The paper presents a sparse grid approximation method based on the hyperbolic cross and applies it to solve non-linear macroeconomic models. We show how the standard hyperbolic cross can be extended to give greater control over the approximating grid and we discuss how to implement an...

This Economic Letter summarizes papers presented at the conference "Finance and Macroeconomics" held at the Federal Reserve Bank of San Francisco on February 28 and March 1, 2003, under the joint sponsorship of the Bank and the Stanford Institute for Economic Policy Research. The papers are...

In this Economic Letter, we summarize the key components of the GVAR model and discuss its usefulness for monetary policy applications and for credit risk management issues faced by financial institutions and their government supervisors. We argue that while the GVAR model is probably useful for...

The paper presents a sparse grid approximation method based on the hyperbolic cross and applies it to solve non-linear macroeconomic models. We show how the standard hyperbolic cross can be extended to give greater control over the approximating grid and we discuss how to implement an...

This Economic Letter summarizes the papers presented at a conference on "Labor Markets and the Macroeconomy" held at the Federal Reserve Bank of San Francisco on March 3 and 4, 2006.