RECS is a MATLAB solver for dynamic, stochastic, rational expectations equilibrium models. RECS stands for ”Rational Expectations Complementarity Solver”. This name emphasizes that RECS has been developed specifically to solve models that include complementarity equations, also known as models with occasionally binding constraints. RECS is designed to solve small-scale nonlinear and complementarity models, but not large-scale models. For solving large-scale problems, but without complementarity equations, see Dynare or similar toolboxes.

Keywords for this software

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