Test Borrowing with Default (Small Grid, Save + Borr Dynamic Programming Problem)
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Testing the ff_abz_vf_vecsv program for solving the savings and borrowing dynamic programming problem.
Test the model by adjusting (1) borrowing bound (2) if default is allowed (3) when default is allowed adjusting the level of minimum consumption given default.
Here tabular solutions are printed out for small grid solution.
@seealso
- PRECISION: savings only quick vs benchmark testing: fsi_az_vf_vecsv_main
- PRECISION: savings only asset grid count testing: fsi_az_vf_vecsv_a_n
- PRECISION: savings only shock grid count testing: fsi_az_vf_vecsv_z_n
- BORROW GRID: borrowing choice grid with default: ffs_abz_get_funcgrid_defnodfalt
- BORROW: borrow and default small grid testing: ff_abz_vf_vecsv_default_small
- BORROW: borrow and default large grid testing: ff_abz_vf_vecsv_default_large
- PRECISION: borr + save quick vs benchmark testing: fsi_abz_vf_vecsv_main
- PRECISION: borr + save asset grid count testing: fsi_abz_vf_vecsv_a_n
- PRECISION: borr + save shock grid count testing: fsi_abz_vf_vecsv_z_n
Contents
Set Shared Parameters
close all; it_param_set = 1; % Shared parameters fl_a_max = 50; it_a_n = 60; fl_r_save = 0.025; % 10 percent savings interest rate fl_r_borr = 0.035; fl_w = 1; it_maxiter_val = 1000; it_z_n = 7; % Display Etc. bl_display = false; bl_post = true; bl_display_final = true;
Simulate Savinags only
for the output optimal choice matrix, look at each row, if the next period a at the lowest level of shock is below current a, that means there is nonzero chance of going to lower asset level from this point. Similarly for higher point. If at a current asset point, for all shock levels, next period a choice is equal or below current period asset level, this asset level will have zero probability in the stationary distribution. For the distribution to be non-degenerate, there must be no rows where a'(a,z) == a for all z. see ffs_abz_get_funcgrid_nodefault for additional information.
[param_map, support_map] = ffs_abz_set_default_param(it_param_set); % control saving, borrowing, default param_map('fl_b_bd') = 0; param_map('bl_default') = 0; % shared parameters param_map('fl_a_min') = 0; param_map('fl_a_max') = fl_a_max; param_map('it_a_n') = it_a_n; param_map('fl_r_save') = fl_r_save; param_map('fl_r_borr') = fl_r_borr; param_map('fl_w') = fl_w; % solution param_map('it_z_n') = it_z_n; param_map('it_maxiter_val') = it_maxiter_val; % Display Parameters support_map('bl_display') = bl_display; support_map('bl_post') = bl_post; support_map('bl_display_final') = bl_display_final; % Call Program ff_abz_vf_vecsv(param_map, support_map);
Elapsed time is 0.109300 seconds.
valgap = norm(mt_val - mt_val_cur): value function difference across iterations
polgap = norm(mt_pol_a - mt_pol_a_cur): policy function difference across iterations
z1 = z1 perc change: sum((mt_pol_a ~= mt_pol_a_cur))/(it_a_n): percentage of state space points conditional on shock where the policy function is changing across iterations
valgap polgap z1 z2 z3 z4 z5 z6 z7
__________ _______ ________ ________ ________ ________ ________ ________ ________
iter=1 31.45 20.494 1 1 1 1 1 1 1
iter=2 23.709 296.54 0.96667 0.96667 0.96667 0.98333 0.98333 0.98333 0.98333
iter=3 19.289 98.43 0.93333 0.93333 0.93333 0.93333 0.95 0.95 0.95
iter=4 16.101 49.574 0.88333 0.88333 0.88333 0.88333 0.9 0.9 0.95
iter=5 13.637 30.254 0.81667 0.81667 0.81667 0.85 0.81667 0.83333 0.88333
iter=6 11.66 20.399 0.73333 0.73333 0.73333 0.73333 0.73333 0.75 0.81667
iter=7 10.037 14.696 0.63333 0.63333 0.63333 0.63333 0.63333 0.65 0.7
iter=8 8.6829 11.312 0.51667 0.51667 0.51667 0.51667 0.51667 0.53333 0.6
iter=9 7.5394 9.2392 0.4 0.4 0.4 0.41667 0.36667 0.41667 0.46667
iter=10 6.5663 8.2216 0.33333 0.33333 0.33333 0.33333 0.33333 0.35 0.38333
iter=11 5.7322 6.9111 0.25 0.25 0.25 0.25 0.26667 0.25 0.31667
iter=12 5.0095 6.5453 0.2 0.23333 0.23333 0.23333 0.16667 0.25 0.21667
iter=13 4.3865 5.2113 0.15 0.15 0.16667 0.16667 0.18333 0.16667 0.23333
iter=14 3.8451 4.8264 0.11667 0.13333 0.16667 0.16667 0.15 0.16667 0.16667
iter=15 3.3667 4.2955 0.11667 0.13333 0.15 0.15 0.11667 0.15 0.11667
iter=16 2.9546 3.1411 0.083333 0.1 0.1 0.1 0.1 0.1 0.13333
iter=17 2.5943 2.8704 0.066667 0.066667 0.083333 0.1 0.1 0.1 0.13333
iter=18 2.2743 2.5033 0.05 0.066667 0.083333 0.1 0.1 0.066667 0.1
iter=19 1.992 2.1659 0.05 0.05 0.066667 0.1 0.05 0.083333 0.05
iter=20 1.7445 1.895 0.05 0.05 0.066667 0.083333 0.05 0.066667 0.066667
iter=21 1.5298 2.1708 0.05 0.033333 0.066667 0.05 0.05 0.083333 0.066667
iter=22 1.3418 1.9392 0.05 0.066667 0.033333 0.05 0.05 0.066667 0.066667
iter=23 1.1736 1.6949 0.05 0.05 0.033333 0.066667 0.05 0.016667 0.033333
iter=24 1.0238 1.6949 0.05 0.033333 0.016667 0.016667 0.033333 0.033333 0.066667
iter=25 0.8919 1.4678 0.016667 0.016667 0.033333 0.033333 0.05 0.016667 0.05
iter=26 0.77683 1.5659 0.016667 0 0.016667 0.033333 0.05 0.033333 0.05
iter=27 0.67681 1.1985 0.016667 0.033333 0.016667 0.033333 0.033333 0.016667 0
iter=28 0.58999 1.4678 0.016667 0.016667 0.016667 0.033333 0.05 0.033333 0.016667
iter=29 0.51444 1.3712 0.016667 0.016667 0.033333 0.033333 0 0.016667 0.016667
iter=30 0.44859 1.1985 0.016667 0.016667 0 0.016667 0.016667 0.016667 0.033333
iter=31 0.39138 0.84746 0.016667 0.016667 0.016667 0.016667 0.016667 0.016667 0.016667
iter=32 0.34151 1.1985 0 0 0.016667 0.033333 0.016667 0.033333 0
iter=33 0.29796 0.84746 0.016667 0.016667 0.016667 0 0 0 0.016667
iter=34 0.26003 1.1985 0.016667 0.016667 0.016667 0.016667 0.016667 0.016667 0.016667
iter=35 0.22727 0.84746 0 0.016667 0 0.016667 0 0.016667 0
iter=36 0.19937 1.1985 0.016667 0 0.016667 0.033333 0.033333 0.016667 0.016667
iter=37 0.17612 0.84746 0 0.016667 0.016667 0.016667 0 0 0.016667
iter=38 0.15718 0.84746 0.016667 0 0 0 0.016667 0.016667 0
iter=39 0.14211 0.84746 0 0.016667 0.016667 0 0 0.016667 0.016667
iter=40 0.13035 0.84746 0 0 0 0 0.016667 0.016667 0
iter=41 0.12116 1.1985 0 0.016667 0.033333 0 0 0.016667 0.016667
iter=42 0.11394 0.84746 0.016667 0 0 0 0 0.016667 0
iter=43 0.10811 0.84746 0 0 0.016667 0 0 0 0
iter=44 0.10323 0.84746 0 0 0 0 0 0.016667 0.016667
iter=45 0.098924 0.84746 0 0 0 0 0 0 0.016667
iter=46 0.094946 0.84746 0 0.016667 0.016667 0 0.016667 0 0
iter=47 0.091161 0.84746 0 0 0 0 0 0.016667 0
iter=48 0.087486 0.84746 0 0 0 0 0 0 0.016667
iter=49 0.083876 0.84746 0.016667 0 0 0 0 0 0
iter=50 0.080319 0 0 0 0 0 0 0 0
iter=150 0.00020411 0 0 0 0 0 0 0 0
iter=151 0.00019186 0 0 0 0 0 0 0 0
iter=152 0.00018035 0 0 0 0 0 0 0 0
iter=153 0.00016953 0 0 0 0 0 0 0 0
iter=154 0.00015936 0 0 0 0 0 0 0 0
iter=155 0.0001498 0 0 0 0 0 0 0 0
iter=156 0.00014081 0 0 0 0 0 0 0 0
iter=157 0.00013236 0 0 0 0 0 0 0 0
iter=158 0.00012442 0 0 0 0 0 0 0 0
iter=159 0.00011696 0 0 0 0 0 0 0 0
iter=160 0.00010994 0 0 0 0 0 0 0 0
iter=161 0.00010334 0 0 0 0 0 0 0 0
iter=162 9.7144e-05 0 0 0 0 0 0 0 0
iter=163 9.1316e-05 0 0 0 0 0 0 0 0
iter=164 8.5837e-05 0 0 0 0 0 0 0 0
iter=165 8.0687e-05 0 0 0 0 0 0 0 0
iter=166 7.5846e-05 0 0 0 0 0 0 0 0
iter=167 7.1296e-05 0 0 0 0 0 0 0 0
iter=168 6.7018e-05 0 0 0 0 0 0 0 0
iter=169 6.2997e-05 0 0 0 0 0 0 0 0
iter=170 5.9217e-05 0 0 0 0 0 0 0 0
iter=171 5.5664e-05 0 0 0 0 0 0 0 0
iter=172 5.2325e-05 0 0 0 0 0 0 0 0
iter=173 4.9185e-05 0 0 0 0 0 0 0 0
iter=174 4.6234e-05 0 0 0 0 0 0 0 0
iter=175 4.346e-05 0 0 0 0 0 0 0 0
iter=176 4.0853e-05 0 0 0 0 0 0 0 0
iter=177 3.8401e-05 0 0 0 0 0 0 0 0
iter=178 3.6097e-05 0 0 0 0 0 0 0 0
iter=179 3.3932e-05 0 0 0 0 0 0 0 0
iter=180 3.1896e-05 0 0 0 0 0 0 0 0
iter=181 2.9982e-05 0 0 0 0 0 0 0 0
iter=182 2.8183e-05 0 0 0 0 0 0 0 0
iter=183 2.6492e-05 0 0 0 0 0 0 0 0
iter=184 2.4903e-05 0 0 0 0 0 0 0 0
iter=185 2.3408e-05 0 0 0 0 0 0 0 0
iter=186 2.2004e-05 0 0 0 0 0 0 0 0
iter=187 2.0684e-05 0 0 0 0 0 0 0 0
iter=188 1.9443e-05 0 0 0 0 0 0 0 0
iter=189 1.8276e-05 0 0 0 0 0 0 0 0
iter=190 1.718e-05 0 0 0 0 0 0 0 0
iter=191 1.6149e-05 0 0 0 0 0 0 0 0
iter=192 1.518e-05 0 0 0 0 0 0 0 0
iter=193 1.4269e-05 0 0 0 0 0 0 0 0
iter=194 1.3413e-05 0 0 0 0 0 0 0 0
iter=195 1.2608e-05 0 0 0 0 0 0 0 0
iter=196 1.1852e-05 0 0 0 0 0 0 0 0
iter=197 1.1141e-05 0 0 0 0 0 0 0 0
iter=198 1.0472e-05 0 0 0 0 0 0 0 0
iter=199 9.8439e-06 0 0 0 0 0 0 0 0
tb_val: V(a,z) value at each state space point
z1_0_34387 z2_0_47991 z3_0_66977 z4_0_93474 z5_1_3045 z6_1_8206 z7_2_5409
__________ __________ __________ __________ _________ _________ _________
a1=0 -6.46 -4.7322 -3.1017 -1.6231 -0.28345 0.94796 2.2797
