TAYLOR PROJECTION: A NEW SOLUTION METHOD FOR DYNAMIC GENERAL EQUILIBRIUM MODELS
提出一种新的动态均衡模型求解方法，用多项式逼近解，在给定点处使残差函数及其导数为零，算法本质是投影但更快，能求解远离稳态的状态点。
Abstract This article presents a new solution method for dynamic equilibrium models. The solution is approximated by polynomials that zero the residual function and its derivatives at a given point x 0 . The algorithm is essentially a type of projection but is significantly faster, since the problem is highly sparse and can be easily solved by a Newton solver. The obtained solution is accurate locally in the neighborhood of x 0 . Importantly, a local solution can be obtained at any point of the state space. This makes it possible to solve models at points that are further away from the steady state.