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Book
Algorithms for Solving Dynamic Models with Occasionally Binding Constraints
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Author: Christiano, Lawrence J.
Year: 1997 Publisher: Cambridge, Mass. National Bureau of Economic Research
Year: 1997 Publisher: Cambridge, Mass. National Bureau of Economic Research
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Book
Algorithms for Solving Dynamic Models with Occasionally Binding Constraints
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Authors:
Christiano, Lawrence J.
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Fisher, Jonas D.M.
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National Bureau of Economic Research.
Year: 1997 Publisher: Cambridge, Mass. National Bureau of Economic Research
Year: 1997 Publisher: Cambridge, Mass. National Bureau of Economic Research
Abstract | Keywords | Export | Availability | Bookmark
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Abstract
We describe and compare several algorithms for approximating the solution to a model in" which inequality constraints occasionally bind. Their performance is evaluated and compared" using various parameterizations of the one sector growth model with irreversible investment. We" develop parameterized expectation algorithms which, on the basis of speed convenience of implementation, appear to dominate the other algorithms."
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