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Minimum Weighted Residual Methods in Endogeneous Growth Models

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Author Info
Michal Kejak (CERGE-EI)

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Abstract

The paper deals with the application of Minimum Weighted Residual Methods (MWR) in intertemporal optimizing models of endogenous economic growth. In the 1st part of the paper the basics of the MWR method are described. Attention is mainly concentrated on one special class of MWR methods: the orthogonal collocation method with the Chebyshev polynomial basis. The second part of the paper is devoted to the setup of a model of endogenous growth with human capital accumulation and the government sector and to the derivation of 1st order conditions which form a Two- Point-Boundary-Value problem. A transformation of the problem which eliminates the growth in variables is then presented and the MWR method is used to solve the model for some policy experiments.

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File URL: http://129.3.20.41/eps/dev/papers/0012/0012013.pdf
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Publisher Info
Paper provided by EconWPA in its series Development and Comp Systems with number 0012013.

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Length: 16 pages
Date of creation: 19 Feb 2001
Date of revision:
Handle: RePEc:wpa:wuwpdc:0012013

Note: Type of Document - Acrobat PDF; pages: 16 ; figures: Included
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Web page: http://129.3.20.41

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Related research
Keywords: Numerical methods; Growth; Business Cycles; Computational Software;

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Find related papers by JEL classification:
C63 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Computational Techniques
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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This page was last updated on 2009-11-13.

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