000			02540cam a22003977 4500
001			w28502
003			NBER
005			20211020103305.0
006			m o d
007			cr cnu||||||||
008			210910s2021 mau fo 000 0 eng d
100	1		_aCai, Yongyang.
245	1	2	_aA Simple but Powerful Simulated Certainty Equivalent Approximation Method for Dynamic Stochastic Problems / _cYongyang Cai, Kenneth L. Judd.
260			_aCambridge, Mass. _bNational Bureau of Economic Research _c2021.
300			_a1 online resource: _billustrations (black and white);
490	1		_aNBER working paper series _vno. w28502
500			_aFebruary 2021.
520	3		_aWe introduce a novel simulated certainty equivalent approximation (SCEQ) method for solving dynamic stochastic problems. Our examples show that this method only requires a desktop computer to solve high-dimensional finite- or infinite-horizon, stationary or nonstationary dynamic stochastic problems with hundreds of state variables, a wide state space, and occasionally binding constraints. The SCEQ method is simple, stable, and efficient, which makes it suitable for solving complex economic problems that cannot be solved by other algorithms.
530			_aHardcopy version available to institutional subscribers
538			_aSystem requirements: Adobe [Acrobat] Reader required for PDF files.
538			_aMode of access: World Wide Web.
588	0		_aPrint version record
690		7	_aC61 - Optimization Techniques • Programming Models • Dynamic Analysis _2Journal of Economic Literature class.
690		7	_aC63 - Computational Techniques • Simulation Modeling _2Journal of Economic Literature class.
690		7	_aC68 - Computable General Equilibrium Models _2Journal of Economic Literature class.
690		7	_aE31 - Price Level • Inflation • Deflation _2Journal of Economic Literature class.
690		7	_aE52 - Monetary Policy _2Journal of Economic Literature class.
690		7	_aQ54 - Climate • Natural Disasters and Their Management • Global Warming _2Journal of Economic Literature class.
690		7	_aQ58 - Government Policy _2Journal of Economic Literature class.
700	1		_aJudd, Kenneth L. _913819
710	2		_aNational Bureau of Economic Research.
830		0	_aWorking Paper Series (National Bureau of Economic Research) _vno. w28502.
856	4	0	_uhttps://www.nber.org/papers/w28502
856			_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w28502
942			_2ddc _cW-PAPER
999			_c319622 _d278184