a2=0.847458 -4.8657 -3.5674 -2.2703 -0.95867 0.29411 1.4658 2.7244
a3=1.69492 -3.601 -2.5734 -1.4885 -0.33268 0.83963 1.9554 3.144
a4=2.54237 -2.5544 -1.7004 -0.76424 0.25086 1.3501 2.4148 3.5422
a5=3.38983 -1.6576 -0.92121 -0.097369 0.79304 1.8266 2.8458 3.9266
a6=4.23729 -0.86982 -0.21863 0.51584 1.3183 2.2874 3.2626 4.2964
a7=5.08475 -0.16615 0.42015 1.0864 1.8249 2.7313 3.6643 4.6507
a8=5.9322 0.47025 1.0068 1.6212 2.3095 3.1564 4.0492 4.9894
a9=6.77966 1.0522 1.5503 2.1242 2.7711 3.5621 4.4169 5.3131
a10=7.62712 1.5894 2.0572 2.5986 3.21 3.9488 4.768 5.6225
a11=8.47458 2.0891 2.5325 3.0466 3.6269 4.3171 5.1029 5.9188
a12=9.32203 2.5566 2.9796 3.4705 4.023 4.6681 5.4226 6.2032
a13=10.1695 2.9961 3.4016 3.872 4.3992 5.0027 5.7282 6.4776
a14=11.0169 3.4107 3.8008 4.2528 4.757 5.3219 6.0208 6.7454
a15=11.8644 3.8028 4.1791 4.6144 5.0974 5.635 6.3068 7.0055
a16=12.7119 4.1745 4.5382 4.9583 5.4232 5.9398 6.5851 7.2574
a17=13.5593 4.5276 4.8797 5.2862 5.7357 6.235 6.8545 7.5011
a18=14.4068 4.8635 5.2052 5.5996 6.0359 6.5201 7.1149 7.737
a19=15.2542 5.1838 5.5161 5.8998 6.3243 6.795 7.3664 7.9658
a20=16.1017 5.4986 5.8135 6.1876 6.6016 7.0601 7.6094 8.1888
a21=16.9492 5.7995 6.0992 6.4639 6.8684 7.3155 7.8443 8.4087
a22=17.7966 6.091 6.3749 6.7296 7.1252 7.5617 8.0712 8.6216
a23=18.6441 6.3706 6.6452 6.9855 7.3726 7.7992 8.2903 8.8274
a24=19.4915 6.6408 6.9059 7.2326 7.611 8.0282 8.5019 9.0262
a25=20.339 6.903 7.1593 7.4712 7.8411 8.2493 8.7064 9.2185
a26=21.1864 7.1563 7.404 7.7019 8.0634 8.4627 8.9041 9.4046
a27=22.0339 7.4023 7.6411 7.9285 8.2783 8.669 9.0955 9.5848
a28=22.8814 7.6399 7.8704 8.1487 8.4867 8.8686 9.2832 9.7613
a29=23.7288 7.8708 8.0938 8.3635 8.689 9.0623 9.4676 9.9345
a30=24.5763 8.094 8.3103 8.5722 8.8856 9.2505 9.6479 10.104
a31=25.4237 8.3114 8.5214 8.7755 9.0768 9.4337 9.8237 10.269
a32=26.2712 8.522 8.7263 8.9729 9.2629 9.6121 9.9951 10.43
a33=27.1186 8.7273 8.926 9.1654 9.4441 9.7858 10.162 10.587
a34=27.9661 8.9264 9.1199 9.3524 9.623 9.9551 10.325 10.74
a35=28.8136 9.1206 9.309 9.5347 9.7975 10.121 10.484 10.89
a36=29.661 9.3091 9.4928 9.7127 9.9689 10.283 10.639 11.036
a37=30.5085 9.4931 9.672 9.8863 10.136 10.441 10.791 11.179
a38=31.3559 9.6719 9.8467 10.056 10.3 10.596 10.939 11.319
a39=32.2034 9.8464 10.017 10.222 10.46 10.748 11.084 11.456
a40=33.0508 10.016 10.184 10.384 10.617 10.897 11.226 11.59
a41=33.8983 10.182 10.346 10.542 10.77 11.042 11.366 11.722
a42=34.7458 10.344 10.505 10.697 10.92 11.184 11.502 11.851
a43=35.5932 10.502 10.66 10.848 11.067 11.324 11.636 11.977
a44=36.4407 10.657 10.811 10.996 11.211 11.46 11.767 12.101
a45=37.2881 10.808 10.959 11.141 11.351 11.595 11.895 12.223
a46=38.1356 10.955 11.104 11.283 11.489 11.727 12.021 12.342
a47=38.9831 11.099 11.246 11.421 11.624 11.857 12.144 12.459
a48=39.8305 11.24 11.385 11.557 11.756 11.985 12.266 12.575
a49=40.678 11.378 11.52 11.69 11.885 12.111 12.386 12.688
a50=41.5254 11.514 11.653 11.82 12.013 12.234 12.503 12.8
a51=42.3729 11.647 11.784 11.948 12.137 12.355 12.619 12.91
a52=43.2203 11.778 11.911 12.073 12.26 12.474 12.733 13.018
a53=44.0678 11.906 12.036 12.196 12.38 12.591 12.844 13.125
a54=44.9153 12.032 12.159 12.316 12.498 12.706 12.954 13.23
a55=45.7627 12.156 12.28 12.434 12.613 12.819 13.062 13.334
a56=46.6102 12.278 12.399 12.55 12.727 12.93 13.168 13.437
a57=47.4576 12.397 12.516 12.664 12.838 13.038 13.273 13.538
a58=48.3051 12.514 12.632 12.776 12.948 13.145 13.375 13.637
a59=49.1525 12.629 12.745 12.885 13.055 13.25 13.476 13.734
a60=50 12.743 12.856 12.993 13.161 13.353 13.575 13.83
tb_pol_a: optimal asset choice for each state space point
z1_0_34387 z2_0_47991 z3_0_66977 z4_0_93474 z5_1_3045 z6_1_8206 z7_2_5409
__________ __________ __________ __________ _________ _________ _________
a1=0 0 0 0 0 0 0 0.84746
a2=0.847458 0 0 0 0.84746 0.84746 0.84746 1.6949
a3=1.69492 0.84746 0.84746 0.84746 1.6949 1.6949 1.6949 2.5424
a4=2.54237 1.6949 1.6949 1.6949 2.5424 2.5424 2.5424 3.3898
a5=3.38983 2.5424 2.5424 2.5424 3.3898 3.3898 3.3898 4.2373
a6=4.23729 3.3898 3.3898 3.3898 3.3898 4.2373 4.2373 5.0847
a7=5.08475 4.2373 4.2373 4.2373 4.2373 5.0847 5.0847 5.9322
a8=5.9322 5.0847 5.0847 5.0847 5.0847 5.9322 5.9322 6.7797
a9=6.77966 5.9322 5.9322 5.9322 5.9322 6.7797 6.7797 7.6271
a10=7.62712 6.7797 6.7797 6.7797 6.7797 7.6271 7.6271 8.4746
a11=8.47458 7.6271 7.6271 7.6271 7.6271 8.4746 8.4746 9.322
a12=9.32203 8.4746 8.4746 8.4746 8.4746 9.322 9.322 10.169
a13=10.1695 9.322 9.322 9.322 9.322 10.169 10.169 11.017
a14=11.0169 10.169 10.169 10.169 10.169 11.017 11.017 11.864
a15=11.8644 11.017 11.017 11.017 11.017 11.017 11.864 12.712
a16=12.7119 11.864 11.864 11.864 11.864 11.864 12.712 13.559
a17=13.5593 12.712 12.712 12.712 12.712 12.712 13.559 14.407
a18=14.4068 13.559 13.559 13.559 13.559 13.559 14.407 15.254
a19=15.2542 14.407 14.407 14.407 14.407 14.407 15.254 16.102
a20=16.1017 14.407 15.254 15.254 15.254 15.254 16.102 16.949
a21=16.9492 15.254 16.102 16.102 16.102 16.102 16.949 16.949
a22=17.7966 16.102 16.102 16.949 16.949 16.949 17.797 17.797
a23=18.6441 16.949 16.949 17.797 17.797 17.797 18.644 18.644
a24=19.4915 17.797 17.797 18.644 18.644 18.644 19.492 19.492
a25=20.339 18.644 18.644 19.492 19.492 19.492 20.339 20.339
a26=21.1864 19.492 19.492 20.339 20.339 20.339 21.186 21.186
a27=22.0339 20.339 20.339 20.339 21.186 21.186 22.034 22.034
a28=22.8814 21.186 21.186 21.186 22.034 22.034 22.034 22.881
a29=23.7288 22.034 22.034 22.034 22.881 22.881 22.881 23.729
a30=24.5763 22.881 22.881 22.881 23.729 23.729 23.729 24.576
a31=25.4237 23.729 23.729 23.729 24.576 24.576 24.576 25.424
a32=26.2712 24.576 24.576 24.576 25.424 25.424 25.424 26.271
a33=27.1186 25.424 25.424 25.424 26.271 26.271 26.271 27.119
a34=27.9661 26.271 26.271 26.271 26.271 27.119 27.119 27.966
a35=28.8136 27.119 27.119 27.119 27.119 27.966 27.966 28.814
a36=29.661 27.966 27.966 27.966 27.966 28.814 28.814 29.661
a37=30.5085 28.814 28.814 28.814 28.814 29.661 29.661 30.508
a38=31.3559 29.661 29.661 29.661 29.661 30.508 30.508 31.356
a39=32.2034 30.508 30.508 30.508 30.508 31.356 31.356 32.203
a40=33.0508 31.356 31.356 31.356 31.356 32.203 32.203 33.051
a41=33.8983 32.203 32.203 32.203 32.203 33.051 33.051 33.898
a42=34.7458 33.051 33.051 33.051 33.051 33.898 33.898 34.746
a43=35.5932 33.898 33.898 33.898 33.898 34.746 34.746 35.593
a44=36.4407 34.746 34.746 34.746 34.746 35.593 35.593 36.441
a45=37.2881 35.593 35.593 35.593 35.593 35.593 36.441 37.288
a46=38.1356 36.441 36.441 36.441 36.441 36.441 37.288 38.136
a47=38.9831 37.288 37.288 37.288 37.288 37.288 38.136 38.983
a48=39.8305 38.136 38.136 38.136 38.136 38.136 38.983 39.831
a49=40.678 38.983 38.983 38.983 38.983 38.983 39.831 40.678
a50=41.5254 39.831 39.831 39.831 39.831 39.831 40.678 41.525
a51=42.3729 39.831 40.678 40.678 40.678 40.678 41.525 42.373
a52=43.2203 40.678 41.525 41.525 41.525 41.525 42.373 42.373
a53=44.0678 41.525 42.373 42.373 42.373 42.373 43.22 43.22
a54=44.9153 42.373 43.22 43.22 43.22 43.22 44.068 44.068
a55=45.7627 43.22 43.22 44.068 44.068 44.068 44.915 44.915
a56=46.6102 44.068 44.068 44.915 44.915 44.915 45.763 45.763
a57=47.4576 44.915 44.915 45.763 45.763 45.763 46.61 46.61
a58=48.3051 45.763 45.763 46.61 46.61 46.61 47.458 47.458
a59=49.1525 46.61 46.61 47.458 47.458 47.458 48.305 48.305
a60=50 47.458 47.458 47.458 48.305 48.305 49.153 49.153
Simulate Save/Borrow No Default
See each asset state row, if for negative asset levels, at all levels of shocks, a'(a,z) >= a for all a <0 for all z, that means there will be no borrowing in the stationary distribution. Similarly if a'(a,z) <= a for all a > 0 and all z, there will be no savings in the stationary distribution. For the distribution to be non-degenerate, there must be no rows where a'(a,z) == a for all z.
[param_map, support_map] = ffs_abz_set_default_param(it_param_set); % allow for borrowing, when using a very large negative value for fl_b_bd % that means the natural borrowing constraint will bind. param_map('fl_b_bd') = -100; param_map('bl_default') = 0; % shared parameters param_map('fl_a_min') = 0; param_map('fl_a_max') = fl_a_max; param_map('it_a_n') = it_a_n; param_map('fl_r_save') = fl_r_save; param_map('fl_r_borr') = fl_r_borr; param_map('fl_w') = fl_w; % solution param_map('it_z_n') = it_z_n; param_map('it_maxiter_val') = it_maxiter_val; % Display Parameters support_map('bl_display') = bl_display; support_map('bl_post') = bl_post; support_map('bl_display_final') = bl_display_final; % Call Program ff_abz_vf_vecsv(param_map, support_map);
Elapsed time is 0.089112 seconds.
