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Computing minimal state space recursive equilibrium in OLG models with stochastic production

โœ Scribed by Jaime McGovern, Olivier F. Morand, Kevin Reffett


Book ID
120746848
Publisher
Springer
Year
2012
Tongue
English
Weight
520 KB
Volume
54
Category
Article
ISSN
0938-2259

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Computing equilibrium in OLG models with
โœ Dirk Krueger; Felix Kubler ๐Ÿ“‚ Article ๐Ÿ“… 2004 ๐Ÿ› Elsevier Science ๐ŸŒ English โš– 355 KB

In this paper we develop a projection algorithm to approximate equilibria in overlapping generations economies with a large number of generations and stochastic aggregate production. In these types of economies the state space includes the distribution of wealth across generations. We use Smolyak's