Discrete State Space Value Function Iteration

Burkhard Heer and Alfred Maußner ()
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Alfred Maußner: University of Augsburg

Chapter Chapter 7 in Dynamic General Equilibrium Modeling, 2024, pp 369-409 from Springer

Abstract: Abstract The methods presented in the previous chapters use a system of stochastic difference equations that governs the time path of an economy to find approximations of the policy functions that determine the endogenous variables given the current state of the economy. In this chapter, we switch the perspective from the Euler equations approach to the dynamic programming approach

Date: 2024
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DOI: 10.1007/978-3-031-51681-8_7

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