valgap = norm(mt_val - mt_val_cur): value function difference across iterations
polgap = norm(mt_pol_a - mt_pol_a_cur): policy function difference across iterations
z1 = z1 perc change: sum((mt_pol_a ~= mt_pol_a_cur))/(it_a_n): percentage of state space points conditional on shock where the policy function is changing across iterations
valgap polgap z1 z2 z3 z4 z5 z6 z7
__________ ______ ________ ________ ________ ________ ________ ________ ________
iter=1 9999 182.36 1.0167 1.0167 1.0167 1.0167 1.0167 1.0167 1.0167
iter=2 630.61 355.3 1 1 1 1 1 1 1
iter=3 315.91 118.02 0.95 0.96667 0.96667 0.96667 0.96667 0.96667 0.96667
iter=4 193.96 59.497 0.9 0.9 0.88333 0.91667 0.91667 0.91667 0.93333
iter=5 136.32 35.77 0.85 0.85 0.86667 0.81667 0.85 0.85 0.91667
iter=6 104.86 24.577 0.71667 0.75 0.75 0.78333 0.78333 0.76667 0.78333
iter=7 85.682 17.331 0.63333 0.6 0.61667 0.65 0.63333 0.66667 0.71667
iter=8 72.8 13.56 0.51667 0.51667 0.55 0.5 0.51667 0.53333 0.6
iter=9 63.389 11.248 0.4 0.4 0.4 0.38333 0.38333 0.41667 0.45
iter=10 56.037 10.147 0.35 0.36667 0.33333 0.36667 0.33333 0.35 0.36667
iter=11 50.006 8.1879 0.26667 0.26667 0.26667 0.26667 0.31667 0.25 0.28333
iter=12 44.884 7.8515 0.21667 0.23333 0.25 0.26667 0.16667 0.26667 0.31667
iter=13 40.439 6.2364 0.16667 0.15 0.16667 0.15 0.2 0.2 0.2
iter=14 36.524 6.2789 0.16667 0.16667 0.16667 0.15 0.15 0.16667 0.18333
iter=15 33.041 5.8713 0.13333 0.15 0.13333 0.15 0.11667 0.16667 0.13333
iter=16 29.925 4.9029 0.13333 0.1 0.1 0.1 0.11667 0.1 0.11667
iter=17 27.124 4.544 0.066667 0.1 0.11667 0.1 0.11667 0.1 0.13333
iter=18 24.598 4.0808 0.066667 0.1 0.1 0.1 0.1 0.066667 0.11667
iter=19 22.317 3.4637 0.1 0.05 0.1 0.066667 0.066667 0.1 0.083333
iter=20 20.253 3.6883 0.083333 0.1 0.083333 0.083333 0.033333 0.083333 0.066667
iter=21 18.385 3.2414 0.05 0.083333 0.05 0.05 0.066667 0.1 0.05
iter=22 16.692 2.5433 0.066667 0.05 0.033333 0.05 0.05 0.066667 0.05
iter=23 15.157 2.4459 0.033333 0.033333 0.05 0.05 0.05 0.033333 0.083333
iter=24 13.765 2.1033 0.016667 0.033333 0.05 0.05 0.033333 0.033333 0.066667
iter=25 12.502 2.0706 0.016667 0.016667 0.05 0.05 0.05 0.05 0.033333
iter=26 11.357 2.028 0.05 0.05 0.033333 0.033333 0.05 0.016667 0.066667
iter=27 10.318 2.028 0.016667 0 0.05 0.066667 0.05 0.033333 0.05
iter=28 9.3746 1.7563 0.016667 0.05 0.016667 0.05 0.016667 0.016667 0.033333
iter=29 8.5191 1.7563 0.033333 0.016667 0.05 0.033333 0.016667 0.033333 0.033333
iter=30 7.7428 1.7563 0 0.033333 0.016667 0.05 0.016667 0.033333 0.033333
iter=31 7.0383 1.434 0.016667 0.016667 0.016667 0.016667 0.016667 0.016667 0.016667
iter=32 6.3989 1.434 0.016667 0 0.033333 0.016667 0.033333 0.033333 0
iter=33 5.8185 1.9287 0.016667 0.033333 0.033333 0.016667 0 0.05 0.033333
iter=34 5.2917 1.434 0.016667 0.016667 0.033333 0 0.016667 0 0.016667
iter=35 4.8134 1.014 0.016667 0 0 0.016667 0.016667 0.016667 0.016667
iter=36 4.3792 1.7563 0.016667 0.033333 0.016667 0.016667 0.016667 0.033333 0
iter=37 3.9851 1.014 0 0.016667 0.016667 0.016667 0 0 0.016667
iter=38 3.6274 1.434 0.033333 0 0.016667 0.016667 0.016667 0.016667 0.016667
iter=39 3.3027 1.434 0.016667 0.016667 0 0 0.016667 0.033333 0
iter=40 3.0079 1.434 0 0.016667 0.016667 0.016667 0.016667 0 0.033333
iter=41 2.7403 1.434 0.016667 0.016667 0 0.016667 0 0.016667 0.016667
iter=42 2.4974 1.014 0.016667 0.016667 0 0 0.016667 0.016667 0.016667
iter=43 2.2768 1.014 0.016667 0.016667 0 0.016667 0.016667 0 0
iter=44 2.0765 1.014 0 0 0 0.016667 0.016667 0 0.016667
iter=45 1.8947 1.014 0.016667 0 0.016667 0 0.016667 0.016667 0
iter=46 1.7295 1.014 0.016667 0 0 0 0 0 0.016667
iter=47 1.5794 1.014 0 0 0 0.016667 0.016667 0 0.016667
iter=48 1.443 0 0 0 0 0 0 0 0
iter=49 1.3191 1.014 0.016667 0 0 0 0.016667 0 0.016667
iter=50 1.2064 0 0 0 0 0 0 0 0
iter=182 0.00019951 0 0 0 0 0 0 0 0
iter=183 0.00018759 0 0 0 0 0 0 0 0
iter=184 0.00017637 0 0 0 0 0 0 0 0
iter=185 0.00016583 0 0 0 0 0 0 0 0
iter=186 0.00015591 0 0 0 0 0 0 0 0
iter=187 0.00014659 0 0 0 0 0 0 0 0
iter=188 0.00013783 0 0 0 0 0 0 0 0
iter=189 0.00012959 0 0 0 0 0 0 0 0
iter=190 0.00012184 0 0 0 0 0 0 0 0
iter=191 0.00011455 0 0 0 0 0 0 0 0
iter=192 0.0001077 0 0 0 0 0 0 0 0
iter=193 0.00010126 0 0 0 0 0 0 0 0
iter=194 9.52e-05 0 0 0 0 0 0 0 0
iter=195 8.9506e-05 0 0 0 0 0 0 0 0
iter=196 8.4151e-05 0 0 0 0 0 0 0 0
iter=197 7.9117e-05 0 0 0 0 0 0 0 0
iter=198 7.4383e-05 0 0 0 0 0 0 0 0
iter=199 6.9933e-05 0 0 0 0 0 0 0 0
iter=200 6.5748e-05 0 0 0 0 0 0 0 0
iter=201 6.1814e-05 0 0 0 0 0 0 0 0
iter=202 5.8115e-05 0 0 0 0 0 0 0 0
iter=203 5.4637e-05 0 0 0 0 0 0 0 0
iter=204 5.1367e-05 0 0 0 0 0 0 0 0
iter=205 4.8293e-05 0 0 0 0 0 0 0 0
iter=206 4.5402e-05 0 0 0 0 0 0 0 0
iter=207 4.2685e-05 0 0 0 0 0 0 0 0
iter=208 4.0129e-05 0 0 0 0 0 0 0 0
iter=209 3.7727e-05 0 0 0 0 0 0 0 0
iter=210 3.5469e-05 0 0 0 0 0 0 0 0
iter=211 3.3345e-05 0 0 0 0 0 0 0 0
iter=212 3.1349e-05 0 0 0 0 0 0 0 0
iter=213 2.9472e-05 0 0 0 0 0 0 0 0
iter=214 2.7707e-05 0 0 0 0 0 0 0 0
iter=215 2.6048e-05 0 0 0 0 0 0 0 0
iter=216 2.4488e-05 0 0 0 0 0 0 0 0
iter=217 2.3022e-05 0 0 0 0 0 0 0 0
iter=218 2.1643e-05 0 0 0 0 0 0 0 0
iter=219 2.0347e-05 0 0 0 0 0 0 0 0
iter=220 1.9128e-05 0 0 0 0 0 0 0 0
iter=221 1.7983e-05 0 0 0 0 0 0 0 0
iter=222 1.6906e-05 0 0 0 0 0 0 0 0
iter=223 1.5893e-05 0 0 0 0 0 0 0 0
iter=224 1.4941e-05 0 0 0 0 0 0 0 0
iter=225 1.4046e-05 0 0 0 0 0 0 0 0
iter=226 1.3205e-05 0 0 0 0 0 0 0 0
iter=227 1.2414e-05 0 0 0 0 0 0 0 0
iter=228 1.167e-05 0 0 0 0 0 0 0 0
iter=229 1.0971e-05 0 0 0 0 0 0 0 0
iter=230 1.0314e-05 0 0 0 0 0 0 0 0
iter=231 9.6957e-06 0 0 0 0 0 0 0 0
tb_val: V(a,z) value at each state space point
z1_0_34387 z2_0_47991 z3_0_66977 z4_0_93474 z5_1_3045 z6_1_8206 z7_2_5409
__________ __________ __________ __________ _________ _________ _________
a1=-9.82487 -9999 -1762.3 -767.26 -475.21 -307.94 -8.1817 -5.2722
a2=-8.81089 -32.612 -20.746 -15.305 -11.792 -9.1338 -6.7605 -4.1305
a3=-7.79691 -23.916 -17.051 -12.859 -9.8795 -7.5399 -5.5059 -3.0872
a4=-6.78293 -18.452 -14.29 -10.898 -8.2961 -6.1863 -4.3578 -2.1225
a5=-5.76895 -14.775 -11.988 -9.2066 -6.9026 -4.9745 -3.279 -1.2465
a6=-4.75497 -12.061 -9.9727 -7.706 -5.6539 -3.8832 -2.3043 -0.44686
a7=-3.74099 -9.8877 -8.2295 -6.3772 -4.5358 -2.9004 -1.4225 0.29154
a8=-2.72701 -8.0743 -6.7176 -5.1939 -3.5286 -2.0098 -0.61886 0.98605
a9=-1.71303 -6.5265 -5.396 -4.1243 -2.6098 -1.1925 0.12377 1.6565
a10=-0.699046 -5.1843 -4.2267 -3.1179 -1.7316 -0.39176 0.91797 2.2131
a11=0 -4.2514 -3.3793 -2.348 -1.1005 0.15493 1.3774 2.5047
a12=0.314935 -3.916 -3.0036 -1.9547 -0.81202 0.387 1.5283 2.7071
a13=1.32892 -2.8245 -2.0353 -1.1371 -0.14122 0.97705 2.0608 3.1721
a14=2.3429 -1.8583 -1.1701 -0.38372 0.48216 1.5279 2.5603 3.6203
a15=3.35688 -0.99619 -0.38728 0.30965 1.0861 2.0603 3.0429 4.05
a16=4.37086 -0.21921 0.32691 0.95553 1.6661 2.5713 3.5064 4.4608
a17=5.38484 0.48748 0.9846 1.561 2.2193 3.0594 3.9494 4.8529
a18=6.39882 1.1361 1.595 2.1303 2.7452 3.5242 4.3719 5.227
a19=7.4128 1.7362 2.1648 2.6668 3.2445 3.9664 4.7744 5.5842
a20=8.42678 2.2952 2.6991 3.1732 3.718 4.3871 5.1579 5.9256
a21=9.44076 2.8185 3.2018 3.6518 4.1672 4.7873 5.5235 6.253
a22=10.4547 3.3103 3.6759 4.1047 4.5935 5.1683 5.8724 6.5685
a23=11.4687 3.7739 4.1239 4.5338 4.9982 5.5313 6.2061 6.8759
a24=12.4827 4.2121 4.5481 4.9407 5.3828 5.8837 6.5299 7.1769
a25=13.4967 4.6271 4.9503 5.3272 5.7497 6.2272 6.8454 7.4723
a26=14.5107 5.0207 5.3323 5.6951 6.1011 6.5597 7.1509 7.7585
a27=15.5246 5.3948 5.6957 6.0461 6.4381 6.8806 7.4459 8.0349
a28=16.5386 5.7508 6.0422 6.3815 6.7614 7.1897 7.7304 8.3017
a29=17.5526 6.0903 6.3731 6.7027 7.0717 7.4873 8.0045 8.5589
a30=18.5666 6.4147 6.6898 7.0106 7.3698 7.7737 8.2685 8.8068
a31=19.5806 6.7251 6.9932 7.3059 7.6563 8.0493 8.523 9.0459
a32=20.5946 7.0227 7.2842 7.5896 7.9317 8.3145 8.7682 9.2765
a33=21.6085 7.3122 7.5638 7.8623 8.1967 8.5698 9.0047 9.499
a34=22.6225 7.593 7.8328 8.1247 8.4518 8.8158 9.2327 9.7137
a35=23.6365 7.8644 8.092 8.3773 8.6974 9.0528 9.4528 9.9211
a36=24.6505 8.1266 8.3456 8.6207 8.9342 9.2813 9.6653 10.121
a37=25.6645 8.3797 8.5917 8.8558 9.1625 9.5017 9.8738 10.318
a38=26.6784 8.6258 8.8308 9.0831 9.3829 9.7149 10.078 10.51
a39=27.6924 8.864 9.0623 9.3031 9.5961 9.9213 10.277 10.697
a40=28.7064 9.0955 9.2868 9.5183 9.8023 10.121 10.47 10.878
a41=29.7204 9.3198 9.5043 9.7283 10.002 10.315 10.658 11.055
a42=30.7344 9.5377 9.716 9.933 10.197 10.503 10.84 11.226
a43=31.7483 9.749 9.9218 10.132 10.386 10.686 11.017 11.393
a44=32.7623 9.9546 10.122 10.326 10.57 10.864 11.189 11.555
a45=33.7763 10.154 10.317 10.515 10.75 11.037 11.356 11.713
a46=34.7903 10.349 10.507 10.699 10.925 11.205 11.519 11.867
a47=35.8043 10.538 10.692 10.878 11.097 11.369 11.677 12.016
a48=36.8182 10.722 10.872 11.053 11.265 11.53 11.832 12.162
a49=37.8322 10.901 11.047 11.223 11.43 11.687 11.982 12.305
a50=38.8462 11.076 11.218 11.39 11.592 11.84 12.13 12.445
a51=39.8602 11.246 11.385 11.553 11.75 11.99 12.274 12.582
a52=40.8742 11.413 11.548 11.712 11.904 12.137 12.415 12.715
a53=41.8882 11.575 11.707 11.867 12.055 12.281 12.553 12.846
a54=42.9021 11.733 11.863 12.019 12.202 12.421 12.688 12.975
a55=43.9161 11.887 12.014 12.168 12.347 12.559 12.821 13.1
a56=44.9301 12.038 12.163 12.313 12.488 12.694 12.95 13.224
a57=45.9441 12.185 12.308 12.455 12.627 12.827 13.077 13.347
a58=46.9581 12.33 12.45 12.594 12.762 12.958 13.202 13.467
a59=47.972 12.47 12.588 12.73 12.895 13.087 13.325 13.585
a60=48.986 12.608 12.724 12.863 13.025 13.213 13.446 13.702
tb_pol_a: optimal asset choice for each state space point
z1_0_34387 z2_0_47991 z3_0_66977 z4_0_93474 z5_1_3045 z6_1_8206 z7_2_5409
__________ __________ __________ __________ _________ _________ _________
a1=-9.82487 -9.8249 -9.8249 -9.8249 -9.8249 -9.8249 -8.8109 -8.8109
a2=-8.81089 -8.8109 -8.8109 -8.8109 -8.8109 -8.8109 -7.7969 -7.7969
a3=-7.79691 -8.8109 -7.7969 -7.7969 -7.7969 -7.7969 -6.7829 -6.7829
a4=-6.78293 -7.7969 -6.7829 -6.7829 -6.7829 -6.7829 -5.769 -5.769
a5=-5.76895 -6.7829 -6.7829 -5.769 -5.769 -5.769 -5.769 -4.755
a6=-4.75497 -5.769 -5.769 -4.755 -4.755 -4.755 -4.755 -3.741
a7=-3.74099 -4.755 -4.755 -3.741 -3.741 -3.741 -3.741 -2.727
a8=-2.72701 -3.741 -3.741 -2.727 -2.727 -2.727 -2.727 -1.713
a9=-1.71303 -2.727 -2.727 -2.727 -1.713 -1.713 -1.713 -0.69905
a10=-0.699046 -1.713 -1.713 -1.713 -0.69905 -0.69905 0 0.31494
a11=0 -0.69905 -0.69905 -0.69905 0 0 0.31494 1.3289
a12=0.314935 0 0 0 0.31494 0.31494 0.31494 1.3289
a13=1.32892 0.31494 0.31494 0.31494 1.3289 1.3289 1.3289 2.3429
a14=2.3429 1.3289 1.3289 1.3289 2.3429 2.3429 2.3429 3.3569
a15=3.35688 2.3429 2.3429 2.3429 2.3429 3.3569 3.3569 4.3709
a16=4.37086 3.3569 3.3569 3.3569 3.3569 4.3709 4.3709 5.3848
a17=5.38484 4.3709 4.3709 4.3709 4.3709 5.3848 5.3848 6.3988
a18=6.39882 5.3848 5.3848 5.3848 5.3848 6.3988 6.3988 7.4128
a19=7.4128 6.3988 6.3988 6.3988 6.3988 7.4128 7.4128 8.4268
a20=8.42678 7.4128 7.4128 7.4128 7.4128 8.4268 8.4268 9.4408
a21=9.44076 8.4268 8.4268 8.4268 8.4268 9.4408 9.4408 10.455
a22=10.4547 9.4408 9.4408 9.4408 9.4408 10.455 10.455 11.469
a23=11.4687 10.455 10.455 10.455 10.455 11.469 11.469 12.483
a24=12.4827 11.469 11.469 11.469 11.469 11.469 12.483 12.483
a25=13.4967 12.483 12.483 12.483 12.483 12.483 13.497 13.497
a26=14.5107 13.497 13.497 13.497 13.497 13.497 14.511 14.511
a27=15.5246 14.511 14.511 14.511 14.511 14.511 15.525 15.525
a28=16.5386 15.525 15.525 15.525 15.525 15.525 16.539 16.539
a29=17.5526 16.539 16.539 16.539 16.539 16.539 17.553 17.553
a30=18.5666 17.553 17.553 17.553 17.553 17.553 18.567 18.567
a31=19.5806 18.567 18.567 18.567 18.567 18.567 19.581 19.581
a32=20.5946 19.581 19.581 19.581 19.581 19.581 20.595 20.595
a33=21.6085 19.581 20.595 20.595 20.595 20.595 21.609 21.609
a34=22.6225 20.595 21.609 21.609 21.609 21.609 22.623 22.623
a35=23.6365 21.609 22.623 22.623 22.623 22.623 23.636 23.636
a36=24.6505 22.623 22.623 23.636 23.636 23.636 24.65 24.65
a37=25.6645 23.636 23.636 24.65 24.65 24.65 24.65 25.664
a38=26.6784 24.65 24.65 25.664 25.664 25.664 25.664 26.678
a39=27.6924 25.664 25.664 26.678 26.678 26.678 26.678 27.692
a40=28.7064 26.678 26.678 26.678 27.692 27.692 27.692 28.706
a41=29.7204 27.692 27.692 27.692 28.706 28.706 28.706 29.72
a42=30.7344 28.706 28.706 28.706 29.72 29.72 29.72 30.734
a43=31.7483 29.72 29.72 29.72 30.734 30.734 30.734 31.748
a44=32.7623 30.734 30.734 30.734 31.748 31.748 31.748 32.762
a45=33.7763 31.748 31.748 31.748 32.762 32.762 32.762 33.776
a46=34.7903 32.762 32.762 32.762 32.762 33.776 33.776 34.79
a47=35.8043 33.776 33.776 33.776 33.776 34.79 34.79 35.804
a48=36.8182 34.79 34.79 34.79 34.79 35.804 35.804 36.818
a49=37.8322 35.804 35.804 35.804 35.804 36.818 36.818 37.832
a50=38.8462 36.818 36.818 36.818 36.818 37.832 37.832 38.846
a51=39.8602 37.832 37.832 37.832 37.832 38.846 38.846 39.86
a52=40.8742 38.846 38.846 38.846 38.846 39.86 39.86 40.874
a53=41.8882 39.86 39.86 39.86 39.86 40.874 40.874 41.888
a54=42.9021 40.874 40.874 40.874 40.874 41.888 41.888 42.902
a55=43.9161 41.888 41.888 41.888 41.888 42.902 42.902 43.916
a56=44.9301 42.902 42.902 42.902 42.902 43.916 43.916 43.916
a57=45.9441 43.916 43.916 43.916 43.916 43.916 44.93 44.93
a58=46.9581 44.93 44.93 44.93 44.93 44.93 45.944 45.944
a59=47.972 45.944 45.944 45.944 45.944 45.944 46.958 46.958
a60=48.986 46.958 46.958 46.958 46.958 46.958 47.972 47.972
Simulate Save/Borrow, Can Default: cmin = 0.00001, choose not to default
Allow for default, but very low cmin.
