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dc.contributor.author
Miftakhova, Alena
dc.contributor.author
Schmedders, Karl
dc.contributor.author
Schumacher, Malte
dc.date.accessioned
2020-10-13T09:32:41Z
dc.date.available
2020-10-06T12:58:10Z
dc.date.available
2020-10-13T09:32:41Z
dc.date.issued
2020-08
dc.identifier.issn
1941-1383
dc.identifier.issn
1941-1391
dc.identifier.other
10.1146/annurev-economics-080218-025711
en_US
dc.identifier.uri
http://hdl.handle.net/20.500.11850/444781
dc.description.abstract
The analysis of dynamic economic models routinely leads to the mathematical problem of determining an unknown function for which no closed-form solution exists. Economists must then resort to methods of numerical approximation when analyzing such models. Among the computational methods that have been successfully applied in economics and finance, one set of techniques stands out due to its flexibility and robustness: projection methods. In this article, we describe the basic steps of these methods for several different applications, surveying many successful applications of projection methods to dynamic economic models. Importantly, we emphasize that the ever-increasing complexity and dimensionality of dynamic models have made the previously used simpler methods obsolete and the applications of projection methods all but mandatory. We closely examine the most recent endeavors in the literature on solving economic models with projection methods.
en_US
dc.language.iso
en
en_US
dc.publisher
Annual Reviews
en_US
dc.subject
dynamic models
en_US
dc.subject
equilibria
en_US
dc.subject
nonlinearities
en_US
dc.subject
projection methods
en_US
dc.title
Computing Economic Equilibria Using Projection Methods
en_US
dc.type
Review Article
dc.date.published
2020-05-29
ethz.journal.title
Annual Review of Economics
ethz.journal.volume
12
en_US
ethz.journal.issue
1
en_US
ethz.pages.start
317
en_US
ethz.pages.end
353
en_US
ethz.code.jel
JEL - JEL::C - Mathematical and Quantitative Methods::C6 - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling::C61 - Optimization Techniques; Programming Models; Dynamic Analysis
en_US
ethz.code.jel
JEL - JEL::C - Mathematical and Quantitative Methods::C6 - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling::C63 - Computational Techniques; Simulation Modeling
en_US
ethz.code.jel
JEL - JEL::D - Microeconomics::D5 - General Equilibrium and Disequilibrium::D58 - Computable and Other Applied General Equilibrium Models
en_US
ethz.code.jel
JEL - JEL::G - Financial Economics::G1 - General Financial Markets::G12 - Asset Pricing; Trading Volume; Bond Interest Rates
en_US
ethz.code.jel
JEL - JEL::J - Labor and Demographic Economics::J6 - Mobility, Unemployment, Vacancies, and Immigrant Workers::J64 - Unemployment: Models, Duration, Incidence, and Job Search
en_US
ethz.code.jel
JEL - JEL::Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics::Q5 - Environmental Economics::Q54 - Climate; Natural Disasters and Their Management; Global Warming
en_US
ethz.identifier.scopus
ethz.publication.place
Palo Alto, CA
en_US
ethz.publication.status
published
en_US
ethz.leitzahl
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02120 - Dep. Management, Technologie und Ökon. / Dep. of Management, Technology, and Ec.::03635 - Bretschger, Lucas (emeritus) / Bretschger, Lucas (emeritus)
en_US
ethz.leitzahl.certified
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02120 - Dep. Management, Technologie und Ökon. / Dep. of Management, Technology, and Ec.::03635 - Bretschger, Lucas (emeritus) / Bretschger, Lucas (emeritus)
en_US
ethz.date.deposited
2020-10-06T12:58:20Z
ethz.source
FORM
ethz.eth
yes
en_US
ethz.availability
Metadata only
en_US
ethz.rosetta.installDate
2020-10-13T09:32:54Z
ethz.rosetta.lastUpdated
2024-02-02T12:18:02Z
ethz.rosetta.versionExported
true
ethz.COinS
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