; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Solving the Stochastic Growth Model With a Finite Element Method"; ; "batchuser@example.com"; "McGrattan, Ellen R."; "Federal Reserve Bank of Minneapolis"; "Growth model", "Finite element method"; "C63 - Computational Techniques; Simulation Modeling", "C68 - Computable General Equilibrium Models"; "Since it is the dominant paradigm of the business cycle and growth literatures, the stochastic growth model has been used to test the performance of alternative numerical methods. This paper applies the finite element method to this example. I show that the method is easy to apply and, for examples such as the stochastic growth method, gives accurate solutions within a second or two on a desktop computer. I also show how inequality constraints can be handled by redefining the optimization problem with penalty functions."^^; "1993-10"; "2019-09-14T01:08:42.512625696+00:00"^^; "https://doi.org/10.21034/sr.164"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "2020-10-07T17:15:34.652399604+00:00"^^; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "508"; "Staff report (Federal Reserve Bank of Minneapolis. Research Department)"; "164"; "Growth model", "Finite element method"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; """Published in: _Journal of Economic Dynamics and Control_ (Vol 20, Num 1-3, March 1996, pp. 19-42) https://doi.org/10.1016/0165-1889(94)00842-0. [Additional Files](https://researchdatabase.minneapolisfed.org/concern/datasets/p5547r42c?locale=en) [M-files and Ftools](https://researchdatabase.minneapolisfed.org/concern/datasets/765371353?locale=en) An earlier version of this Staff Report circulated as [Working Paper 514](https://doi.org/10.21034/wp.514)."""^^; ; "Publication" . ; .