01777cas a2200265 a 4500 AALejournalIMF000270 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451947144 1018-5941 BD-DhAAL BD-DhAAL Juillard, Michel. A Robust and Efficient Method for Solving Nonlinear Rational Expectations Models / Michel Juillard, Douglas Laxton. Washington, D.C. : International Monetary Fund, 1996. 1 online resource (30 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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. Mode of access: Internet United States imf Laxton, Douglas. IMF Working Papers; Working Paper ; No. 1996/106 Full text available on IMF http://elibrary.imf.org/view/journals/001/1996/106/001.1996.issue-106-en.xml IMF e-Library