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Solving for the Global Nonlinear Saddlepath: Reverse Shooting vs. Approximation Methods

Author

Listed:
  • Manoj Atolia
  • Edward F. Buffie

Abstract

The paper implements reverse shooting to solve for global nonlinear saddle path for optimal control problems with two state variables. It shows how to do reverse shooting. This will reduce entry barriers for researchers for whom this technique may be useful. For this purpose, user-friendly ‘plug-and- play’ programs are made available in public domain. These sample programs can be easily tailored to solve other problems as the search for the desired saddle path is done with very limited use of problem-specific information. The paper also compares the performance of existing approximation methods and finds their ranking in general depends on the nature of the problem, the variables that are of interest and the time horizon of interest

Suggested Citation

  • Manoj Atolia & Edward F. Buffie, 2005. "Solving for the Global Nonlinear Saddlepath: Reverse Shooting vs. Approximation Methods," Computing in Economics and Finance 2005 336, Society for Computational Economics.
    • Handle: RePEc:sce:scecf5:336
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    File URL: http://mailer.fsu.edu/~matolia/ReverseShoot.pdf
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    File URL: http://repec.org/sce2005/up.6958.1107194620.pdf
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    Cited by:

    1. Manoj Atolia, 2003. "Productivity-Enhancing Reforms, Private Capital Inflows, and Real Interest Rates in Africa," Working Papers wp2003_10_02, Department of Economics, Florida State University, revised Dec 2008.

    More about this item

    Keywords

    Reverse Shooting; Global Nonlinear Saddlepath Solution;

    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis

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