Asymptotic methods for aggregate growth models

被引:58
作者
Judd, KL
Guu, SM
机构
关键词
perturbation methods; numerical dynamic programming;
D O I
10.1016/S0165-1889(97)00015-8
中图分类号
F [经济];
学科分类号
02 ;
摘要
We use perturbation methods to compute optimal policy functions in simple continuous-and discrete-time aggregate growth models. We demonstrate that computing the kth degree Taylor expansion of the policy function around the steady state involves solving one quadratic equation and k - 1 linear equations. We also compute Pade expansions, and show that both Taylor and Pade expansions can provide excellent solutions far from the steady state.
引用
收藏
页码:1025 / 1042
页数:18
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