, for computational reasons, a policy function iteration algorithm is introduced to find a stationary solution to the …

) endogenous grid point method (EGM) for problems with more than one control variable using policy function iteration. The MRM …

) endogenous grid point method (EGM) for problems with more than one control variable using policy function iteration. The MRM …

region---the region of the parameter space where our policy function iteration algorithm converges to an MSV solution. We …

Policy function iteration methods for solving and analyzing dynamic stochastic general equilibrium models are powerful … reliance on grid-based methods have limited the use of policy function iteration as a solution algorithm. We reduce these costs …'s executable function. Within the class of policy function iteration methods, we advocate using time iteration with linear …