Solving the incomplete markets model with aggregate uncertainty using the Krusell-Smith algorithm and non-stochastic simulations

Eric R. Young ()

Journal of Economic Dynamics and Control, 2010, vol. 34, issue 1, pages 36-41

Abstract: This article describes the approach to computing the version of the stochastic growth model with idiosyncratic and aggregate risk that relies on collapsing the aggregate state space down to a small number of moments used to forecast future prices. One innovation relative to most of the literature is the use of a non-stochastic simulation routine.

Keywords: Idiosyncratic; risk; Business; cycles; Numerical; methods (search for similar items in EconPapers)
Date: 2010
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Persistent link: http://EconPapers.repec.org/RePEc:eee:dyncon:v:34:y:2010:i:1:p:36-41

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