Minimum Weighted Residual Methods in Endogeneous Growth Models

CERGE-EI Working Paper Series No. 155

16 Pages Posted: 14 Jan 2010

See all articles by Michal Kejak

Michal Kejak

Charles University in Prague - CERGE-EI (Center for Economic Research and Graduate Education - Economics Institute)

Date Written: May 1, 2000

Abstract

The paper deals with the application of Minimum Weighted Residual Methods (MWR) in intertemporal optimizing models of endogenous economic growth. In the 1st part of the paper the basics of the MWR method are described. Attention is mainly concentrated on one special class of MWR methods: the orthogonal collocation method with the Chebyshev polynomial basis. The second part of the paper is devoted to the setup of a model of endogenous growth with human capital accumulation and the government sector and to the derivation of 1st order conditions which form a Two-Point-Boundary-Value problem. A transformation of the problem which eliminates the growth in variables is then presented and the MWR method is used to solve the model for some policy experiments.

Suggested Citation

Kejak, Michal, Minimum Weighted Residual Methods in Endogeneous Growth Models (May 1, 2000). CERGE-EI Working Paper Series No. 155, Available at SSRN: https://ssrn.com/abstract=1535913 or http://dx.doi.org/10.2139/ssrn.1535913

Michal Kejak (Contact Author)

Charles University in Prague - CERGE-EI (Center for Economic Research and Graduate Education - Economics Institute) ( email )

Politickych veznu 7
Prague 1, 111 21
Czech Republic

HOME PAGE: http://www.cerge-ei.cz

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