01640cam a22002537 4500001000700000003000500007005001700012008004100029100002100070245014900091260006600240490004200306500002000348520055100368530006100919538007200980538003601052690010101088700001901189700002101208710004201229830007701271856003801348w17418NBER20140418073718.0140418s2011 mau||||fs|||| 000 0 eng d1 aJudd, Kenneth L.10aHow to Solve Dynamic Stochastic Models Computing Expectations Just Onceh[electronic resource] /cKenneth L. Judd, Lilia Maliar, Serguei Maliar. aCambridge, Mass.bNational Bureau of Economic Researchc2011.1 aNBER working paper seriesvno. w17418 aSeptember 2011.3 aWe introduce a technique called "precomputation of integrals" that makes it possible to compute conditional expectations in dynamic stochastic models in the initial stage of the solution procedure. This technique can be applied to any set of equations that contains conditional expectations, in particular, to the Bellman and Euler equations. After the integrals are precomputed, we can solve stochastic models as if they were deterministic. We illustrate the benefits of precomputation of integrals using one- and multi-agent numerical examples. aHardcopy version available to institutional subscribers. aSystem requirements: Adobe [Acrobat] Reader required for PDF files. aMode of access: World Wide Web. 7aC63 - Computational Techniques • Simulation Modeling2Journal of Economic Literature class.1 aMaliar, Lilia.1 aMaliar, Serguei.2 aNational Bureau of Economic Research. 0aWorking Paper Series (National Bureau of Economic Research)vno. w17418.4 uhttp://www.nber.org/papers/w17418