see that the resulting policy function does not allow distribution to exceed below -9.32203, the additional borrowing allowed for default does not matter because utility from default is so terrible with c min = 0.00001.
[param_map, support_map] = ffs_abz_set_default_param(it_param_set); % allow for borrowing, when using a very large negative value for fl_b_bd % that means the natural borrowing constraint will bind. param_map('fl_b_bd') = -20; param_map('bl_default') = 1; param_map('fl_c_min') = 0.00001; % shared parameters param_map('fl_a_min') = 0; param_map('fl_a_max') = fl_a_max; param_map('it_a_n') = it_a_n; param_map('fl_r_save') = fl_r_save; param_map('fl_r_borr') = fl_r_borr; param_map('fl_w') = fl_w; % solution param_map('it_z_n') = it_z_n; param_map('it_maxiter_val') = it_maxiter_val; % Display Parameters support_map('bl_display') = bl_display; support_map('bl_post') = bl_post; support_map('bl_display_final') = bl_display_final; % Call Program ff_abz_vf_vecsv(param_map, support_map);
Elapsed time is 0.078260 seconds.
valgap = norm(mt_val - mt_val_cur): value function difference across iterations
polgap = norm(mt_pol_a - mt_pol_a_cur): policy function difference across iterations
z1 = z1 perc change: sum((mt_pol_a ~= mt_pol_a_cur))/(it_a_n): percentage of state space points conditional on shock where the policy function is changing across iterations
valgap polgap z1 z2 z3 z4 z5 z6 z7
__________ ______ ________ ________ ________ ________ ________ ________ ________
iter=1 1092.2 390.36 1.0167 1.0167 1.0167 1.0167 1.0167 1.0167 1.0167
iter=2 824.24 417.84 0.98333 0.98333 1 1 1 1 1
iter=3 599.51 138.76 0.95 0.95 0.96667 0.96667 0.96667 0.96667 0.98333
iter=4 399.81 69.234 0.86667 0.88333 0.91667 0.91667 0.91667 0.91667 0.91667
iter=5 257.13 41.633 0.81667 0.8 0.81667 0.83333 0.85 0.85 0.9
iter=6 164.58 28.138 0.76667 0.76667 0.76667 0.73333 0.75 0.76667 0.81667
iter=7 97.029 20.504 0.61667 0.65 0.68333 0.66667 0.65 0.65 0.68333
iter=8 54.645 15.809 0.51667 0.53333 0.51667 0.53333 0.56667 0.53333 0.58333
iter=9 43.717 13.259 0.41667 0.41667 0.4 0.41667 0.4 0.43333 0.46667
iter=10 39.054 11.585 0.33333 0.36667 0.36667 0.31667 0.31667 0.35 0.41667
iter=11 35.394 9.5817 0.25 0.26667 0.26667 0.26667 0.26667 0.25 0.3
iter=12 32.079 9.223 0.23333 0.23333 0.25 0.18333 0.23333 0.26667 0.25
iter=13 28.759 7.3554 0.16667 0.16667 0.18333 0.21667 0.16667 0.21667 0.16667
iter=14 25.83 7.339 0.18333 0.18333 0.15 0.15 0.15 0.16667 0.16667
iter=15 23.298 7.2765 0.15 0.15 0.13333 0.16667 0.13333 0.16667 0.18333
iter=16 21.113 5.5514 0.11667 0.11667 0.083333 0.11667 0.11667 0.1 0.11667
iter=17 19.196 5.709 0.11667 0.11667 0.13333 0.083333 0.11667 0.1 0.11667
iter=18 17.528 5.3839 0.1 0.1 0.11667 0.1 0.11667 0.11667 0.1
iter=19 16.19 5.4906 0.1 0.083333 0.1 0.11667 0.066667 0.11667 0.13333
iter=20 14.945 4.8396 0.083333 0.083333 0.083333 0.066667 0.05 0.1 0.11667
iter=21 13.767 3.5947 0.05 0.066667 0.05 0.05 0.066667 0.083333 0.066667
iter=22 12.681 3.4966 0.05 0.05 0.05 0.033333 0.066667 0.05 0.05
iter=23 11.685 3.5102 0.05 0.05 0.05 0.05 0.05 0.05 0.033333
iter=24 10.773 3.4842 0.05 0.05 0.033333 0.033333 0.083333 0.033333 0.05
iter=25 9.9368 3.9035 0.05 0.05 0.05 0.033333 0.05 0.033333 0.016667
iter=26 9.173 3.9831 0.033333 0.05 0.066667 0.066667 0.05 0.05 0.066667
iter=27 8.4693 3.4614 0.05 0.05 0.05 0.05 0.033333 0.05 0.05
iter=28 7.8242 2.7939 0.033333 0.016667 0.05 0.033333 0.016667 0.033333 0.033333
iter=29 7.2339 3.2438 0.033333 0.05 0.05 0.066667 0.033333 0.05 0.066667
iter=30 6.6939 2.5944 0.033333 0.033333 0.033333 0.033333 0 0.016667 0.05
iter=31 6.1997 2.4356 0.033333 0.05 0.016667 0 0.033333 0.033333 0.016667
iter=32 5.7468 2.1923 0.016667 0.016667 0.033333 0.016667 0.016667 0.033333 0.016667
iter=33 5.3311 2.292 0.033333 0.033333 0.016667 0.033333 0 0.033333 0.016667
iter=34 4.9493 2.1923 0.033333 0.016667 0.016667 0.016667 0.033333 0.033333 0.016667
iter=35 4.5982 2.055 0.016667 0.016667 0.016667 0 0 0.016667 0
iter=36 4.2749 2.1923 0.033333 0.016667 0.016667 0.016667 0.016667 0.016667 0.033333
iter=37 3.9769 2.055 0.016667 0.016667 0.016667 0.016667 0 0.033333 0
iter=38 3.7017 1.6779 0 0.016667 0.016667 0.016667 0.033333 0.033333 0.016667
iter=39 3.4464 1.6779 0.016667 0.016667 0.016667 0.016667 0.016667 0 0.016667
iter=40 3.2104 1.1864 0 0 0.016667 0.016667 0 0.016667 0
iter=41 2.9922 2.055 0.016667 0.016667 0.016667 0.033333 0.016667 0 0.033333
iter=42 2.7906 1.1864 0 0.016667 0.016667 0 0.016667 0.016667 0.016667
iter=43 2.6043 1.6779 0 0 0.016667 0.016667 0 0 0
iter=44 2.4319 1.6779 0.016667 0 0 0.016667 0.016667 0 0.016667
iter=45 2.2723 1.9197 0 0.016667 0.016667 0.016667 0.016667 0.016667 0.033333
iter=46 2.1245 1.1864 0 0 0.016667 0.016667 0.016667 0 0
iter=47 1.9874 1.1864 0 0 0 0.016667 0.016667 0 0.016667
iter=48 1.8601 1.1864 0 0 0 0.016667 0.016667 0.016667 0.016667
iter=49 1.7416 1.5626 0.033333 0.016667 0.016667 0.016667 0.016667 0 0.016667
iter=50 1.6312 1.1864 0 0 0 0.016667 0.016667 0 0.016667
iter=194 0.00019778 0 0 0 0 0 0 0 0
iter=195 0.00018594 0 0 0 0 0 0 0 0
iter=196 0.00017481 0 0 0 0 0 0 0 0
iter=197 0.00016435 0 0 0 0 0 0 0 0
iter=198 0.00015451 0 0 0 0 0 0 0 0
iter=199 0.00014526 0 0 0 0 0 0 0 0
iter=200 0.00013656 0 0 0 0 0 0 0 0
iter=201 0.00012839 0 0 0 0 0 0 0 0
iter=202 0.0001207 0 0 0 0 0 0 0 0
iter=203 0.00011348 0 0 0 0 0 0 0 0
iter=204 0.00010668 0 0 0 0 0 0 0 0
iter=205 0.0001003 0 0 0 0 0 0 0 0
iter=206 9.4292e-05 0 0 0 0 0 0 0 0
iter=207 8.8647e-05 0 0 0 0 0 0 0 0
iter=208 8.334e-05 0 0 0 0 0 0 0 0
iter=209 7.8351e-05 0 0 0 0 0 0 0 0
iter=210 7.3661e-05 0 0 0 0 0 0 0 0
iter=211 6.9251e-05 0 0 0 0 0 0 0 0
iter=212 6.5105e-05 0 0 0 0 0 0 0 0
iter=213 6.1207e-05 0 0 0 0 0 0 0 0
iter=214 5.7543e-05 0 0 0 0 0 0 0 0
iter=215 5.4098e-05 0 0 0 0 0 0 0 0
iter=216 5.0859e-05 0 0 0 0 0 0 0 0
iter=217 4.7814e-05 0 0 0 0 0 0 0 0
iter=218 4.4951e-05 0 0 0 0 0 0 0 0
iter=219 4.226e-05 0 0 0 0 0 0 0 0
iter=220 3.973e-05 0 0 0 0 0 0 0 0
iter=221 3.7351e-05 0 0 0 0 0 0 0 0
iter=222 3.5115e-05 0 0 0 0 0 0 0 0
iter=223 3.3012e-05 0 0 0 0 0 0 0 0
iter=224 3.1036e-05 0 0 0 0 0 0 0 0
iter=225 2.9178e-05 0 0 0 0 0 0 0 0
iter=226 2.7431e-05 0 0 0 0 0 0 0 0
iter=227 2.5788e-05 0 0 0 0 0 0 0 0
iter=228 2.4244e-05 0 0 0 0 0 0 0 0
iter=229 2.2792e-05 0 0 0 0 0 0 0 0
iter=230 2.1428e-05 0 0 0 0 0 0 0 0
iter=231 2.0145e-05 0 0 0 0 0 0 0 0
iter=232 1.8938e-05 0 0 0 0 0 0 0 0
iter=233 1.7804e-05 0 0 0 0 0 0 0 0
iter=234 1.6738e-05 0 0 0 0 0 0 0 0
iter=235 1.5736e-05 0 0 0 0 0 0 0 0
iter=236 1.4794e-05 0 0 0 0 0 0 0 0
iter=237 1.3908e-05 0 0 0 0 0 0 0 0
iter=238 1.3075e-05 0 0 0 0 0 0 0 0
iter=239 1.2292e-05 0 0 0 0 0 0 0 0
iter=240 1.1556e-05 0 0 0 0 0 0 0 0
iter=241 1.0864e-05 0 0 0 0 0 0 0 0
iter=242 1.0213e-05 0 0 0 0 0 0 0 0
iter=243 9.6016e-06 0 0 0 0 0 0 0 0
tb_val: V(a,z) value at each state space point
z1_0_34387 z2_0_47991 z3_0_66977 z4_0_93474 z5_1_3045 z6_1_8206 z7_2_5409
__________ __________ __________ __________ _________ _________ _________
a1=-20 -634.4 -633.62 -632.71 -424.29 -340.43 -278.74 -103.64
a2=-18.8136 -595.85 -588.71 -318.26 -221.55 -177.94 -145.91 -57.544
a3=-17.6271 -539.34 -440.46 -214.09 -146.96 -112.35 -72.061 -39.824
a4=-16.4407 -440.14 -325.73 -157.05 -107.91 -81.602 -48.906 -27.941
a5=-15.2542 -342.22 -242.92 -117.57 -80.912 -60.639 -34.272 -19.041
a6=-14.0678 -260.9 -182.16 -88.628 -60.81 -44.702 -22.033 -13.909
a7=-12.8814 -197.37 -74.249 -43.252 -31.562 -24.508 -16.679 -10.743
a8=-11.6949 -117.93 -46.89 -29.868 -22.422 -17.671 -13.055 -8.3318
