Chapter 5 Numerical solution of dynamic economic models

Manuel S. Santos

doi:10.1016/S1574-0048(99)01008-3

Chapter 5 Numerical solution of dynamic economic models

Manuel S. Santos

Economics

Research output: Contribution to journal › Review article

24 Scopus citations

Abstract

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.

Original language	English (US)
Pages (from-to)	311-386
Number of pages	76
Journal	Handbook of Macroeconomics
Volume	1
Issue number	PART A
DOIs	https://doi.org/10.1016/S1574-0048(99)01008-3
State	Published - Dec 1 1999

Keywords

Euler equation
approximation error
dynamic economic model
numerical algorithm
numerical solution
policy function
value function

ASJC Scopus subject areas

Economics and Econometrics
Economics, Econometrics and Finance (miscellaneous)

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Santos, M. S. (1999). Chapter 5 Numerical solution of dynamic economic models. Handbook of Macroeconomics, 1(PART A), 311-386. https://doi.org/10.1016/S1574-0048(99)01008-3

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KW - numerical algorithm

KW - numerical solution

KW - policy function

KW - value function

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