Chapter 5 Numerical solution of dynamic economic models

This chapter is concerned with numerical simulation of dynamic economic models. We focus on some basic algorithms and assess their accuracy and stability properties. This analysis is useful for an optimal implementation and testing of these procedures, as well as to evaluate their performance. Several examples are provided in order to illustrate the functioning and efficiency of these algorithms.

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Year of publication:	1999
Authors:	Santos, Manuel S.
Published in:	Handbook of macroeconomics : volume 1, part A. - Amsterdam [u.a.] : Elsevier, ISBN 978-0-444-50156-1. - 1999, p. 311-386
Subject:	dynamic economic model \| value function \| policy function \| Euler equation \| numerical algorithm \| numerical solution \| approximation error \| Numerisches Verfahren \| Numerical analysis \| Dynamische Wirtschaftstheorie \| Economic dynamics \| Mathematische Optimierung \| Mathematical programming \| Variationsrechnung \| Variational method \| Algorithmus \| Algorithm \| Wirtschaftsmodell \| Economic model \| Dynamische Optimierung \| Dynamic programming

Type of publication:	Article
Language:	English
Other identifiers:	10.1016/S1574-0048(99)01008-3 [DOI]
Classification:	C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; C63 - Computational Techniques ; C68 - Computable General Equilibrium Models
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014024245