a9=-10.5085 -71.828 -32.849 -22.345 -17.058 -13.475 -10.287 -6.368
a10=-9.32203 -42.871 -23.931 -17.232 -13.285 -10.43 -8.036 -4.7213
a11=-8.13559 -26.366 -18.182 -13.641 -10.513 -8.0965 -6.0455 -3.4352
a12=-6.94915 -19.904 -14.826 -11.256 -8.5824 -6.4332 -4.579 -2.3209
a13=-5.76271 -15.516 -12.231 -9.3121 -6.9749 -5.0342 -3.3348 -1.3258
a14=-4.57627 -12.361 -10.069 -7.645 -5.5764 -3.8082 -2.238 -0.42194
a15=-3.38983 -9.929 -8.1628 -6.1622 -4.3215 -2.7028 -1.2461 0.40216
a16=-2.20339 -7.9254 -6.4965 -4.8434 -3.1945 -1.7048 -0.34722 1.1585
a17=-1.01695 -6.2202 -5.0364 -3.6644 -2.177 -0.79912 0.47179 1.8583
a18=0 -4.8442 -3.8368 -2.6929 -1.329 -0.025881 1.1948 2.3036
a19=0.169492 -4.7245 -3.6341 -2.4278 -1.1498 0.10315 1.2708 2.4251
a20=1.35593 -3.3832 -2.4861 -1.4887 -0.37554 0.78483 1.886 2.9604
a21=2.54237 -2.2235 -1.472 -0.61943 0.34505 1.4216 2.4621 3.4663
a22=3.72881 -1.2055 -0.56043 0.18126 1.0141 2.0153 3.0016 3.9506
a23=4.91525 -0.29817 0.26629 0.91834 1.6516 2.5812 3.5167 4.4157
a24=6.10169 0.51989 1.021 1.6023 2.2652 3.1252 4.012 4.8609
a25=7.28814 1.2641 1.7153 2.2423 2.8507 3.6448 4.4857 5.2874
a26=8.47458 1.9467 2.3589 2.8436 3.4074 4.1397 4.9378 5.6977
a27=9.66102 2.5776 2.959 3.4097 3.9357 4.6106 5.3695 6.0967
a28=10.8475 3.1645 3.5211 3.9437 4.4366 5.0584 5.781 6.4812
a29=12.0339 3.7134 4.0494 4.4481 4.9116 5.4842 6.1728 6.8475
a30=13.2203 4.2287 4.5473 4.925 5.362 5.889 6.5459 7.1966
a31=14.4068 4.7139 5.0174 5.3765 5.7894 6.2743 6.9014 7.5295
a32=15.5932 5.1721 5.462 5.8044 6.1952 6.646 7.2444 7.8508
a33=16.7797 5.6056 5.8832 6.2103 6.5816 7.0084 7.5781 8.1638
a34=17.9661 6.0163 6.2829 6.5963 6.9512 7.3588 7.901 8.4666
a35=19.1525 6.4061 6.6627 6.964 7.3051 7.6967 8.2124 8.7589
a36=20.339 6.7768 7.0243 7.3151 7.6443 8.0218 8.5123 9.0406
a37=21.5254 7.1298 7.3692 7.6508 7.9696 8.3344 8.801 9.312
a38=22.7119 7.4666 7.6989 7.9721 8.2816 8.6349 9.0789 9.5733
a39=23.8983 7.7885 8.0143 8.28 8.581 8.9237 9.3463 9.8249
a40=25.0847 8.0966 8.3165 8.5754 8.8686 9.2014 9.6037 10.067
a41=26.2712 8.392 8.6064 8.8589 9.1449 9.4683 9.8515 10.301
a42=27.4576 8.6753 8.8847 9.1314 9.4105 9.7251 10.09 10.526
a43=28.6441 8.9475 9.1521 9.3933 9.666 9.9723 10.32 10.743
a44=29.8305 9.2092 9.4094 9.6452 9.9118 10.21 10.544 10.954
a45=31.0169 9.4647 9.6569 9.8878 10.149 10.44 10.763 11.161
a46=32.2034 9.7125 9.8956 10.122 10.377 10.661 10.977 11.362
a47=33.3898 9.9525 10.126 10.347 10.597 10.876 11.184 11.557
a48=34.5763 10.185 10.353 10.564 10.81 11.083 11.386 11.747
a49=35.7627 10.409 10.572 10.775 11.015 11.284 11.581 11.93
a50=36.9492 10.629 10.786 10.979 11.214 11.478 11.769 12.109
a51=38.1356 10.841 10.993 11.178 11.407 11.666 11.952 12.281
a52=39.322 11.047 11.194 11.373 11.594 11.848 12.13 12.449
a53=40.5085 11.247 11.389 11.563 11.775 12.024 12.301 12.611
a54=41.6949 11.442 11.58 11.748 11.952 12.196 12.468 12.769
a55=42.8814 11.632 11.765 11.928 12.124 12.363 12.63 12.922
a56=44.0678 11.816 11.946 12.104 12.291 12.525 12.787 13.071
a57=45.2542 11.996 12.121 12.275 12.456 12.683 12.94 13.217
a58=46.4407 12.171 12.293 12.441 12.617 12.837 13.089 13.358
a59=47.6271 12.341 12.46 12.604 12.775 12.988 13.235 13.496
a60=48.8136 12.507 12.623 12.763 12.929 13.135 13.377 13.633
tb_pol_a: optimal asset choice for each state space point
z1_0_34387 z2_0_47991 z3_0_66977 z4_0_93474 z5_1_3045 z6_1_8206 z7_2_5409
__________ __________ __________ __________ _________ _________ _________
a1=-20 0 0 0 -20 -20 -20 -18.814
a2=-18.8136 -20 -20 -18.814 -18.814 -18.814 -18.814 -17.627
a3=-17.6271 -18.814 -18.814 -17.627 -17.627 -17.627 -16.441 -16.441
a4=-16.4407 -17.627 -17.627 -16.441 -16.441 -16.441 -15.254 -15.254
a5=-15.2542 -16.441 -16.441 -15.254 -15.254 -15.254 -14.068 -14.068
a6=-14.0678 -15.254 -15.254 -14.068 -14.068 -14.068 -12.881 -12.881
a7=-12.8814 -14.068 -12.881 -12.881 -12.881 -12.881 -11.695 -11.695
a8=-11.6949 -12.881 -11.695 -11.695 -11.695 -11.695 -10.508 -10.508
a9=-10.5085 -11.695 -10.508 -10.508 -10.508 -10.508 -9.322 -9.322
a10=-9.32203 -9.322 -9.322 -9.322 -9.322 -9.322 -8.1356 -8.1356
a11=-8.13559 -8.1356 -8.1356 -8.1356 -8.1356 -8.1356 -8.1356 -6.9492
a12=-6.94915 -8.1356 -6.9492 -6.9492 -6.9492 -6.9492 -6.9492 -5.7627
a13=-5.76271 -6.9492 -5.7627 -5.7627 -5.7627 -5.7627 -5.7627 -4.5763
a14=-4.57627 -5.7627 -5.7627 -4.5763 -4.5763 -4.5763 -4.5763 -3.3898
a15=-3.38983 -4.5763 -4.5763 -3.3898 -3.3898 -3.3898 -3.3898 -2.2034
a16=-2.20339 -3.3898 -3.3898 -2.2034 -2.2034 -2.2034 -2.2034 -1.0169
a17=-1.01695 -2.2034 -2.2034 -1.0169 -1.0169 -1.0169 -1.0169 0
a18=0 -1.0169 -1.0169 -1.0169 0 0.16949 0.16949 1.3559
a19=0.169492 0 0 0 0.16949 0.16949 0.16949 1.3559
a20=1.35593 0.16949 0.16949 0.16949 1.3559 1.3559 1.3559 2.5424
a21=2.54237 1.3559 1.3559 1.3559 2.5424 2.5424 2.5424 3.7288
a22=3.72881 2.5424 2.5424 2.5424 3.7288 3.7288 3.7288 4.9153
a23=4.91525 3.7288 3.7288 3.7288 3.7288 4.9153 4.9153 6.1017
a24=6.10169 4.9153 4.9153 4.9153 4.9153 6.1017 6.1017 7.2881
a25=7.28814 6.1017 6.1017 6.1017 6.1017 7.2881 7.2881 8.4746
a26=8.47458 7.2881 7.2881 7.2881 7.2881 8.4746 8.4746 9.661
a27=9.66102 8.4746 8.4746 8.4746 8.4746 9.661 9.661 9.661
a28=10.8475 9.661 9.661 9.661 9.661 10.847 10.847 10.847
a29=12.0339 10.847 10.847 10.847 10.847 12.034 12.034 12.034
a30=13.2203 12.034 12.034 12.034 12.034 13.22 13.22 13.22
a31=14.4068 13.22 13.22 13.22 13.22 14.407 14.407 14.407
a32=15.5932 14.407 14.407 14.407 14.407 14.407 15.593 15.593
a33=16.7797 15.593 15.593 15.593 15.593 15.593 16.78 16.78
a34=17.9661 16.78 16.78 16.78 16.78 16.78 17.966 17.966
a35=19.1525 17.966 17.966 17.966 17.966 17.966 19.153 19.153
a36=20.339 19.153 19.153 19.153 19.153 19.153 20.339 20.339
a37=21.5254 20.339 20.339 20.339 20.339 20.339 21.525 21.525
a38=22.7119 21.525 21.525 21.525 21.525 21.525 22.712 22.712
a39=23.8983 22.712 22.712 22.712 22.712 22.712 23.898 23.898
a40=25.0847 23.898 23.898 23.898 23.898 23.898 25.085 25.085
a41=26.2712 25.085 25.085 25.085 25.085 25.085 26.271 26.271
a42=27.4576 26.271 26.271 26.271 26.271 26.271 27.458 27.458
a43=28.6441 27.458 27.458 27.458 27.458 27.458 28.644 28.644
a44=29.8305 28.644 28.644 28.644 28.644 28.644 28.644 29.831
a45=31.0169 28.644 29.831 29.831 29.831 29.831 29.831 31.017
a46=32.2034 29.831 31.017 31.017 31.017 31.017 31.017 32.203
a47=33.3898 31.017 31.017 32.203 32.203 32.203 32.203 33.39
a48=34.5763 32.203 32.203 33.39 33.39 33.39 33.39 34.576
a49=35.7627 33.39 33.39 34.576 34.576 34.576 34.576 35.763
a50=36.9492 34.576 34.576 35.763 35.763 35.763 35.763 36.949
a51=38.1356 35.763 35.763 35.763 36.949 36.949 36.949 38.136
a52=39.322 36.949 36.949 36.949 38.136 38.136 38.136 39.322
a53=40.5085 38.136 38.136 38.136 39.322 39.322 39.322 40.508
a54=41.6949 39.322 39.322 39.322 40.508 40.508 40.508 41.695
a55=42.8814 40.508 40.508 40.508 41.695 41.695 41.695 42.881
a56=44.0678 41.695 41.695 41.695 42.881 42.881 42.881 44.068
a57=45.2542 42.881 42.881 42.881 42.881 44.068 44.068 45.254
a58=46.4407 44.068 44.068 44.068 44.068 45.254 45.254 46.441
a59=47.6271 45.254 45.254 45.254 45.254 46.441 46.441 47.627
a60=48.8136 46.441 46.441 46.441 46.441 47.627 47.627 47.627
Simulate Save/Borrow, Can Default: cmin = 0.001, default takes place
now borrowing level feasible increases significantly given minimum consumption and default. see ffs_abz_get_funcgrid_nodefault for additional information.
higher cmin than before, see that the lowest asset level reached is now lower. See that around -10, there is no a' below the 45 degree line in the asset choice graph.
