Solving non-linear models with saddle-path instabilities

DOI10.1007/S10614-006-9042-6MaRDI QIDQ857743zbMATHOpenAlexFDO

Authors Peter J. Stemp, Ric D. Herbert

Publication date 20 December 2006

Published in Computational Economics (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s10614-006-9042-6

zbMATH Keywords

macroeconomicscomputational techniquesmonotonic convergencecomplex-valued eigenvaluescyclic convergencereal-valued eigenvaluessaddle-path instability

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Applications of optimal control and differential games (49N90)

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Cites work

• scientific article; zbMATH DE number 3541848 (Why is no real title available?)
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• Comparing different approaches for solving optimizing models with significant nonlinearities
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• Habit formation, catching up with the Joneses, and economic growth
• Numerical initial value problems in ordinary differential equations.
• Numerical solution of infinite-horizon optimal-control problems
• Solving linear rational expectations models
• The MATLAB ODE Suite
• The Solution of Linear Difference Models under Rational Expectations
• Tobin's Marginal q and Average q: A Neoclassical Interpretation
• Trend-reverting fluctuations in the life-cycle model

Cited in

(6)

• Assessing two common approaches for solving models with saddle-path instabilities
• Saddle cycles: solving rational expectations models featuring limit cycles (or chaos) using perturbation methods
• Solving a non-linear model: The importance of model specification for deriving a suitable solution
• Reverse shooting made easy: Automating the search for the global nonlinear saddle path
• Comparing different approaches for solving optimizing models with significant nonlinearities
• A simple and intuitive method to solve small rational expectations models

Describes a project that uses

Uses Software

• Matlab
• ode23
• ode45
• Ode15s
• fminsearch
• ode113
• ode23s
• MATLAB ODE suite
• Gensys

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