We introduce an algorithm for solving dynamic economic models that merges stochastic simulation and projection … approaches: we use simulation to approximate the ergodic measure of the solution, we construct a fixed grid covering the support … support of the ergodic measure roughly uniformly. The proposed algorithm is tractable in problems with high dimensionality …

We introduce a numerical algorithm for solving dynamic economic models that merges stochastic simulation and projection … approaches: we use simulation to approximate the ergodic measure of the solution, we cover the support of the constructed ergodic … rates. The proposed solution algorithm is tractable in problems with high dimensionality (hundreds of state variables) on a …

We introduce an algorithm for solving dynamic economic models that merges stochastic simulation and projection … approaches: we use simulation to approximate the ergodic measure of the solution, we construct a fixed grid covering the support … support of the ergodic measure roughly uniformly. The proposed algorithm is tractable in problems with high dimensionality …