| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26310 |
| 来源ID | Working Paper 26310 |
| FiPIt: A Simple, Fast Global Method for Solving Models with Two Endogenous States & Occasionally Binding Constraints | |
| Enrique G. Mendoza; Sergio Villalvazo | |
| 发表日期 | 2019-09-30 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | We propose a simple and fast fixed-point iteration algorithm FiPIt to obtain the global, non-linear solution of macro models with two endogenous state variables and occasionally binding constraints. This method uses fixed-point iteration on Euler equations to avoid solving two simultaneous nonlinear equations (as with the time iteration method) or creating modified state variables requiring irregular interpolation (as with the endogenous grids method). In the small-open-economy RBC and Sudden Stops models provided as examples, FiPIt is used on the bonds and capital Euler equations to solve for the bonds decision rule and the capital pricing function. In a standard Matlab platform, FiPIt solves both models much faster than time iteration and various hybrid methods. The choice of functions that FiPIt iterates on using the Euler equations can vary across models, and there can be more that one arrangement for the same model. |
| 主题 | Macroeconomics ; Macroeconomic Models ; Money and Interest Rates ; International Economics ; International Finance ; International Macroeconomics |
| URL | https://www.nber.org/papers/w26310 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/583983 |
| 推荐引用方式 GB/T 7714 | Enrique G. Mendoza,Sergio Villalvazo. FiPIt: A Simple, Fast Global Method for Solving Models with Two Endogenous States & Occasionally Binding Constraints. 2019. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w26310.pdf（752KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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