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Practical

Author

Listed:
  • Gary Anderson

Abstract

Anderson's papers describe a method for solving linear saddle point models. The numerical implementation of the algorithm has proved useful in a wide array of applications including analyzing linear perfect foresight models, and providing initial solutions and asymptotic constraints for nonlinear models. In contract, although the symbolic algebra version has been available for years, few researchers have used it in their work. Most researchers believe that symbolic algebraic solution of useful rational expectations models remains beyond the capacity of present day computers. This papers provides practical advice on how to use symbolic algebra packages to solve moderate sized linear rational expectations models. The computational bottleneck lies in the determination of the invariant space associated with large roots of the transition matrix. This paper provides strategies for avoiding the solution of high order polynomial characteristic, and provides techniques for "switching" to numeric computation at strategic points. With present day PC's, one can solve linear models with ten or twenty equations using these strategies.

Suggested Citation

  • Gary Anderson, 2001. "Practical," Computing in Economics and Finance 2001 138, Society for Computational Economics.
  • Handle: RePEc:sce:scecf1:138
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    Cited by:

    1. Glenn Jenkins & Chun-Yan Kuo & Arnold C. Harberger, 2011. "Cost-Benefit Analysis for Investment Decisions: Chapter 15 (Cost-Effectiveness and Cost-Utility Analysis)," Development Discussion Papers 2011-15, JDI Executive Programs.
    2. Afanasiev, Roman (Афанасьев, Роман), 2015. "Evaluation of the cost-effectiveness of the Russian Federation within the state programs [Оценка Эффективности Расходов Субъектов Российской Федерации В Рамках Государственных Программ]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 6, pages 99-108.
    3. Glenn P. Jenkins & Chun-Yan Kuo, 2006. "Evaluation of the Benefits of Transnational Transportation Projects," Journal of Applied Economics, Taylor & Francis Journals, vol. 9(1), pages 1-17, May.
    4. Lindhjem, Henrik & Hu, Tao & Ma, Zhong & Skjelvik, John Magne & Song, Guojun & Vennemo, Haakon & Wu, Jian & Zhang, Shiqiu, 2006. "Environmental economic impact assessment in China: Problems and prospects," MPRA Paper 11464, University Library of Munich, Germany.
    5. Marián Kočner, 2014. "Financial - Accounts View on the Governmental Expenses and the Autonomy Administration in the Conditions of the Slovak Republic," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 62(6), pages 1537-1543.
    6. Marie-Josée J. Mangen & G. Ardine de Wit & Arie H. Havelaar, 2007. "Economic analysis of Campylobacter control in the dutch broiler meat chain," Agribusiness, John Wiley & Sons, Ltd., vol. 23(2), pages 173-192.
    7. Ali, Irfan, 2016. "The impact of ERP implementation on the financial performance of the firm : An empirical study," Other publications TiSEM 876506f5-1aed-4421-aa2c-0, Tilburg University, School of Economics and Management.
    8. Glenn Jenkins & Chun-Yan Kuo & Arnold C. Harberger, 2011. "Cost-Benefit Analysis for Investment Decisions: Forward, Table of Contents, Preface and Chapter 1 (The Integrated Analysis of Investment Projects)," Development Discussion Papers 2011-01, JDI Executive Programs.
    9. CLIPICI Emilia & FRANT Florin, 2013. "Cost Benefit Analysis - Tool For Allocation of Financial Resources For Major Projects," Anale. Seria Stiinte Economice. Timisoara, Faculty of Economics, Tibiscus University in Timisoara, vol. 0, pages 142-146, May.
    10. repec:jss:jstsof:06:i07 is not listed on IDEAS
    11. Törnquist, Johanna & Gustafsson, Inger, 2004. "Perceived Benefits Of Improved Information Exchange - A Case Study On Rail And Intermodal Transports," Research in Transportation Economics, Elsevier, vol. 8(1), pages 415-440, January.
    12. Purohit, Pallav & Kandpal, Tara Chandra, 2007. "Techno-economics of biogas-based water pumping in India: An attempt to internalize CO2 emissions mitigation and other economic benefits," Renewable and Sustainable Energy Reviews, Elsevier, vol. 11(6), pages 1208-1226, August.
    13. Aysun Uluc, 2011. "An Alternative Method for Measuring Financial Frictions," The B.E. Journal of Macroeconomics, De Gruyter, vol. 11(1), pages 1-31, April.
    14. Calmet , Denisse & Capurro , Juan Miguel, 2011. "El tiempo es dinero: Cálculo del valor social del tiempo en Lima Metropolitana para usuarios de transporte urbano," Revista Estudios Económicos, Banco Central de Reserva del Perú, issue 20, pages 73-86.
    15. Blunch, Niels-Hugo, 2013. "Staying Alive: Adult Literacy Programs and Child Mortality in Rural Ghana," World Development, Elsevier, vol. 42(C), pages 114-126.
    16. Brenters, J. & Romijn, H.A., 2002. "A sub-sector approach to cost-benefit analysis: Small-scale sisal processing in Tanzania," Working Papers 02.04, Eindhoven Center for Innovation Studies.
    17. Potapov, Alex & Muirhead, Jim R. & Lele, Subhash R. & Lewis, Mark A., 2011. "Stochastic gravity models for modeling lake invasions," Ecological Modelling, Elsevier, vol. 222(4), pages 964-972.
    18. Giuseppe Pennisi & Pasquale L. Scandizzo, 2006. "Economic Evaluation in the age of Uncertainty," CEIS Research Paper 86, Tor Vergata University, CEIS.
    19. Kalra, Nidhi & Hallegatte, Stephane & Lempert, Robert & Brown, Casey & Fozzard, Adrian & Gill, Stuart & Shah, Ankur, 2014. "Agreeing on robust decisions : new processes for decision making under deep uncertainty," Policy Research Working Paper Series 6906, The World Bank.
    20. Hamilton, Kirk & Stover, Jana, 2012. "Economic analysis of projects in a greenhouse world," Policy Research Working Paper Series 6117, The World Bank.
    21. Glenn P. Jenkins & Chun‐Yan Kuo, 2007. "Evaluating the Relative Impact of Fiscal Incentives and Trade Policies on the Returns to Manufacturing in Taiwan, 1955–1995," Asian Economic Journal, East Asian Economic Association, vol. 21(1), pages 75-100, March.
    22. Mangen, Marie-Josee J. & Poppe, Krijn J. & Havelaar, Arie H., 2005. "Controlling Campylobacter in the chicken meat chain; Estimation of intervention costs," Report Series 29108, Wageningen University and Research Center, Agricultural Economics Research Institute.

    More about this item

    Keywords

    symbolic;

    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques

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