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Indeterminacy of equilibrium in stochastic OLG models

โœ Scribed by Michael Magill; Martine Quinzii


Book ID
105866144
Publisher
Springer
Year
2003
Tongue
English
Weight
269 KB
Volume
21
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