Solving The Discrete-Time Stochastic Ramsey Model
Chris Elbers ()
No 09-018/2, Tinbergen Institute Discussion Papers from Tinbergen Institute
This note describes methods for solving deterministic and stochastic versions of the discrete-time Ramsey model of economic growth. We derive an iterative procedure for solving the Euler equation and apply it to an example adapted from Pan (2007).
Keywords: Ramsey model; Stochastic Ramsey model; Solution methods (search for similar items in EconPapers)
JEL-codes: C61 E22 O41 (search for similar items in EconPapers)
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Persistent link: http://EconPapers.repec.org/RePEc:tin:wpaper:20090018
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