TY  - JOUR
AU  - Gaspar,Jess
AU  - Judd,Kenneth L.
TI  - Solving Large Scale Rational Expectations Models
JF  - National Bureau of Economic Research Technical Working Paper Series
VL  - No. 207
PY  - 1997
Y2  - February 1997
UR  - http://www.nber.org/papers/t0207
L1  - http://www.nber.org/papers/t0207.pdf
N1  - Author contact info:
Kenneth L. Judd
Hoover Institution
Stanford University
Stanford, CA  94305-6010
Tel: 650/723-5866
Fax: 650/723-1687
E-Mail: kennethjudd@mac.com
AB  - We explore alternative approaches to numerical solutions of large rational expectations models.  We discuss and compare several current alternatives, focussing on the tradeoffs in accuracy, space, and speed.  The models range from representative agent models with many goods and capital stocks, to models of heterogeneous agents with complete or incomplete asset markets. The methods discussed include perturbation and projection methods.  We show that these methods are capable of analyzing moderately large models even when we use only elementary, general purpose numerical methods.
ER  -