TAYLOR PROJECTION: A NEW SOLUTION METHOD FOR DYNAMIC GENERAL EQUILIBRIUM MODELS.
Abstract: This article presents a new solution method for dynamic equilibrium models. The solution is approximated by polynomials that zero the residual function and its derivatives at a given point x. The algorithm is essentially a type of projection but is significantly faster, since the problem i...
| Publicado en: | International Economic Review Vol. 59; no. 3; pp. 1345 - 1374 |
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| Formato: | Artículo |
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Wiley-Blackwell
Aug2018
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=131262058&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 131262058 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00206598 IER jtl: International Economic Review issn: 00206598 maglogo: Y pubinfo: dt: Aug2018 vid: 59 iid: 3 pid: 480 pub: Wiley-Blackwell artinfo: ui: 131262058 10.1111/iere.12306 ppf: 1345 ppct: 29 formats: tig: atl: TAYLOR PROJECTION: A NEW SOLUTION METHOD FOR DYNAMIC GENERAL EQUILIBRIUM MODELS. aug: au: Levintal, Oren affil: Interdisciplinary Center (IDC) Herzliya, Israel su: Economic equilibrium Mathematical models Polynomials Derivatives (Mathematics) Algorithms Newton-Raphson method State-space methods sug: subj: Economic equilibrium Mathematical models Polynomials Derivatives (Mathematics) Algorithms Newton-Raphson method State-space methods ab: Abstract: This article presents a new solution method for dynamic equilibrium models. The solution is approximated by polynomials that zero the residual function and its derivatives at a given point x. The algorithm is essentially a type of projection but is significantly faster, since the problem is highly sparse and can be easily solved by a Newton solver. The obtained solution is accurate locally in the neighborhood of x. Importantly, a local solution can be obtained at any point of the state space. This makes it possible to solve models at points that are further away from the steady state. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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