Value Function Iteration as a Solution Method for the Ramsey Model

Value function iteration is one of the standard tools for the solution of the Ramsey model. We compare six different ways of value function iteration with regard to speed and precision. We find that value function iteration with cubic spline interpolation between grid points dominates the other methods in most cases. For the initialization of the value function over a fine grid, modified policy function iteration over a coarse grid and subsequent linear interpolation between the grid points provides a very efficient way to reduce computational time.value function iteration, policy function iteration, Howard’s algorithm, acceleration, cubic interpolation, stochastic Ramsey model

Data dependence results of a new multistep and S-iterative schemes for contractive-like operators

In this paper, we prove that convergence of a new iteration and S-iteration can be used to approximate to the fixed points of contractive-like operators. We also prove some data dependence results of this new iteration and S-iteration schemes for contractive-like operators. Our results extend and improve some known results in the literature.Comment: arXiv admin note: text overlap with arXiv:1211.570