[param_map, support_map] = ffs_abz_set_default_param(it_param_set); % allow for borrowing, when using a very large negative value for fl_b_bd % that means the natural borrowing constraint will bind. param_map('fl_b_bd') = -20; param_map('bl_default') = 1; param_map('fl_c_min') = 0.001; % shared parameters param_map('fl_a_min') = 0; param_map('fl_a_max') = fl_a_max; param_map('it_a_n') = it_a_n; param_map('fl_r_save') = fl_r_save; param_map('fl_r_borr') = fl_r_borr; param_map('fl_w') = fl_w; % solution param_map('it_z_n') = it_z_n; param_map('it_maxiter_val') = it_maxiter_val; % Display Parameters support_map('bl_display') = bl_display; support_map('bl_post') = bl_post; support_map('bl_display_final') = bl_display_final; % Call Program ff_abz_vf_vecsv(param_map, support_map);
Elapsed time is 0.062928 seconds.
valgap = norm(mt_val - mt_val_cur): value function difference across iterations
polgap = norm(mt_pol_a - mt_pol_a_cur): policy function difference across iterations
z1 = z1 perc change: sum((mt_pol_a ~= mt_pol_a_cur))/(it_a_n): percentage of state space points conditional on shock where the policy function is changing across iterations
valgap polgap z1 z2 z3 z4 z5 z6 z7
__________ ______ ________ ________ ________ ________ ________ ________ ________
iter=1 108.4 390.36 1.0167 1.0167 1.0167 1.0167 1.0167 1.0167 1.0167
iter=2 83.362 417.84 0.98333 0.98333 1 1 1 1 1
iter=3 63.794 138.76 0.95 0.95 0.96667 0.96667 0.96667 0.96667 0.96667
iter=4 45.901 69.236 0.86667 0.88333 0.91667 0.91667 0.91667 0.91667 0.93333
iter=5 32.638 41.63 0.81667 0.8 0.83333 0.83333 0.85 0.85 0.9
iter=6 23.982 28.134 0.76667 0.76667 0.76667 0.73333 0.75 0.76667 0.8
iter=7 18.632 20.467 0.61667 0.63333 0.68333 0.66667 0.65 0.65 0.7
iter=8 15.388 15.751 0.51667 0.51667 0.51667 0.53333 0.56667 0.53333 0.58333
iter=9 13.3 13.189 0.41667 0.4 0.4 0.41667 0.4 0.43333 0.46667
iter=10 11.845 11.504 0.33333 0.35 0.36667 0.31667 0.31667 0.35 0.41667
iter=11 10.748 9.485 0.25 0.25 0.26667 0.26667 0.26667 0.25 0.3
iter=12 9.8412 9.1434 0.23333 0.23333 0.23333 0.18333 0.23333 0.25 0.25
iter=13 9.0693 7.318 0.16667 0.16667 0.18333 0.21667 0.16667 0.16667 0.16667
iter=14 8.3906 7.3218 0.18333 0.18333 0.13333 0.15 0.15 0.16667 0.16667
iter=15 7.7786 7.2765 0.15 0.15 0.13333 0.16667 0.13333 0.16667 0.18333
iter=16 7.242 5.4781 0.1 0.1 0.1 0.11667 0.11667 0.1 0.11667
iter=17 6.745 5.6831 0.11667 0.11667 0.13333 0.066667 0.11667 0.1 0.11667
iter=18 6.3219 5.3965 0.1 0.1 0.11667 0.11667 0.11667 0.11667 0.1
iter=19 5.9818 5.5015 0.1 0.083333 0.11667 0.1 0.066667 0.11667 0.13333
iter=20 5.6658 4.8469 0.083333 0.083333 0.083333 0.083333 0.05 0.083333 0.11667
iter=21 5.3844 3.5118 0.05 0.05 0.033333 0.05 0.066667 0.083333 0.066667
iter=22 5.1092 3.4966 0.05 0.05 0.05 0.033333 0.066667 0.05 0.05
iter=23 4.8432 3.5614 0.05 0.05 0.066667 0.05 0.05 0.05 0.033333
iter=24 4.5871 3.4842 0.05 0.05 0.033333 0.033333 0.066667 0.033333 0.05
iter=25 4.343 3.9035 0.05 0.05 0.05 0.033333 0.05 0.033333 0.016667
iter=26 4.1118 3.9028 0.033333 0.05 0.05 0.05 0.066667 0.05 0.066667
iter=27 3.8937 3.4539 0.033333 0.05 0.05 0.05 0.033333 0.033333 0.05
iter=28 3.6888 2.9402 0.033333 0.033333 0.066667 0.033333 0.016667 0.033333 0.033333
iter=29 3.4968 3.0463 0.033333 0.05 0.05 0.05 0.033333 0.05 0.066667
iter=30 3.3168 2.5944 0.033333 0.033333 0.033333 0.05 0 0.016667 0.033333
iter=31 3.1481 2.292 0.033333 0.033333 0.016667 0 0.016667 0.033333 0.033333
iter=32 2.9889 2.055 0.016667 0.016667 0.016667 0.016667 0.033333 0.033333 0.016667
iter=33 2.8383 2.292 0.033333 0.033333 0.016667 0.033333 0 0.033333 0
iter=34 2.6957 2.1923 0.033333 0.016667 0.016667 0.016667 0.016667 0.033333 0.033333
iter=35 2.5606 2.1923 0.016667 0.016667 0.033333 0 0 0 0
iter=36 2.4325 2.1923 0.033333 0.016667 0.016667 0.016667 0.033333 0.033333 0.016667
iter=37 2.311 1.6779 0 0.016667 0.016667 0.016667 0 0.033333 0
iter=38 2.1956 1.6779 0.016667 0.016667 0.016667 0.016667 0.016667 0.016667 0.033333
iter=39 2.0864 1.6779 0.016667 0.016667 0.016667 0.016667 0.016667 0 0.016667
iter=40 1.9826 1.1864 0 0 0.016667 0.016667 0 0.016667 0
iter=41 1.8843 1.6779 0 0.016667 0.016667 0.016667 0.033333 0 0.016667
iter=42 1.7909 1.1864 0.016667 0 0.016667 0 0.016667 0.016667 0.016667
iter=43 1.7022 1.6779 0 0.016667 0.016667 0.016667 0 0 0.016667
iter=44 1.6179 1.6822 0 0 0 0.033333 0.016667 0 0.016667
iter=45 1.5379 1.6779 0 0 0.016667 0.016667 0.016667 0 0.016667
iter=46 1.4618 1.1864 0.016667 0.016667 0 0.016667 0.016667 0.016667 0
iter=47 1.3893 1.1864 0 0 0.016667 0.016667 0.016667 0 0.016667
iter=48 1.3204 1.1864 0 0 0 0.016667 0 0 0.016667
iter=49 1.2546 1.1864 0 0 0 0.016667 0.016667 0 0.016667
iter=50 1.1918 1.1864 0 0.016667 0.016667 0 0.016667 0.016667 0.016667
iter=195 0.00019535 0 0 0 0 0 0 0 0
iter=196 0.00018368 0 0 0 0 0 0 0 0
iter=197 0.00017271 0 0 0 0 0 0 0 0
iter=198 0.00016239 0 0 0 0 0 0 0 0
iter=199 0.00015269 0 0 0 0 0 0 0 0
iter=200 0.00014357 0 0 0 0 0 0 0 0
iter=201 0.00013499 0 0 0 0 0 0 0 0
iter=202 0.00012693 0 0 0 0 0 0 0 0
iter=203 0.00011934 0 0 0 0 0 0 0 0
iter=204 0.00011221 0 0 0 0 0 0 0 0
iter=205 0.0001055 0 0 0 0 0 0 0 0
iter=206 9.9193e-05 0 0 0 0 0 0 0 0
iter=207 9.3262e-05 0 0 0 0 0 0 0 0
iter=208 8.7686e-05 0 0 0 0 0 0 0 0
iter=209 8.2442e-05 0 0 0 0 0 0 0 0
iter=210 7.7512e-05 0 0 0 0 0 0 0 0
iter=211 7.2876e-05 0 0 0 0 0 0 0 0
iter=212 6.8517e-05 0 0 0 0 0 0 0 0
iter=213 6.4419e-05 0 0 0 0 0 0 0 0
iter=214 6.0565e-05 0 0 0 0 0 0 0 0
iter=215 5.6941e-05 0 0 0 0 0 0 0 0
iter=216 5.3534e-05 0 0 0 0 0 0 0 0
iter=217 5.0331e-05 0 0 0 0 0 0 0 0
iter=218 4.7319e-05 0 0 0 0 0 0 0 0
iter=219 4.4487e-05 0 0 0 0 0 0 0 0
iter=220 4.1825e-05 0 0 0 0 0 0 0 0
iter=221 3.9321e-05 0 0 0 0 0 0 0 0
iter=222 3.6967e-05 0 0 0 0 0 0 0 0
iter=223 3.4754e-05 0 0 0 0 0 0 0 0
iter=224 3.2674e-05 0 0 0 0 0 0 0 0
iter=225 3.0718e-05 0 0 0 0 0 0 0 0
iter=226 2.8878e-05 0 0 0 0 0 0 0 0
iter=227 2.7149e-05 0 0 0 0 0 0 0 0
iter=228 2.5523e-05 0 0 0 0 0 0 0 0
iter=229 2.3995e-05 0 0 0 0 0 0 0 0
iter=230 2.2558e-05 0 0 0 0 0 0 0 0
iter=231 2.1207e-05 0 0 0 0 0 0 0 0
iter=232 1.9936e-05 0 0 0 0 0 0 0 0
iter=233 1.8742e-05 0 0 0 0 0 0 0 0
iter=234 1.762e-05 0 0 0 0 0 0 0 0
iter=235 1.6564e-05 0 0 0 0 0 0 0 0
iter=236 1.5572e-05 0 0 0 0 0 0 0 0
iter=237 1.4639e-05 0 0 0 0 0 0 0 0
iter=238 1.3762e-05 0 0 0 0 0 0 0 0
iter=239 1.2937e-05 0 0 0 0 0 0 0 0
iter=240 1.2162e-05 0 0 0 0 0 0 0 0
iter=241 1.1433e-05 0 0 0 0 0 0 0 0
iter=242 1.0748e-05 0 0 0 0 0 0 0 0
iter=243 1.0104e-05 0 0 0 0 0 0 0 0
iter=244 9.4982e-06 0 0 0 0 0 0 0 0
tb_val: V(a,z) value at each state space point
z1_0_34387 z2_0_47991 z3_0_66977 z4_0_93474 z5_1_3045 z6_1_8206 z7_2_5409
__________ __________ __________ __________ _________ _________ _________
a1=-20 -64.928 -64.22 -63.37 -50.096 -41.602 -35.403 -26.449
a2=-18.8136 -60.734 -59.638 -55.523 -43.71 -36.24 -30.719 -22.748
a3=-17.6271 -56.333 -54.031 -48.929 -38.334 -31.691 -26.691 -19.191
a4=-16.4407 -51.446 -48.434 -42.059 -32.954 -27.159 -22.712 -15.918
a5=-15.2542 -46.353 -42.71 -34.986 -27.58 -22.662 -18.828 -13.211
a6=-14.0678 -41.106 -36.839 -29.403 -23.253 -19.019 -15.664 -10.919
a7=-12.8814 -35.822 -31.484 -24.841 -19.666 -15.982 -13.013 -8.9495
a8=-11.6949 -30.832 -26.779 -21.04 -16.641 -13.406 -10.757 -7.2389
a9=-10.5085 -26.317 -22.703 -17.83 -14.058 -11.195 -8.8118 -5.7386
a10=-9.32203 -22.328 -19.189 -15.092 -11.831 -9.2773 -7.1188 -4.4117
a11=-8.13559 -18.85 -16.163 -12.735 -9.8931 -7.5997 -5.6319 -3.2288
a12=-6.94915 -15.835 -13.551 -10.688 -8.1931 -6.1201 -4.3155 -2.1665
a13=-5.76271 -13.223 -11.288 -8.8974 -6.6903 -4.805 -3.1411 -1.2056
a14=-4.57627 -10.957 -9.3173 -7.3179 -5.3518 -3.6275 -2.0856 -0.33051
a15=-3.38983 -8.983 -7.5914 -5.9145 -4.1515 -2.5659 -1.1306 0.47231
a16=-2.20339 -7.2559 -6.0703 -4.6589 -3.0676 -1.6026 -0.26048 1.2148
a17=-1.01695 -5.7357 -4.7209 -3.5276 -2.0827 -0.72278 0.53755 1.909
a18=0 -4.4899 -3.6038 -2.5561 -1.2391 0.042836 1.254 2.3493
a19=0.169492 -4.39 -3.4482 -2.3019 -1.065 0.17187 1.3299 2.4708
a20=1.35593 -3.1516 -2.3277 -1.3753 -0.29941 0.84657 1.9392 3.0016
a21=2.54237 -2.0476 -1.338 -0.51854 0.41267 1.4765 2.5096 3.5043
a22=3.72881 -1.0646 -0.44641 0.27014 1.0737 2.0639 3.044 3.9877
a23=4.91525 -0.18162 0.36399 0.99617 1.7112 2.6292 3.5585 4.4509
a24=6.10169 0.61815 1.1054 1.6723 2.3225 3.1712 4.052 4.8942
a25=7.28814 1.3481 1.7892 2.3059 2.905 3.6882 4.5235 5.3189
a26=8.47458 2.0196 2.4245 2.9017 3.4582 4.1803 4.9732 5.728
a27=9.66102 2.6418 3.0179 3.463 3.9829 4.6484 5.4027 6.1271
a28=10.8475 3.2217 3.5743 3.9926 4.4804 5.0935 5.8118 6.5093
a29=12.0339 3.7647 4.0977 4.4929 4.952 5.5166 6.2012 6.8734
a30=13.2203 4.2751 4.5913 4.9661 5.3993 5.9189 6.5721 7.2205
a31=14.4068 4.7561 5.0576 5.4143 5.8238 6.3018 6.9256 7.5516
a32=15.5932 5.2106 5.4988 5.8391 6.2268 6.6735 7.2683 7.8728
a33=16.7797 5.6407 5.917 6.2422 6.6112 7.035 7.6013 8.185
a34=17.9661 6.0485 6.3139 6.6257 6.9789 7.3844 7.9231 8.4869
a35=19.1525 6.4357 6.6912 6.9913 7.3311 7.7209 8.2334 8.7781
a36=20.339 6.8039 7.0506 7.3405 7.6687 8.0448 8.5322 9.0588
a37=21.5254 7.1548 7.3937 7.6744 7.9924 8.3561 8.8198 9.3291
a38=22.7119 7.4897 7.7215 7.9941 8.3029 8.6553 9.0965 9.5894
a39=23.8983 7.81 8.0354 8.3006 8.6011 8.9428 9.3628 9.8401
a40=25.0847 8.1166 8.3361 8.5946 8.8873 9.2193 9.6192 10.082
a41=26.2712 8.4105 8.6247 8.8769 9.1624 9.4851 9.8661 10.314
a42=27.4576 8.6926 8.9017 9.1481 9.4269 9.7409 10.104 10.539
a43=28.6441 8.9636 9.1681 9.4089 9.6813 9.9871 10.333 10.755
a44=29.8305 9.2243 9.4242 9.6599 9.9262 10.224 10.556 10.966
a45=31.0169 9.4797 9.6708 9.9015 10.162 10.453 10.775 11.172
