Working papers Main hal-03415491, HAL.
- Sergey Pekarski, 2017.
"Tight Money and the Sustainability of Public Debt,"
International Journal of Central Banking, International Journal of Central Banking, vol. 13(1), pages 191-223, February.
- Sergey E. Pekarski, 2015. "Tight Money and the Sustainability of Public Debt," HSE Working papers WP BRP 95/EC/2015, National Research University Higher School of Economics.
- Stephen J. Turnovsky, 2011.
"Stabilization Theory and Policy: 50 Years after the Phillips Curve,"
Economica, London School of Economics and Political Science, vol. 78(309), pages 67-88, January.
- Stephen J. Turnovsky, 2008. "Stabilization Theory and Policy: 50 Years after the Phillips Curve," Working Papers UWEC-2008-09-FC, University of Washington, Department of Economics.
- McCallum, Bennett T., 1983.
"On non-uniqueness in rational expectations models : An attempt at perspective,"
Journal of Monetary Economics, Elsevier, vol. 11(2), pages 139-168.
- Bennett T. McCallum, 1981. "On Non-Uniqueness in Rational Expectations Models: An Attempt at Perspective," NBER Working Papers 0684, National Bureau of Economic Research, Inc.
- Ana Lamo & Julian Messina & Etienne Wasmer, 2006.
"Are Specific Skills an Obstacle to Labor Market Adjustment? Theory and an Application to the EU Enlargement,"
Working Papers
hal-03459097, HAL.
- Lamo, Ana & Wasmer, Etienne & Messina, Julián, 2006. "Are Specific Skills an Obstacle to Labour Market Adjustment? Theory and an Application to the EU Enlargement," CEPR Discussion Papers 5503, C.E.P.R. Discussion Papers.
- Lamo, Ana & Messina, Julián & Wasmer, Etienne, 2006. "Are specific skills an obstacle to labor market adjustment? Theory and an application to the EU enlargement," Working Paper Series 585, European Central Bank.
- Ana Lamo & Julian Messina & Etienne Wasmer, 2007. "Are Specific Skills an Obstacle to Labor Market Adjustment? Theory and an Application to the EU Enlargement," CSEF Working Papers 172, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
- Canzoneri, Matthew & Cumby, Robert & Diba, Behzad, 2010. "The Interaction Between Monetary and Fiscal Policy," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 17, pages 935-999, Elsevier.
- Gauthier, Stephane, 2004.
"Determinacy in linear rational expectations models,"
Journal of Mathematical Economics, Elsevier, vol. 40(7), pages 815-830, November.
- Stéphane Gauthier, 2004. "Determinacy in Linear Rational Expectations Models," Post-Print hal-00731138, HAL.
- Philippe Michel & Antoine d'Autume, 1985.
"Epargne, investissement et monnaie dans une perspective intertemporelle,"
Revue Économique, Programme National Persée, vol. 36(2), pages 243-290.
- Antoine d'Autume & Philippe Michel, 1985. "Epargne, investissement et monnaie dans une perspective intertemporelle," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00430098, HAL.
- Antoine d'Autume & Philippe Michel, 1985. "Epargne, investissement et monnaie dans une perspective intertemporelle," Post-Print halshs-00430098, HAL.
- Michael Assous & Pedro Garcia Duarte, 2017. "Challenging Lucas: from overlapping generations to infinite-lived agent models," Working Papers, Department of Economics 2017_03, University of São Paulo (FEA-USP).
- Francesco Carravetta & Marco Sorge, 2010. "A “Nearly Ideal” Solution to Linear Time-Varying Rational Expectations Models," Computational Economics, Springer;Society for Computational Economics, vol. 35(4), pages 331-353, April.
- David Lipton & James M. Poterba & Jeffrey Sachs & Lawrence H. Summers, 1983. "Multiple Shooting in Rational Expectations Models," NBER Technical Working Papers 0003, National Bureau of Economic Research, Inc.
- Peter J. Stemp, 2004. "A Review of 'Jumps' in Macroeconomic Models: With Special Reference to the Case when Eigenvalues are Complex-Valued," Department of Economics - Working Papers Series 920, The University of Melbourne.
- Chao, Chi-Chur & Hu, Shih-Wen & Lai, Ching-Chong & Tai, Meng-Yi & Wang, Vey, 2013. "Tariff-tax reform and exchange rate dynamics in a monetary economy," The North American Journal of Economics and Finance, Elsevier, vol. 24(C), pages 63-73.
- Mordecai Kurz, 2015. "Stabilizing Wage Policy," Discussion Papers 15-007, Stanford Institute for Economic Policy Research.
- Moosavi Mohseni, Reza & Cao, Jiling, 2020. "Monetary policy and financial economic growth," The Journal of Economic Asymmetries, Elsevier, vol. 22(C).
- Thomas Lubik, 2003. "Investment Spending,Equilibrium Indeterminacy and the Interactions of Monetary and Fiscal Policy," Economics Working Paper Archive 490, The Johns Hopkins University,Department of Economics.
- Ingrid Ott & Stephen J. Turnovsky, 2006.
"Excludable and Non‐excludable Public Inputs: Consequences for Economic Growth,"
Economica, London School of Economics and Political Science, vol. 73(292), pages 725-748, November.
- Ingrid Ott & Stephen J. Turnovsky, 2005. "Excludable and Non-excludable Public Inputs: Consequences for Economic Growth," Working Paper Series in Economics 2, University of Lüneburg, Institute of Economics.
- Ott Ingrid & Stephen Turnovsky, 2005. "Excludable and Non-excludable Public Inputs: Consequences for Economic Growth," Working Papers UWEC-2006-02-P, University of Washington, Department of Economics, revised Jun 2005.
- Ingrid Ott & Stephen Turnovsky, 2005. "Excludable and Non-Excludable Public Inputs: Consequences for Economic Growth," CESifo Working Paper Series 1423, CESifo.
- Ireland, Peter N., 2003.
"Endogenous money or sticky prices?,"
Journal of Monetary Economics, Elsevier, vol. 50(8), pages 1623-1648, November.
- Peter N. Ireland, 2001. "Endogenous Money or Sticky Prices?," Boston College Working Papers in Economics 499, Boston College Department of Economics.
- Peter N. Ireland, 2002. "Endogenous Money or Sticky Prices?," NBER Working Papers 9390, National Bureau of Economic Research, Inc.
More about this item
Keywords
Solving non-linear models; Reverse-shooting; Computational economics; Computer software;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:matcom:v:81:y:2011:i:7:p:1375-1384. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/mathematics-and-computers-in-simulation/ .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.