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Reverse Shooting Made Easy: Automating the Search for the Global Nonlinear Saddle Path
Social Science Research Network
We explain how to use reverse shooting to trap the global saddle path in systems with 2-3 state variables. Our algorithms are fast, efficient, and fail-proof. Since the algorithms are completely reliable and always work in the same way, we have been able to develop canned problems that solve for the global nonlinear saddle path in any model with 2-3 state variables. The programs are written in the spirit of plug and play: the user types in the equations of the model and then waits for the solution. JEL Codes: C61, C63, E00.doi:10.2139/ssrn.1285052 fatcat:srtd2yuc4nfx3b2hrncbisnszm