Terminal conditions as efficent instruments for numerical detection of the saddlepoint paths: a linear algebra non-robustness argument

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dc.contributor.author Boucekkine, Raouf
dc.contributor.editor Universidad Carlos III de Madrid. Departamento de Economía
dc.date.accessioned 2008-09-02T11:04:50Z
dc.date.available 2008-09-02T11:04:50Z
dc.date.issued 1993-11
dc.identifier.issn 2340-5031
dc.identifier.uri http://hdl.handle.net/10016/2898
dc.description.abstract In this paper, we address a criticism against the usual prescriptions on the introduction of terminal conditions as the principal numerical instruments for detecting the saddlepoint solutions of consistent expectations models. The argumentation is purely theoretical and it is conducted on a canonical linear infinite-time horizon model, approximated by the means of an elementary fixed-value terminal condition. Considering two equivalent algebraic representations of the model, we show that the asymptotic behavior of a backward solution method, associated to the fixed-value terminal condition, depends crucially on the selected algebraic formulation of the model.
dc.format.mimetype application/pdf
dc.language.iso eng
dc.relation.ispartofseries UC3M Working Papers. Economics
dc.relation.ispartofseries 1993-33-10
dc.rights Atribución-NoComercial-SinDerivadas 3.0 España
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.subject.other Consistent expectations
dc.subject.other Numerical solutions
dc.subject.other Saddlepoint paths
dc.title Terminal conditions as efficent instruments for numerical detection of the saddlepoint paths: a linear algebra non-robustness argument
dc.type workingPaper
dc.type workingPaper
dc.subject.eciencia Economía
dc.rights.accessRights openAccess
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