a46=32.2034 9.7265 9.9087 10.134 10.389 10.674 10.989 11.373
a47=33.3898 9.9661 10.139 10.359 10.609 10.887 11.196 11.567
a48=34.5763 10.197 10.365 10.576 10.821 11.094 11.396 11.756
a49=35.7627 10.422 10.584 10.786 11.026 11.294 11.591 11.94
a50=36.9492 10.64 10.797 10.989 11.224 11.487 11.779 12.117
a51=38.1356 10.852 11.004 11.188 11.416 11.675 11.961 12.289
a52=39.322 11.058 11.204 11.383 11.602 11.856 12.138 12.456
a53=40.5085 11.258 11.399 11.572 11.784 12.033 12.309 12.618
a54=41.6949 11.452 11.589 11.757 11.96 12.204 12.476 12.776
a55=42.8814 11.641 11.774 11.937 12.131 12.37 12.637 12.929
a56=44.0678 11.825 11.954 12.112 12.298 12.532 12.794 13.077
a57=45.2542 12.004 12.13 12.283 12.463 12.689 12.947 13.222
a58=46.4407 12.179 12.301 12.449 12.624 12.843 13.096 13.364
a59=47.6271 12.349 12.467 12.611 12.782 12.994 13.241 13.502
a60=48.8136 12.514 12.63 12.77 12.936 13.141 13.383 13.638
tb_pol_a: optimal asset choice for each state space point
z1_0_34387 z2_0_47991 z3_0_66977 z4_0_93474 z5_1_3045 z6_1_8206 z7_2_5409
__________ __________ __________ __________ _________ _________ _________
a1=-20 0 0 0 -20 -20 -20 -18.814
a2=-18.8136 -20 -20 -20 -18.814 -18.814 -18.814 -17.627
a3=-17.6271 -18.814 -18.814 -18.814 -17.627 -17.627 -17.627 -16.441
a4=-16.4407 -17.627 -17.627 -16.441 -16.441 -16.441 -16.441 -15.254
a5=-15.2542 -16.441 -16.441 -15.254 -15.254 -15.254 -15.254 -14.068
a6=-14.0678 -15.254 -15.254 -14.068 -14.068 -14.068 -14.068 -12.881
a7=-12.8814 -14.068 -14.068 -12.881 -12.881 -12.881 -12.881 -11.695
a8=-11.6949 -12.881 -12.881 -11.695 -11.695 -11.695 -11.695 -10.508
a9=-10.5085 -11.695 -11.695 -10.508 -10.508 -10.508 -10.508 -9.322
a10=-9.32203 -10.508 -10.508 -9.322 -9.322 -9.322 -9.322 -8.1356
a11=-8.13559 -9.322 -9.322 -8.1356 -8.1356 -8.1356 -8.1356 -6.9492
a12=-6.94915 -8.1356 -8.1356 -6.9492 -6.9492 -6.9492 -6.9492 -5.7627
a13=-5.76271 -6.9492 -6.9492 -5.7627 -5.7627 -5.7627 -5.7627 -4.5763
a14=-4.57627 -5.7627 -5.7627 -4.5763 -4.5763 -4.5763 -4.5763 -3.3898
a15=-3.38983 -4.5763 -4.5763 -3.3898 -3.3898 -3.3898 -3.3898 -2.2034
a16=-2.20339 -3.3898 -3.3898 -2.2034 -2.2034 -2.2034 -2.2034 -1.0169
a17=-1.01695 -2.2034 -2.2034 -1.0169 -1.0169 -1.0169 -1.0169 0
a18=0 -1.0169 -1.0169 -1.0169 0 0.16949 0.16949 1.3559
a19=0.169492 -1.0169 0 0 0.16949 0.16949 0.16949 1.3559
a20=1.35593 0.16949 0.16949 0.16949 1.3559 1.3559 1.3559 2.5424
a21=2.54237 1.3559 1.3559 1.3559 2.5424 2.5424 2.5424 3.7288
a22=3.72881 2.5424 2.5424 2.5424 3.7288 3.7288 3.7288 4.9153
a23=4.91525 3.7288 3.7288 3.7288 3.7288 4.9153 4.9153 6.1017
a24=6.10169 4.9153 4.9153 4.9153 4.9153 6.1017 6.1017 7.2881
a25=7.28814 6.1017 6.1017 6.1017 6.1017 7.2881 7.2881 8.4746
a26=8.47458 7.2881 7.2881 7.2881 7.2881 8.4746 8.4746 9.661
a27=9.66102 8.4746 8.4746 8.4746 8.4746 9.661 9.661 9.661
a28=10.8475 9.661 9.661 9.661 9.661 10.847 10.847 10.847
a29=12.0339 10.847 10.847 10.847 10.847 12.034 12.034 12.034
a30=13.2203 12.034 12.034 12.034 12.034 13.22 13.22 13.22
a31=14.4068 13.22 13.22 13.22 13.22 14.407 14.407 14.407
a32=15.5932 14.407 14.407 14.407 14.407 14.407 15.593 15.593
a33=16.7797 15.593 15.593 15.593 15.593 15.593 16.78 16.78
a34=17.9661 16.78 16.78 16.78 16.78 16.78 17.966 17.966
a35=19.1525 17.966 17.966 17.966 17.966 17.966 19.153 19.153
a36=20.339 19.153 19.153 19.153 19.153 19.153 20.339 20.339
a37=21.5254 20.339 20.339 20.339 20.339 20.339 21.525 21.525
a38=22.7119 21.525 21.525 21.525 21.525 21.525 22.712 22.712
a39=23.8983 22.712 22.712 22.712 22.712 22.712 23.898 23.898
a40=25.0847 23.898 23.898 23.898 23.898 23.898 25.085 25.085
a41=26.2712 25.085 25.085 25.085 25.085 25.085 26.271 26.271
a42=27.4576 26.271 26.271 26.271 26.271 26.271 27.458 27.458
a43=28.6441 27.458 27.458 27.458 27.458 27.458 28.644 28.644
a44=29.8305 28.644 28.644 28.644 28.644 28.644 28.644 29.831
a45=31.0169 28.644 29.831 29.831 29.831 29.831 29.831 31.017
a46=32.2034 29.831 31.017 31.017 31.017 31.017 31.017 32.203
a47=33.3898 31.017 31.017 32.203 32.203 32.203 32.203 33.39
a48=34.5763 32.203 32.203 33.39 33.39 33.39 33.39 34.576
a49=35.7627 33.39 33.39 34.576 34.576 34.576 34.576 35.763
a50=36.9492 34.576 34.576 35.763 35.763 35.763 35.763 36.949
a51=38.1356 35.763 35.763 35.763 36.949 36.949 36.949 38.136
a52=39.322 36.949 36.949 36.949 38.136 38.136 38.136 39.322
a53=40.5085 38.136 38.136 38.136 39.322 39.322 39.322 40.508
a54=41.6949 39.322 39.322 39.322 40.508 40.508 40.508 41.695
a55=42.8814 40.508 40.508 40.508 41.695 41.695 41.695 42.881
a56=44.0678 41.695 41.695 41.695 42.881 42.881 42.881 44.068
a57=45.2542 42.881 42.881 42.881 42.881 44.068 44.068 45.254
a58=46.4407 44.068 44.068 44.068 44.068 45.254 45.254 46.441
a59=47.6271 45.254 45.254 45.254 45.254 46.441 46.441 47.627
a60=48.8136 46.441 46.441 46.441 46.441 47.627 47.627 47.627
Simulate Save/Borrow, Can Default: cmin = 1, degenerate, borrow to max
with cmin = 1, we have garanteed consumption regardless debt owed. Now the distribution generated by the policy functions will be degenerate. In the negative asset region, all choices move towards the defaulting states.
[param_map, support_map] = ffs_abz_set_default_param(it_param_set); % allow for borrowing, when using a very large negative value for fl_b_bd % that means the natural borrowing constraint will bind. param_map('fl_b_bd') = -20; param_map('bl_default') = 1; param_map('fl_c_min') = 1; % shared parameters param_map('fl_a_min') = 0; param_map('fl_a_max') = fl_a_max; param_map('it_a_n') = it_a_n; param_map('fl_r_save') = fl_r_save; param_map('fl_r_borr') = fl_r_borr; param_map('fl_w') = fl_w; % solution param_map('it_z_n') = it_z_n; param_map('it_maxiter_val') = it_maxiter_val; % Display Parameters support_map('bl_display') = bl_display; support_map('bl_post') = bl_post; support_map('bl_display_final') = bl_display_final; % Call Program ff_abz_vf_vecsv(param_map, support_map);
Elapsed time is 0.075660 seconds.
valgap = norm(mt_val - mt_val_cur): value function difference across iterations
polgap = norm(mt_pol_a - mt_pol_a_cur): policy function difference across iterations
z1 = z1 perc change: sum((mt_pol_a ~= mt_pol_a_cur))/(it_a_n): percentage of state space points conditional on shock where the policy function is changing across iterations
valgap polgap z1 z2 z3 z4 z5 z6 z7
__________ ______ ________ ________ ________ ________ ________ ________ ________
iter=1 32.804 388.69 1.0167 1.0167 1.0167 1.0167 1.0167 1.0167 1.0167
iter=2 25.842 425.62 0.98333 1 1 1 1 1.0167 1.0167
iter=3 21.904 140.53 0.93333 0.93333 0.93333 0.95 0.95 0.96667 0.98333
iter=4 19.22 96.642 0.85 0.86667 0.88333 0.9 0.91667 0.91667 0.93333
iter=5 16.884 56.623 0.85 0.85 0.83333 0.85 0.85 0.88333 0.88333
iter=6 15.052 41.412 0.76667 0.75 0.75 0.75 0.76667 0.76667 0.8
iter=7 13.695 28.23 0.71667 0.7 0.66667 0.66667 0.63333 0.66667 0.66667
iter=8 12.639 21.263 0.56667 0.58333 0.56667 0.58333 0.61667 0.61667 0.6
iter=9 11.706 31.803 0.5 0.53333 0.51667 0.5 0.46667 0.55 0.53333
iter=10 10.862 24.816 0.46667 0.5 0.46667 0.46667 0.5 0.56667 0.51667
iter=11 10.226 24.343 0.41667 0.41667 0.41667 0.5 0.41667 0.48333 0.45
iter=12 9.6967 17.436 0.38333 0.41667 0.4 0.5 0.41667 0.53333 0.51667
iter=13 9.1212 30.983 0.43333 0.38333 0.41667 0.41667 0.41667 0.48333 0.45
iter=14 8.4803 18.057 0.41667 0.43333 0.41667 0.45 0.4 0.46667 0.41667
iter=15 7.9841 31.299 0.38333 0.38333 0.35 0.38333 0.35 0.43333 0.38333
iter=16 7.5778 14.528 0.31667 0.36667 0.35 0.43333 0.38333 0.36667 0.48333
iter=17 7.1269 30.339 0.33333 0.36667 0.31667 0.36667 0.33333 0.33333 0.41667
iter=18 6.6218 14.55 0.38333 0.36667 0.36667 0.3 0.36667 0.33333 0.35
iter=19 6.2346 21.364 0.31667 0.35 0.26667 0.3 0.35 0.25 0.36667
iter=20 5.923 11.571 0.3 0.28333 0.3 0.3 0.31667 0.25 0.43333
iter=21 5.5674 22.17 0.31667 0.3 0.26667 0.18333 0.3 0.23333 0.4
iter=22 5.1705 12.014 0.31667 0.31667 0.36667 0.21667 0.33333 0.21667 0.33333
iter=23 4.8685 21.105 0.28333 0.3 0.25 0.13333 0.35 0.15 0.36667
iter=24 4.6283 9.2925 0.21667 0.31667 0.26667 0.11667 0.3 0.15 0.38333
iter=25 4.3482 20.966 0.26667 0.25 0.23333 0.11667 0.26667 0.16667 0.38333
iter=26 4.037 10.57 0.3 0.28333 0.28333 0.083333 0.3 0.16667 0.31667
iter=27 3.8022 20.866 0.23333 0.21667 0.23333 0.05 0.31667 0.11667 0.33333
iter=28 3.615 7.3499 0.18333 0.23333 0.2 0.05 0.26667 0.13333 0.31667
iter=29 3.3955 20.805 0.2 0.21667 0.2 0.066667 0.23333 0.15 0.3
iter=30 3.1522 7.2131 0.21667 0.28333 0.18333 0.083333 0.23333 0.11667 0.31667
iter=31 2.9693 20.75 0.18333 0.2 0.18333 0.033333 0.26667 0.083333 0.21667
iter=32 2.8226 6.7402 0.16667 0.18333 0.2 0.05 0.2 0.11667 0.25
iter=33 2.6514 20.578 0.15 0.15 0.18333 0.05 0.16667 0.11667 0.3
iter=34 2.4616 6.506 0.16667 0.2 0.16667 0.05 0.21667 0.1 0.23333
iter=35 2.3184 20.539 0.13333 0.15 0.16667 0.016667 0.21667 0.083333 0.18333
iter=36 2.2036 20.406 0.16667 0.15 0.21667 0.05 0.11667 0.066667 0.21667
iter=37 2.0703 20.28 0.15 0.15 0.13333 0.033333 0.15 0.1 0.26667
iter=38 1.9224 6.3892 0.15 0.18333 0.16667 0.033333 0.16667 0.05 0.13333
iter=39 1.8104 20.21 0.1 0.1 0.11667 0.033333 0.18333 0.066667 0.15
iter=40 1.7204 5.9322 0.11667 0.11667 0.16667 0.016667 0.1 0.033333 0.16667
iter=41 1.6167 20.245 0.083333 0.083333 0.13333 0.016667 0.11667 0.083333 0.18333
iter=42 1.5014 5.9322 0.083333 0.11667 0.13333 0.016667 0.13333 0.05 0.083333
iter=43 1.4136 20.21 0.066667 0.11667 0.11667 0.016667 0.11667 0.066667 0.13333
iter=44 1.3431 5.1547 0.1 0.066667 0.16667 0 0.083333 0.033333 0.11667
iter=45 1.2625 20.21 0.083333 0.066667 0.083333 0.016667 0.05 0.066667 0.1
iter=46 1.1724 3.8325 0.05 0.1 0.13333 0 0.1 0.033333 0.066667
