The market resources method for solving dynamic optimization problems

Ayşe Kabukçuoğlu, Enrique Martínez-García

We introduce the market resources method (MRM) for solving dynamic optimization problems. MRM extends Carroll’s (2006) endogenous grid point method (EGM) for problems with more than one control variable using policy function iteration. The MRM algorithm is simple to implement and provides advantages in terms of speed and accuracy over Howard’s policy improvement algorithm. Codes are available.

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Year of publication:	June 16, 2016 ; This draft: June 16, 2016
Authors:	Kabukçuoğlu, Ayşe ; Martínez-García, Enrique
Publisher:	Sarıyer/Istanbul : Koç University - TÜSİAD Economic Research Forum
Subject:	DSGE models \| Computational methods \| Policy function iteration \| Endogenous grid \| Theorie \| Theory \| Mathematische Optimierung \| Mathematical programming \| Dynamische Optimierung \| Dynamic programming \| Dynamisches Gleichgewicht \| Dynamic equilibrium \| DSGE-Modell \| DSGE model \| Algorithmus \| Algorithm

Extent:	1 Online-Ressource (circa 16 Seiten) Illustrationen
Series:	Koç University - TÜSİAD Economic Research Forum working paper series. - İstanbul, ZDB-ID 2440580-2. - Vol. 1607
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Other identifiers:	hdl:10419/166731 [Handle]
Classification:	C6 - Mathematical Methods and Programming ; 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/10011509578