The folder "EFP_MMTT_2020" contains MATLAB software for extended function path
algorithm (EFP) accompanying the article "A Tractable Framework for
Analyzing a Class of Nonstationary Markov Models" by Lilia Maliar,
Serguei Maliar, John B. Taylor and Inna Tsener, (2020), forthcoming in Quantitative 
Economics (earlier 2015 version is available from NBER working paper # 21155). 

First version: April 12, 2014.

This version: April 4, 2020.

The following items are provided: 

I. LICENSE AGREEMENT.

II. The folder "EFP_MMTT_2020" contains MATLAB files that solve the standard
one-agent neoclassical stochastic growth model with labor augmenting
technological progress 

  1. "Main_EFP.m"         computes an EFP solution to the nonstationary
                          neoclassical stochastic growth model with labor 
                          augmenting technological progress and compares 
                          it with a balanced growth path solution
  2. "GH_Quadrature.m"    constructs integration nodes and weights for
                          Gauss-Hermite quadrature integration; written 
                          by Lilia Maliar and Serguei Maliar for the
                          article "Numerically Stable and Accurate
                          Stochastic Simulation Approaches for Solving
                          Dynamic Economic Models", Quantitative Economics
                          2/2, 173-210 by Kenneth L. Judd, Lilia Maliar and
                          Serguei Maliar (henceforth, JMM (2011))
  3. "Ord_Polynomial_N.m" constructs the basis functions of complete ordinary
                          polynomial of the degrees from one to five for
                          N variables; written by Lilia Maliar and
                          Serguei Maliar for the JMM (2011) article
  4. "smolyak_grid_2d.txt"lists 2-dimensional Smolyak grid points for the
                          2nd level of approximation; see the software
                          accompanying the article "Smolyak Method for Solving
                          Dynamic Economic Models: Lagrange Interpolation,
                          Anisotropic Grid and Adaptive Domain", Journal of
                          Economic Dynamics and Control 44(C), 92-123 by Kenneth
                          L. Judd, Lilia Maliar, Serguei Maliar and Rafael
                          Valero, (2014) (henceforth, JMMV (2014))
  5. "epsi.mat"           contains the series of shocks of length 1,000 that 
                          are used for simulation and comparison of EFP and
                          balanced growth solutions

For updates and other related software, please, check the authors' web 
pages. For additional information, please, contact the corresponding 
author: Lilia Maliar, The Graduate Center, CUNY, Office 5313.01
365 Fifth Avenue, New York, NY 10016 USA, Email: lmaliar@gc.cuny.edu
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Copyright © 2014, 2015, 2020 by Lilia Maliar, Serguei Maliar, John B. Taylor 
and Inna Tsener. All rights reserved. The code may be used, modified and
redistributed under the terms provided in the file "License_Agreement.txt".
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