A computational general equilibrium mode
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Loı̈c Cadiou; Stéphane Dées; Jean-Pierre Laffargue
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Article
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2003
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Elsevier Science
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English
⚖ 352 KB
This paper presents a vintage capital model assuming putty-clay investment and perfect foresight. The model is written in discrete time and is simulated by using a second order relaxation algorithm. By computing the eigenvalues of the dynamic system, we have checked the conditions of existence and u