Application of Weighted Residual Methods to Dynamic Economic Models, Finite Element Methods

Ellen McGrattan

QM&RBC Codes from Quantitative Macroeconomics & Real Business Cycles

Abstract: This 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).

Language: Matlab
Date: 1998
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https://dge.repec.org/codes/marimon-scott/McGrattan/FEM/ program code (application/x-matlab)
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Persistent link: https://EconPapers.repec.org/RePEc:dge:qmrbcd:126

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