Smart Forward Shooting
Computational Economics, Forthcoming
44 Pages Posted: 16 Oct 2008
Date Written: April 1, 2008
In this paper we develop a set of innovative forward-shooting algorithms that solve for the global nonlinear saddle path in models with 1-3 jump variables. Exploiting the fact that the algorithms are mechanical and model-free, we have placed canned, fully-automated programs in the public domain. The programs do not require any substantive human input. The user's only responsibility is to type in the equations of the model correctly.
Keywords: forward shooting, automated programs, global saddle path
JEL Classification: F41, C61, C63
Suggested Citation: Suggested Citation