Application of Weighted Residual Methods to Dynamic Economic Models, Finite Element Methods
AbstractThis code supports the text in Ellen McGrattan, Application of Weighted Residual Methods to Dynamic Economic Models, in Ramon Marimon and Andrew Scott (eds), Computational Methods for the Study of Dynamic Economies, Chapter 6, Oxford University Press. This chapter describes the weighted residual method and the finite element method: Both can be used to approximate value functions, when it is impossible to derive the analytical solution. (This can happen when the Bellman equation is complicated).
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Bibliographic InfoSoftware component provided by Quantitative Macroeconomics & Real Business Cycles in its series QM&RBC Codes with number 126.
Programming language: Matlab
Date of creation: 1998
Date of revision:
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