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Nonlinear Programming Method for Dynamic Programming
Cai, Yongyang - 2013
the linear approach to dynamic programming by using ideas from approximation theory to avoid inefficient discretization …
Persistent link: https://www.econbiz.de/10013082154
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Solving Dynamic Programming Problems on a Computational Grid
Cai, Yongyang - 2013
We implement a dynamic programming algorithm on a computational grid consisting of loosely coupled processors, possibly … leave the pool of workstations. The algorithm is implemented using the Master-Worker library running on the HTCondor grid …
Persistent link: https://www.econbiz.de/10013088396
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Dynamic Optimization in Two-Party Models
McKibbin, Warwick J.; Roubini, Nouriel; Sachs, Jeffrey D. - 2021
problem we develop a numerical dynamic programming algorithm to solve for optimal policies of each party taking into account …
Persistent link: https://www.econbiz.de/10013218965
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A Conic Algorithm for the Group Minimization Problem
Simeone, Bruno - 2021
A new algorithm for the group minimization problem (GP) is proposed. The algorithm can be broadly described as follows …-known algorithm of Glover, and checked for non-negativity. The first non-negative point is an optimal solution of (GP). Advantages and … disadvantages of the algorithm are discussed; in particular, the implementation of the algorithm (which can be easily extended so as …
Persistent link: https://www.econbiz.de/10013224215
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Intergenerational Long Term Effects of Preschool - Structural Estimates from a Discrete Dynamic Programming Model
Heckman, James J. - 2013
This paper formulates a structural dynamic programming model of preschool investment choices of altruistic parents and then empirically estimates the structural parameters of the model using the NLSY79 data. The paper finds that preschool investment significantly boosts cognitive and...
Persistent link: https://www.econbiz.de/10013081261
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The Welfare Gains from Macro-Insurance Against Natural Disasters
Borensztein, Eduardo - 2015
This paper uses a dynamic optimization model to estimate the welfare gains that a small open economy can derive from insuring against natural disasters with catastrophe (CAT) bonds. We calibrate the model by reference to the risk of earthquakes, floods and storms in developing countries. We find...
Persistent link: https://www.econbiz.de/10013013167
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The Economics of Labor Adjustment : Mind the Gap
Cooper, Russell; Willis, Jonathan L. - 2021
We study the inferences about labor adjustment costs obtained by the 'gap methodology' of Caballero and Engel [1993] and Caballero, Engel and Haltiwanger [1997]. In that approach, the policy function of a manufacturing plant is assumed to depend on the gap between a target and the current level...
Persistent link: https://www.econbiz.de/10013232426
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Nominal Income Targeting in an Open-Economy Optimizing Model
McCallum, Bennett T.; Nelson, Edward - 2021
conducting analysis in a macroeconomic model that is designed to respect both neoclassical theory and empirical regularities …
Persistent link: https://www.econbiz.de/10013236691
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The Cost of Labor Adjustment : Inferences from the Gap
Cooper, Russell; Willis, Jonathan L. - 2022
We study labor adjustment costs. We specify a dynamic optimization problem at the plant-level, allowing for both convex and non-convex adjustment costs. We estimate the parameters of the adjustment process using an indirect inference procedure in which simulated moments are matched with data...
Persistent link: https://www.econbiz.de/10013322354
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Boundedly Rational Dynamic Programming : Some Preliminary Results
Gabaix, Xavier - 2012
A key open question in economics is the practical, portable modeling of bounded rationality. In this short note, I report ongoing progress that is more fully developed elsewhere. I present some results from a new model in which the decision-maker builds a simplified representation of the world....
Persistent link: https://www.econbiz.de/10013110191