A robust and efficient method for solving nonlinear rational expectations models /

A robust and efficient method for solving nonlinear rational expectations models /

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Bibliographic Details
Author / Creator:	Juillard, Michel, author.
Imprint:	[Washington, D.C.] : International Monetary Fund, Research Dept., ©1996.
Description:	1 online resource (30 pages) : illustrations
Language:	English
Series:	IMF working paper, 2227-8885 ; WP/96/106 IMF working paper ; WP/96/106.
Subject:	Economics, Mathematical. Rational expectations (Economic theory) -- Econometric models. Economic policy -- Econometric models. Economic policy -- Econometric models. Economics, Mathematical. Rational expectations (Economic theory) -- Econometric models.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12511595

Hidden Bibliographic Details
Other authors / contributors:	Laxton, Douglas, author. International Monetary Fund. Research Department.
ISBN:	1451898509 9781451898507 1462372139 9781462372133 9781451947144 1451947143
Notes:	Includes bibliographical references (pages 24-26). Restrictions unspecified Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010. Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 English. digitized 2010 HathiTrust Digital Library committed to preserve Print version record.
Summary:	The development and use of forward-looking macro models in policymaking institutions has proceeded at a pace much slower than predicted in the early 1980s. An important reason is that researchers have not had access to robust and efficient solution techniques for solving nonlinear forward-looking models. This paper discusses the properties of a new algorithm that is used for solving MULTIMOD, the IMF's multicountry model of the world economy. This algorithm is considerably faster and much less prone to simulation failures than to traditional algorithms and can also be used to solve individual country models of the same size.
Other form:	Print version: Juillard, Michel. Robust and efficient method for solving nonlinear rational expectations models. [Washington, D.C.] : International Monetary Fund, Research Dept., ©1996
Standard no.:	10.5089/9781451898507.001

Description
Summary:	The development and use of forward-looking macro models in policymaking institutions has proceeded at a pace much slower than predicted in the early 1980s. An important reason is that researchers have not had access to robust and efficient solution techniques for solving nonlinear forward-looking models. This paper discusses the properties of a new algorithm that is used for solving MULTIMOD, the IMF's multicountry model of the world economy. This algorithm is considerably faster and much less prone to simulation failures than to traditional algorithms and can also be used to solve individual country models of the same size.
Physical Description:	1 online resource (30 pages) : illustrations
Format:	Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Bibliography:	Includes bibliographical references (pages 24-26).
ISBN:	1451898509 9781451898507 1462372139 9781462372133 9781451947144 1451947143
ISSN:	2227-8885 ;