The model is a household life-cycle model with home production and capital accumulation. The project aims to test the performance of different methods of value function iteration (VFI hereafter), ...

Abstract: Iteration is a special graphic transformation similar to the recursive algorithm in programs, which can effectively solve some specific mathematical problems. At present, most dynamic ...

Point-based value iteration starts with a set of vectors and generates a sequence of vector sets by repeatedly applying point-based update. The last set can be used to approximate the optimal value ...

In Python, the break statement is a control statement used to exit a loop prematurely. It allows you to terminate the current loop and resume execution of the program after the loop. Here's a simple ...