iter=47 1.1037 20.175 0.066667 0.083333 0.066667 0.016667 0.083333 0.05 0.11667
iter=48 1.0486 4.0065 0.05 0.066667 0.083333 0 0.05 0.05 0.13333
iter=49 0.98585 20.21 0.033333 0.066667 0.066667 0.016667 0.05 0.066667 0.083333
iter=50 0.91541 3.2887 0.05 0.083333 0.066667 0 0.083333 0.016667 0.016667
iter=186 0.0002032 0 0 0 0 0 0 0 0
iter=187 0.00019082 0 0 0 0 0 0 0 0
iter=188 0.00018087 0 0 0 0 0 0 0 0
iter=189 0.00017028 0 0 0 0 0 0 0 0
iter=190 0.00015865 0 0 0 0 0 0 0 0
iter=191 0.00014898 0 0 0 0 0 0 0 0
iter=192 0.0001412 0 0 0 0 0 0 0 0
iter=193 0.00013295 0 0 0 0 0 0 0 0
iter=194 0.00012387 0 0 0 0 0 0 0 0
iter=195 0.00011632 0 0 0 0 0 0 0 0
iter=196 0.00011024 0 0 0 0 0 0 0 0
iter=197 0.00010379 0 0 0 0 0 0 0 0
iter=198 9.672e-05 0 0 0 0 0 0 0 0
iter=199 9.0813e-05 0 0 0 0 0 0 0 0
iter=200 8.606e-05 0 0 0 0 0 0 0 0
iter=201 8.1035e-05 0 0 0 0 0 0 0 0
iter=202 7.5518e-05 0 0 0 0 0 0 0 0
iter=203 7.0902e-05 0 0 0 0 0 0 0 0
iter=204 6.7186e-05 0 0 0 0 0 0 0 0
iter=205 6.3266e-05 0 0 0 0 0 0 0 0
iter=206 5.8963e-05 0 0 0 0 0 0 0 0
iter=207 5.5357e-05 0 0 0 0 0 0 0 0
iter=208 5.2452e-05 0 0 0 0 0 0 0 0
iter=209 4.9393e-05 0 0 0 0 0 0 0 0
iter=210 4.6038e-05 0 0 0 0 0 0 0 0
iter=211 4.322e-05 0 0 0 0 0 0 0 0
iter=212 4.0949e-05 0 0 0 0 0 0 0 0
iter=213 3.8563e-05 0 0 0 0 0 0 0 0
iter=214 3.5946e-05 0 0 0 0 0 0 0 0
iter=215 3.3744e-05 0 0 0 0 0 0 0 0
iter=216 3.1968e-05 0 0 0 0 0 0 0 0
iter=217 3.0107e-05 0 0 0 0 0 0 0 0
iter=218 2.8066e-05 0 0 0 0 0 0 0 0
iter=219 2.6345e-05 0 0 0 0 0 0 0 0
iter=220 2.4958e-05 0 0 0 0 0 0 0 0
iter=221 2.3505e-05 0 0 0 0 0 0 0 0
iter=222 2.1914e-05 0 0 0 0 0 0 0 0
iter=223 2.0569e-05 0 0 0 0 0 0 0 0
iter=224 1.9484e-05 0 0 0 0 0 0 0 0
iter=225 1.8351e-05 0 0 0 0 0 0 0 0
iter=226 1.711e-05 0 0 0 0 0 0 0 0
iter=227 1.6059e-05 0 0 0 0 0 0 0 0
iter=228 1.5211e-05 0 0 0 0 0 0 0 0
iter=229 1.4327e-05 0 0 0 0 0 0 0 0
iter=230 1.3359e-05 0 0 0 0 0 0 0 0
iter=231 1.2538e-05 0 0 0 0 0 0 0 0
iter=232 1.1875e-05 0 0 0 0 0 0 0 0
iter=233 1.1186e-05 0 0 0 0 0 0 0 0
iter=234 1.0431e-05 0 0 0 0 0 0 0 0
iter=235 9.7893e-06 0 0 0 0 0 0 0 0
tb_val: V(a,z) value at each state space point
z1_0_34387 z2_0_47991 z3_0_66977 z4_0_93474 z5_1_3045 z6_1_8206 z7_2_5409
__________ __________ __________ __________ _________ _________ _________
a1=-20 15.208 15.235 15.268 15.306 15.35 15.401 15.456
a2=-18.8136 15.208 15.235 15.268 15.306 15.35 15.401 15.456
a3=-17.6271 15.208 15.235 15.268 15.306 15.35 15.401 15.531
a4=-16.4407 15.215 15.259 15.313 15.379 15.456 15.546 15.645
a5=-15.2542 15.375 15.411 15.455 15.507 15.57 15.644 15.727
a6=-14.0678 15.48 15.512 15.551 15.597 15.652 15.716 15.788
a7=-12.8814 15.557 15.586 15.621 15.664 15.714 15.772 15.837
a8=-11.6949 15.615 15.643 15.676 15.716 15.762 15.817 15.896
a9=-10.5085 15.662 15.688 15.721 15.758 15.803 15.875 15.974
a10=-9.32203 15.7 15.726 15.757 15.799 15.868 15.949 16.04
a11=-8.13559 15.754 15.788 15.832 15.883 15.945 16.018 16.1
a12=-6.94915 15.827 15.859 15.9 15.948 16.006 16.074 16.151
a13=-5.76271 15.899 15.929 15.967 16.012 16.065 16.128 16.207
a14=-4.57627 15.955 15.984 16.02 16.063 16.113 16.174 16.275
a15=-3.38983 16.01 16.038 16.072 16.112 16.16 16.243 16.338
a16=-2.20339 16.055 16.082 16.115 16.165 16.231 16.308 16.395
a17=-1.01695 16.099 16.132 16.176 16.228 16.291 16.365 16.448
a18=0 16.157 16.19 16.231 16.281 16.34 16.411 16.494
a19=0.169492 16.165 16.199 16.24 16.29 16.349 16.42 16.501
a20=1.35593 16.233 16.264 16.303 16.349 16.405 16.47 16.563
a21=2.54237 16.286 16.317 16.354 16.399 16.452 16.525 16.623
a22=3.72881 16.339 16.368 16.404 16.446 16.507 16.588 16.677
a23=4.91525 16.391 16.419 16.453 16.5 16.566 16.644 16.73
a24=6.10169 16.434 16.464 16.508 16.56 16.623 16.698 16.782
a25=7.28814 16.493 16.526 16.568 16.617 16.677 16.749 16.837
a26=8.47458 16.556 16.588 16.628 16.675 16.731 16.799 16.893
a27=9.66102 16.607 16.638 16.676 16.722 16.778 16.856 16.947
a28=10.8475 16.658 16.688 16.724 16.77 16.831 16.911 16.999
a29=12.0339 16.708 16.737 16.773 16.822 16.887 16.964 17.05
a30=13.2203 16.757 16.785 16.827 16.878 16.94 17.015 17.101
a31=14.4068 16.808 16.842 16.884 16.933 16.992 17.065 17.153
a32=15.5932 16.869 16.901 16.94 16.988 17.044 17.116 17.205
a33=16.7797 16.918 16.949 16.987 17.034 17.091 17.168 17.256
a34=17.9661 16.967 16.997 17.034 17.081 17.142 17.22 17.307
a35=19.1525 17.015 17.044 17.082 17.131 17.194 17.27 17.356
a36=20.339 17.062 17.092 17.134 17.184 17.245 17.32 17.405
a37=21.5254 17.113 17.147 17.188 17.237 17.296 17.369 17.455
a38=22.7119 17.17 17.203 17.242 17.289 17.346 17.417 17.504
a39=23.8983 17.218 17.249 17.288 17.334 17.391 17.466 17.553
a40=25.0847 17.265 17.295 17.333 17.38 17.439 17.515 17.601
a41=26.2712 17.311 17.341 17.38 17.428 17.489 17.564 17.649
a42=27.4576 17.357 17.389 17.429 17.479 17.538 17.612 17.696
a43=28.6441 17.408 17.441 17.481 17.529 17.587 17.659 17.743
a44=29.8305 17.462 17.494 17.533 17.58 17.636 17.705 17.79
a45=31.0169 17.508 17.539 17.577 17.623 17.68 17.752 17.837
a46=32.2034 17.554 17.584 17.621 17.668 17.726 17.799 17.883
a47=33.3898 17.598 17.628 17.666 17.714 17.773 17.846 17.929
a48=34.5763 17.642 17.674 17.714 17.762 17.82 17.892 17.975
a49=35.7627 17.691 17.724 17.764 17.811 17.868 17.938 18.02
a50=36.9492 17.743 17.774 17.813 17.859 17.915 17.982 18.064
a51=38.1356 17.788 17.819 17.856 17.902 17.957 18.027 18.109
a52=39.322 17.832 17.862 17.898 17.945 18.001 18.072 18.154
a53=40.5085 17.875 17.905 17.942 17.989 18.046 18.117 18.199
a54=41.6949 17.918 17.949 17.988 18.035 18.092 18.162 18.242
a55=42.8814 17.965 17.997 18.036 18.082 18.138 18.206 18.285
a56=44.0678 18.014 18.045 18.083 18.129 18.183 18.248 18.328
a57=45.2542 18.058 18.088 18.125 18.17 18.224 18.291 18.371
a58=46.4407 18.101 18.13 18.166 18.211 18.266 18.335 18.415
a59=47.6271 18.143 18.171 18.208 18.254 18.31 18.378 18.457
a60=48.8136 18.184 18.214 18.253 18.299 18.354 18.421 18.499
tb_pol_a: optimal asset choice for each state space point
z1_0_34387 z2_0_47991 z3_0_66977 z4_0_93474 z5_1_3045 z6_1_8206 z7_2_5409
__________ __________ __________ __________ _________ _________ _________
a1=-20 0 0 0 0 0 0 0
a2=-18.8136 0 0 0 0 0 0 0
a3=-17.6271 0 0 0 0 0 0 -20
a4=-16.4407 -20 -20 -20 -20 -20 -20 -20
a5=-15.2542 -20 -20 -20 -20 -20 -20 -20
a6=-14.0678 -20 -20 -20 -20 -20 -20 -20
a7=-12.8814 -20 -20 -20 -20 -20 -20 -20
a8=-11.6949 -20 -20 -20 -20 -20 -20 -15.254
a9=-10.5085 -20 -20 -20 -20 -20 -15.254 -15.254
a10=-9.32203 -20 -20 -20 -14.068 -14.068 -14.068 -14.068
a11=-8.13559 -14.068 -14.068 -14.068 -14.068 -14.068 -14.068 -14.068
a12=-6.94915 -12.881 -12.881 -12.881 -12.881 -12.881 -12.881 -12.881
a13=-5.76271 -12.881 -12.881 -12.881 -12.881 -12.881 -12.881 -10.508
a14=-4.57627 -11.695 -11.695 -11.695 -11.695 -11.695 -11.695 -9.322
a15=-3.38983 -11.695 -11.695 -11.695 -11.695 -11.695 -8.1356 -8.1356
a16=-2.20339 -10.508 -10.508 -10.508 -8.1356 -8.1356 -8.1356 -8.1356
a17=-1.01695 -10.508 -6.9492 -6.9492 -6.9492 -6.9492 -6.9492 -6.9492
a18=0 -6.9492 -6.9492 -6.9492 -6.9492 -6.9492 -5.7627 -5.7627
a19=0.169492 -5.7627 -5.7627 -5.7627 -5.7627 -5.7627 -5.7627 -5.7627
a20=1.35593 -5.7627 -5.7627 -5.7627 -5.7627 -5.7627 -5.7627 -3.3898
a21=2.54237 -4.5763 -4.5763 -4.5763 -4.5763 -4.5763 -2.2034 -2.2034
a22=3.72881 -4.5763 -3.3898 -3.3898 -3.3898 -2.2034 -2.2034 -2.2034
a23=4.91525 -3.3898 -3.3898 -3.3898 -1.0169 -1.0169 -1.0169 -1.0169
a24=6.10169 -2.2034 0 0 0 0 0.16949 0.16949
a25=7.28814 0.16949 0.16949 0.16949 0.16949 1.3559 1.3559 2.5424
a26=8.47458 1.3559 1.3559 1.3559 1.3559 1.3559 2.5424 3.7288
a27=9.66102 1.3559 1.3559 2.5424 2.5424 2.5424 3.7288 4.9153
a28=10.8475 2.5424 2.5424 2.5424 3.7288 4.9153 4.9153 4.9153
a29=12.0339 3.7288 3.7288 4.9153 4.9153 6.1017 6.1017 6.1017
a30=13.2203 4.9153 4.9153 6.1017 6.1017 7.2881 7.2881 7.2881
a31=14.4068 7.2881 7.2881 7.2881 7.2881 8.4746 8.4746 9.661
a32=15.5932 8.4746 8.4746 8.4746 8.4746 8.4746 9.661 10.847
a33=16.7797 8.4746 8.4746 8.4746 9.661 9.661 10.847 10.847
a34=17.9661 9.661 9.661 10.847 10.847 12.034 12.034 12.034
a35=19.1525 10.847 10.847 12.034 12.034 13.22 13.22 13.22
a36=20.339 12.034 13.22 13.22 13.22 14.407 14.407 14.407
a37=21.5254 14.407 14.407 14.407 14.407 15.593 15.593 15.593
a38=22.7119 15.593 15.593 15.593 15.593 15.593 16.78 16.78
a39=23.8983 15.593 15.593 15.593 16.78 16.78 17.966 17.966
a40=25.0847 16.78 16.78 17.966 17.966 17.966 19.153 19.153
a41=26.2712 17.966 17.966 19.153 19.153 20.339 20.339 20.339
a42=27.4576 19.153 20.339 20.339 20.339 21.525 21.525 21.525
a43=28.6441 21.525 21.525 21.525 21.525 22.712 22.712 22.712
a44=29.8305 22.712 22.712 22.712 22.712 22.712 23.898 23.898
a45=31.0169 22.712 22.712 22.712 23.898 23.898 25.085 25.085
a46=32.2034 23.898 23.898 25.085 25.085 25.085 26.271 26.271
a47=33.3898 25.085 25.085 26.271 26.271 26.271 27.458 27.458
a48=34.5763 26.271 27.458 27.458 27.458 27.458 28.644 28.644
a49=35.7627 28.644 28.644 28.644 28.644 28.644 29.831 29.831
a50=36.9492 29.831 29.831 29.831 29.831 29.831 31.017 31.017
a51=38.1356 29.831 29.831 29.831 31.017 31.017 32.203 32.203
a52=39.322 31.017 31.017 32.203 32.203 32.203 33.39 33.39
a53=40.5085 32.203 32.203 33.39 33.39 33.39 34.576 34.576
a54=41.6949 33.39 34.576 34.576 34.576 34.576 35.763 35.763
a55=42.8814 35.763 35.763 35.763 35.763 35.763 36.949 36.949
a56=44.0678 36.949 36.949 36.949 36.949 36.949 38.136 38.136
a57=45.2542 36.949 36.949 36.949 38.136 38.136 39.322 39.322
a58=46.4407 38.136 38.136 38.136 39.322 39.322 40.508 40.508
a59=47.6271 39.322 39.322 40.508 40.508 40.508 41.695 41.695
a60=48.8136 40.508 41.695 41.695 41.695 41.695 42.881 42.881