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Uniqueness of Markov equilibrium in stochastic OLG models with nonclassical production

✍ Scribed by Hillebrand, Marten


Book ID
122230915
Publisher
Elsevier Science
Year
2014
Tongue
English
Weight
419 KB
Volume
123
Category
Article
ISSN
0165-1765

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Computing equilibrium in OLG models with
✍ Dirk Krueger; Felix Kubler πŸ“‚ Article πŸ“… 2004 πŸ› Elsevier Science 🌐 English βš– 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