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Stationary Markovian equilibrium in altruistic stochastic OLG models with limited commitment

✍ Scribed by Łukasz Balbus; Kevin Reffett; Łukasz Woźny


Book ID
113723231
Publisher
Elsevier Science
Year
2012
Tongue
English
Weight
398 KB
Volume
48
Category
Article
ISSN
0304-4068

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Computing equilibrium in OLG models with
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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