The Market Resources Method for Solving Dynamic Optimization Problems

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:	2017
Authors:	Kabukcuoglu Dur, Ayşe
Other Persons:	Martínez-García, Enrique (contributor)
Publisher:	[2017]: [S.l.] : SSRN
Subject:	Theorie \| Theory \| Mathematische Optimierung \| Mathematical programming \| Dynamische Optimierung \| Dynamic programming

Extent:	1 Online-Ressource (15 p)
Series:	Globalization and Monetary Policy Institute Working Paper ; No. 274
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments 2016-06-01 erstellt
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://www.econbiz.de/10012968950