Production technologies in stochastic continuous time models

Klaus Wälde

Journal of Economic Dynamics and Control, 2011, vol. 35, issue 4, 616-622

Abstract: Properties of dynamic stochastic general equilibrium models can be revealed by either using numerical solutions or qualitative analysis. Very precise and intuition-building results are obtained by working with models which provide closed-form solutions. Closed-form solutions are known for a large class of models some of which, however, have some undesirable features such as potentially negative output. This paper offers closed-form solutions for models which are just as tractable but do not suffer from these shortcomings.

Keywords: Dynamic; stochastic; general; equilibrium; models; Closed-form; solution; Continuous; time; Jump; diffusion (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (21)

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Related works:
Working Paper: Production Technologies in Stochastic Continuous Time Models (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:dyncon:v:35:y:2011:i:4:p:616-622

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