Smolyak method for solving dynamic economic models by Judd, Maliar, Maliar and Valero.

Kenneth L. Judd, Lilia Maliar, Serguei Maliar and Rafael Valero show efficient implementation of the Smolyak method that avoids costly evaluations of repeated basis functions used in the conventional Smolyak formula. Also, the conventional Smolyak method is extended to include anisotropic constructions and an adaptive domain. The code is illustrated by simple examples and is portable to other applications.