Maliar, L. and S. Maliar
Economic Letters – 87 (2005) 135–140
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Keywords: Nonlinear stochastic models,Value function,Parameterized expectations,Monte Carlo simulations,Numerical Methods


Abstract: This paper presents an algorithm for solving nonlinear dynamic stochastic models that computes value function by simulations. We argue that the proposed algorithm can be a useful alternative to the existing methods in some applications.