|
| |
| |
|
|
|
RESEARCH PAPER NO. 858
REVERSE SHOOTING IN A MULTI-DIMENSIONAL SETTING
BY
RIC D. HERBERT & PETER J. STEMP
SEPTEMBER 2002
Department of Economics. University of Melbourne. Melbourne Victoria 3010 Australia
This paper investigates the properties
of dynamic solutions that have been derived
using the well-known reverse-shooting algorithm.
Given an arbitrary large-scale model
about which we have limited information,
how successful is the algorithm likely to
be in solving this model? We address
this question using a range of investment
models, both linear and non-linear. By
extending the investment models to allow
for multi-dimensional specifications of
the capital stock, we are able to examine
the computational efficiency of the reverse
shooting algorithm as the dimensionality
of the capital stock is allowed to increase.
Our approach provides insights into
how the complexity of the solutions to a
broad range of macroeconomic models increases
with the dimensionality of the models.
Request For Full Working Papers
|
This mail form will be sent automatically to Department of Economics Administrative Staff and your request will be processed. Please fill in your Details below and Click On "Send Request" button when you are finished. Papers will be sent by post.
|
|
|
| |
|
|